Charitable Remainder Unitrust (CRUT): Fixed Percent Unitrust Payment for Term of One Measuring Life (IL) | Practical Law

Charitable Remainder Unitrust (CRUT): Fixed Percent Unitrust Payment for Term of One Measuring Life (IL) | Practical Law

A Standard Document creating a charitable remainder unitrust (CRUT) for a settlor residing in Illinois with a fixed percent unitrust amount paid for a unitrust period based on one measuring life. This CRUT is an irrevocable trust created for the initial benefit of one non-charitable beneficiary who receives a stream of income equal to a percentage of the value of the trust assets, as determined annually, for the non-charitable beneficiary's life. At the end of the term, the remaining property is distributed to one or more charitable beneficiaries.

Charitable Remainder Unitrust (CRUT): Fixed Percent Unitrust Payment for Term of One Measuring Life (IL)

by Practical Law Trusts & Estates
MaintainedIllinois
A Standard Document creating a charitable remainder unitrust (CRUT) for a settlor residing in Illinois with a fixed percent unitrust amount paid for a unitrust period based on one measuring life. This CRUT is an irrevocable trust created for the initial benefit of one non-charitable beneficiary who receives a stream of income equal to a percentage of the value of the trust assets, as determined annually, for the non-charitable beneficiary's life. At the end of the term, the remaining property is distributed to one or more charitable beneficiaries.