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Related to CRUT: crutch
CRUTCharitable Remainder Unitrust
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CRUTs are better suited for illiquid assets, but you'll need expert advice if your client wants to transfer non-financial assets to a trust.
In comparison, CRATs (15 years) and CRUTs (14 years) terminating in Filing Year 2012 had similar average lifespans perhaps because both types of charitable remainder trusts are likely to terminate at the death of a noncharitable beneficiary.
While a CRUT is a special type of CRT, a net income make-up CRUT, or NIMCRUT, is further specialized to allow for maximum income deferral opportunities.
The choice between a CRAT and a CRUT depends, in part, on whether you want to make additional contributions to the trust in later years.
Another important consideration with respect to a CRUT is the administrative reporting costs that would be incurred in conjunction with the payment of GST taxes.
As in past years, the majority of CRUTs filing in 2011 reported unitrust percentages between 5 and 10 percent (Figure H).
If immediate supplemental income is desired from the trust, CRAT or CRUT options provide for either fixed-payment or fixed-percentage distributions on an annual basis.
As in past years, the majority of 2010 filings for CRUTs reported unitrust percentages between 5 and 10 percent (Figure H).
Annuity Trust CRUT Charitable A CRT that pays a fixed percentage of Remainder the FMV of the trust's assets to Unitrust noncharitable beneficiaries.
The CRUT realizes $400,000 of capital gain on a sale, but never recognizes it.
Under the purported abusive CRAT or CRUT, a grantor transfers low basis appreciated assets to the trust and directs that the trust is a short term trust, perhaps with a two or three-year term.
In Filing Year 2008, the majority of all CRUT trustees reported the standard structure, which requires them to distribute a fixed percentage of the fair market value of assets to beneficiaries (Figure F).