Definitions for "UNITRUST"
The general term for a charitable remainder unitrust is a trust from which a fixed percentage, which is not less than 5% of the net fair market value of its assets, valued annually, is to be paid, not less often than annually, to one or more persons (at least one of which is not an organization described in IRC §170© and, in the case of individuals, only to an individual who is living at the time of the creation of the trust) for a term of years (not in excess of twenty years) or for the life or lives of such individual or individuals. Unlike the charitable remainder annuity trust, additional contributions to unitrusts are permitted.
a second type of charitable remainder trust, virtually identical to the charitable remainder annuity trust, except that instead of an annuity, the creator of the Trust retains the right to a percentage rate of return (not less than five percent)
a trust that annually distributes to the beneficiary a fixed percentage of the value of the assets
an excellent way to bypass capital gain, increase income and receive a
a useful way to generate tax savings during your income-earning years and supplemental income after retirement
Please see "Ways to Give" .