Kathleen transferred her closely held stock to a trust for the benefit of her two daughters. Kathleen will receive a $50,000 distribution each year for the next 10 years from the trust. At the end of the trust term, Kathleen’s daughters will each receive 50% of the remaining trust assets. What type of trust did Kathleen establish?

  1. GRAT
  2. GRIT
  3. GRUT
  4. Totten Trust