Charitable remainder unitrust

{
  "id": "MLC-T-LAW-000948",
  "term": "Charitable remainder unitrust",
  "field": "Law",
  "definition": "An irrevocable trust that pays a variable income stream, based on a fixed percentage of the trust's fair market value, to one or more non-charitable beneficiaries for a specified term or for life. Upon termination, the remaining trust assets are distributed to a qualified charity. This structure provides the grantor with a current income tax deduction for the remainder interest passing to charity.",
  "url": "https://mlchart.com/terminology/law/charitable-remainder-unitrust/"
}