A charitable remainder unitrust is an irrevocable trust created under the authority of Internal Revenue Code § 664.

How does a unitrust work?

By using a “Unitrust,” sometimes called a “Total Return Trust,” everybody gains. A Unitrust provides that the income beneficiary instead of receiving the income from the trust, receives a set percentage of the net asset value (NAV) of the trust determined annually and usually paid monthly.

What does the term unitrust mean?

: a trust from which the beneficiary receives annually a fixed percentage of the fair market value of its assets.