I'm studying for finals and, I kid you not, I just read this line in my estate planning textbook:
A 'flip unitrust' (FLIPCRUT) is a unitrust that begins as a NIMCRUT or NIOCRUT and, after a trigger event, flips to a fixed-percentage CRUT.
Henkel, Katherine G. Estate Planning and Wealth Preservation, 33-4.
I'm just gonna assume that I can get away with knowing about CRUTs and CRATs and skip memorizing the FLIPCRUT and NIMCRUT jazz. Am I right people?
