charitable remainder unitrust

Definition of "charitable remainder unitrust"
  1. A type of trust where a certain percentage of the trust's assets is annually paid to a beneficiary
How to use "charitable remainder unitrust" in a sentence
  1. The millionaire set up a charitable remainder unitrust to provide yearly income for his favorite charity.
  2. Upon his demise, a substantial amount from the charitable remainder unitrust was distributed annually to his chosen beneficiary.
  3. The charitable remainder unitrust ensures annual financial support for the recipient.

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