You can define when a trust or sub-trust ends (the “Termination Event”) within the Trust or Will Card. You can navigate to find all Cards in the People & Entities tab.
For Revocable Trusts and Wills, termination settings are found at the Sub-Trust level. How to navigate:
Go to the People & Entities tab.
Open the Trust or Will Card.
Select the Beneficiaries tab.
Locate the specific sub-trust where you would like to edit the sub-trust termination event.
Click the “Edit” button.
Scroll to the “Trust Termination” section to enter details.
Please note that for Revocable Trusts and Wills, sub-trusts for the benefit of the surviving spouse (Credit Shelter Trust, Marital Trust, Hybrid (State QTIP) Trust and Survivor’s Trust all have hard-coded termination events that default to the spouse’s death. Therefore, termination cannot be specified.
For Irrevocable Trusts, termination settings are found under the Beneficiaries Tab > Current Beneficiaries.
Go to the People & Entities tab.
Open the Irrevocable Trust Card.
Click on the Beneficiaries tab, and ensure you are looking at Current Beneficiaries.
Scroll to the “Trust Termination” section to enter details.