What is a charitable remainder unitrust (CRUT)?
It is a special type of trust created by a donor or donors (referred to as a grantor or grantors) that annually pays a specified percentage of the trust assets to a non-charitable income beneficiary or beneficiaries for a term of years certain, not to exceed twenty years, or for the lifetime of the income beneficiary or beneficiaries. Payment is normally quarterly. At the end of trust, the trust’s residual goes to the charity.
