Grantor Retained Unitrust

Grantor Retained Unitrust

by Richard C. Wilson & Family Offices Group Association Team

Family Office Definition: Grantor Retained Unitrust

Grantor Retained Unitrust definition:  Grantor retained unitrust (GRUT) is an irrevocable trust that pays a fixed payment (calculated as a percentage or “unit” based on the annual net fair market value) to the grantor for a fixed number of years. When the trust expires during the grantor’s lifetime, the remainder goes to beneficiaries without being subject to gift taxes or estate taxes. If however the grantor dies before the trust expires, the trust is included in the grantor’s estate and may be subject to taxes. The grantor is responsible for income taxes for the trust.

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