Grantor-retained unitrust

{
  "id": "MLC-T-LAW-002353",
  "term": "Grantor-retained unitrust",
  "field": "Law",
  "definition": "An irrevocable trust where the grantor transfers assets to the trust and retains the right to receive a fixed percentage of the trust's value, revalued annually, for a specified term. At the end of the term, the remaining trust assets pass to non-charitable beneficiaries, often children, with the gift tax value of the remainder interest reduced by the value of the grantor's retained income stream. This estate planning tool is used to transfer wealth with reduced gift tax liability.",
  "url": "https://mlchart.com/terminology/law/grantor-retained-unitrust/"
}