Definition of Unitrust:
Type of trust in which a certain percentage of annually assessed fair market value of trust property is paid to the trusts beneficiary. Not to be confused with unit trust.
How to use Unitrust in a sentence?
- You need to make sure that all of the money ends up in the right place when you have entered into a unitrust .
- The unitrust agreement was made and all the people involved were very happy with the outcome and what it meant for our firm.
- My father set up a unitrust to ensure that he would be paid a fixed annuity percentage on the publicly traded stocks he owns.
Meaning of Unitrust & Unitrust Definition