grantor retained unitrust
- A type of irrevocable trust where the creator of the trust keeps the right to receive a yearly percentage of the unchanging net market value of the trust's assets for a set term, following which the assets of the trust are transferred to the named beneficiary
- The establishment of a grantor retained unitrust can provide income for the trust creator while benefiting a beneficiary in the future.
- A grantor retained unitrust allows the grantor to retain a percentage of the trust's net market value for a specific duration.
- Upon termination of a grantor retained unitrust, the remaining assets are transferred to the designated beneficiary.