Grantor Retained Income Trust

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Grantor Retained Income Trust (GRIT)

A tax-saving trust in which a grantor transfers property to a beneficiary, but receives income until termination, at which time the beneficiary begins receiving the income.

Grantor Retained Income Trust

A trust in which the grantor places some assets for the beneficiary, but retains the right to receive income from those assets up to a certain point, at which time the beneficiary begins to receive the income. This allows the beneficiary to receive income from the trust without being subject to the estate tax. A disadvantage is the possibility that the grantor will die before the expiration of the trust, which results in the assets transferring to the grantor's estate. In that case, the beneficiary does not receive anything. It is also called a grantor retained annuity trust.
References in periodicals archive ?
To foster more grit, practice the Hard Thing Rule, which has three parts.
All precautionary gritting routes were gritted before the heavy snowfall and teams have continued to grit roads as the situation has developed, wother local services teams also diverted on to gritting and road treatment.
Our annual winter maintenance preparations include stockpiling rock salt for treatment of the borough's main roads, and we have over 200 grit bins across the borough which are available for use by our staff and the public.
Distributing demo-specific networks Escape and Grit alongside the successful Bounce TV can help station groups and owners grow and prosper in this new world as consumers combine over-the-air television with over-the-top services," said Wolf.
It is impossible for us to grit every road but we have kept the major highways operating while we have had very harsh winters in the last couple of years and we have prepared on the basis that we may have more very severe weather.
The snow warden plans include provision of an extra grit bin which holds one and a half tonnes of salt grit.
The cash-strapped council's deputy leader, Coun Ian Ward, said current grit bin levels were "unsustainable" and the public's expectation of what the authority could provide needed to be "adjusted".
Hydro will supply an integrated grit removal system in order to address the problem of grit removal from incoming flows to the municipal wastewater treatment works.
Coun Green said: "The main roads had not been gritted in preparation for this widely predicted fall of snow, the grit bins in the outer areas had little or no grit available.
A SHIPMENT of grit bins, en route to Liverpool to help deal with the cold snap, has been delayed due to the bad weather.
KEN McKay, whose letter about grit on the pavements was included in yesterday's letters page, needs to get a life.