Posts tagged Business
Limited Partnership: Business Entity

A limited partnership is a type of business entity. It offers, among other things, the flexibility of a general partnership with the added feature of limited liability for certain partners. A limited partnership must consist of two or more owners, at least one of whom must be a general partner and the other a limited partner.

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Grantor Retained Unitrust (GRUT)

Definition

A grantor retained unitrust (GRUT) is an irrevocable trust into which a grantor makes a one-time transfer of property, and in which the grantor retains the right to receive a variable amount (based on a fixed percentage of trust assets valued annually) at least annually for a specified term of years. At the end of the retained unitrust period, the property remaining in the trust passes to the remainder beneficiaries or remains in trust for their benefit.

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