income only charitable remainder unitrust
A term to know.
A type of CRUT, which pays a stated percentage of fair market value of the assets of the trust out of fiduciary income if such income is sufficient, but not out of the principal of the CRUT. If income is not sufficient in a year to make the stated payout (the stated percentage times the fair market value), the deficit is not made up in later years.
Synonyms:
IOCRUT, IOCRUTs, income only CRUT, income only CRUTs, income only charitable remainder unitrusts
Synonyms list
(a comma-separated list)
IOCRUT, IOCRUTs, income only CRUT, income only CRUTs, income only charitable remainder unitrusts