Charitable Remainder Unitrust (CRUT): NIMCRUT Unitrust Payment for Term of Consecutive Interests (FL) | Practical Law
https://content.next.westlaw.com/practical-law/document/I87ef91750b0f11e9a5b3e3d9e23d7429/Charitable-Remainder-Unitrust-CRUT-NIMCRUT-Unitrust-Payment-for-Term-of-Consecutive-Interests-FL?viewType=FullText&transitionType=Default&contextData=(sc.Default)A Standard Document creating a charitable remainder unitrust (CRUT) for a settlor residing in Florida with a NIMCRUT unitrust amount paid for a unitrust period based on consecutive interests of two measuring lives. This CRUT is an irrevocable trust created for the initial benefit of two non-charitable beneficiaries, who receive a stream of income equal to the lesser of the trust's income or a fixed percent of the value of the trust's assets, as determined annually, consecutively for the non-charitable beneficiaries' lives. For any year that the trust's income is less than the fixed percent amount, the deficiency is made up in subsequent years when and to the extent that the trust's income exceeds the fixed percent amount. At the end of the term, the remaining property is distributed to one or more charitable beneficiaries.
A Standard Document creating a charitable remainder unitrust (CRUT) for a settlor residing in Florida with a NIMCRUT unitrust amount paid for a unitrust period based on consecutive interests of two measuring lives. This CRUT is an irrevocable trust created for the initial benefit of two non-charitable beneficiaries, who receive a stream of income equal to the lesser of the trust's income or a fixed percent of the value of the trust's assets, as determined annually, consecutively for the non-charitable beneficiaries' lives. For any year that the trust's income is less than the fixed percent amount, the deficiency is made up in subsequent years when and to the extent that the trust's income exceeds the fixed percent amount. At the end of the term, the remaining property is distributed to one or more charitable beneficiaries.