GRUT
- Grantor retained unitrust: a type of trust established by an individual, in which they retain the income generated from the trust for a set period
- The individual decided to set up a GRUT as part of their estate planning strategy.
- Under a GRUT, the grantor is entitled to receive a fixed percentage of the trust's annual value for a certain period.
- Once the term for the GRUT expires, the remaining trust assets are passed on to the designated beneficiaries.
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