unitrust

  

Definition

Type of trust in which a certain percentage of annually assessed fair market value of trust property is paid to the trust's beneficiary. Not to be confused with unit trust.

Use unitrust in a sentence

  • The unitrust agreement was made and all the people involved were very happy with the outcome and what it meant for our firm.

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  • You need to make sure that all of the money ends up in the right place when you have entered into a unitrust.

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  • My father set up a unitrust to ensure that he would be paid a fixed annuity percentage on the publicly traded stocks he owns.

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