These are irrevocable trusts whose purpose is to save on estate tax. During the life of the trust, you may keep income from trust property or use of the property. When the trust ends, the property is distributed to the named final beneficiaries. These are usually created by wealthy people who are not afraid to part with significant assets. Primary trust types include: (i) Grantor-Retained Income Trusts (GRITs), (ii) Grantor-Retained Annuity Trusts (GRATs), (iii) Grantor-Retained Unitrusts (GRUTs).