Definitions for "Charitable remainder unitrust"
a type of U.S. charitable remainder trust that pays a fixed percentage of trust assets, as revalued annually – for life or a term of years – to one or more income beneficiaries each year.
Provides for the annual payment of a fixed percentage (at least five percent (5%)) of the annually determined net fair market value of the trust principal to the noncharitable beneficiary(ies). The unitrust amount therefore fluctuates each year based on the fair market value of the trust principal. Additional contributions may be made to the unitrust.
A trust which allows an individual or couple to make a charitable gift of cash, stock, or real estate, while receiving income from the trust for their lifetime.