Charitable Remainder Unit Trust

Charitable Remainder Unit Trust

by Richard C. Wilson & Family Offices Group Association Team

Family Office Definition: Charitable Remainder Unit Trust

Charitable Remainder Unit Trust definition:  (CRUT)  The beneficiary receives income from the trust for a specificied period of time (their lifetime or fixed term of less than 20 years).  The annual income withdrawn is specified as a fixed percentage (unit) based on annual net fair market value. The annual withdrawal must be taken regardless of the trust’s investment performance, but the amount will fluctuate based on trust values. The grantor is permitted to make additions to the trust.  When the trust expires, the remaining amount transferred to a charity must be at least 10% of the initial funded amount.

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