grit

(redirected from Grantor Retained Income Trust)
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Related to Grantor Retained Income Trust: IDGT

grit

(grit)
Denotes the size of a particle found on the surface of abrasive materials.
References in periodicals archive ?
The next technique involving the use of the "trust freeze" was the GRIT, or grantor retained income trust. The primary distinction between the grantor annuity trust and the GRIT was that in a GRIT the grantor was entitled to all of the income or use of the property rather than a fixed and determined amount of income.
Internal Revenue Code Chapter 14's special valuation rules for transfer tax purposes introduce a grantor retained annuity trust (GRAT) and unitrust (GRUT) to replace the prior law's grantor retained income trust (GRIT).
A grantor retained income trust (GRIT) is an irrevocable trust into which the grantor places cash or other assets.