GRANTOR RETAINED INCOME TRUST
\ɡɹˈantɔː ɹɪtˈe͡ɪnd ˈɪnkʌm tɹˈʌst], \ɡɹˈantɔː ɹɪtˈeɪnd ˈɪnkʌm tɹˈʌst], \ɡ_ɹ_ˈa_n_t_ɔː ɹ_ɪ_t_ˈeɪ_n_d ˈɪ_n_k_ʌ_m t_ɹ_ˈʌ_s_t]\
Definitions of GRANTOR RETAINED INCOME TRUST
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Irrevocable trusts designed to save on estate tax. There are several kinds; with all of them, you keep income from trust property, or use of that property, for a period of years. When the trust ends, the property goes to the final beneficiaries you've named. These trusts are for people who have enough wealth to feel comfortable giving away a substantial hunk of property. They come in three flavors: Grantor-Retained Annuity Trusts (GRATs), Grantor-Retained Unitrusts (GRUTs) and Grantor-Retained Income Trusts (GRITs).
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