unitrusts
/ˈjuːnɪˌtrʌsts/
noun
- A type of trust (legal arrangement) that pays a fixed percentage of its assets to the beneficiary each year, rather than a fixed dollar amount.
- The charity set up several unitrusts to provide steady income for its donors.
- Unitrusts can help reduce taxes while supporting a cause you care about.
- She learned about unitrusts in her estate planning class.