From the Dashboard in your clients plan click the (+) in the bottom right corner and select the Trusts option.
From here select "Trust" to create the Trust in your clients plan.
You will need to fill in all of the information on the Basics screen to give the software the information on the Trust.
Is this an existing trust? Yes or No
Province: select your clients province from the drop down so that the correct taxation rules are applied.
Trust Type: Inter-Vivos is currently the only trust type modeled in the Canadian version of Voyant.
Settlors: Who funded the trust?
Inception year: Year the trust was created.
Trust Name: How the Trust will appear in the plan and on reports.
Trust Structure: Discretionary or non-discretionary
Revocable: Use the toggle to select yes or keep it off if the Trust is irrevocable.
If this is not an existing Trust you will be prompted to fill in the Timing section for when the Trust will be entering the plan.
Now go to the beneficiaries screen and designate the Trusts beneficiaries. Please note the % must equal 100. Click "Done" to save.
Once you have saved the Trust you will notice two new items in the Dashboard. A Trust section and a default non-registered account in the Trusts name.
Open up the default non-registered account and either enter the value of the Trust into the balance section OR you can also use the transfers section to model the transfer of assets into this account if it being established for the first time.
To schedule planned distributions from this Trust to the designated beneficiaries go back to the (+) button in the bottom right corner and select Trusts then Trust Distribution.
From here you will need to fill in the necessary information to schedule the distribution.
Distribution Source: The trust you would like to schedule the distribution from.
Distribution type: All, Fixed Amount, or Fixed Amount with Inflation
Amount: How much you would like to distribute. (only appears when Fixed Amount, or Fixed Amount with Inflation are select as the Distribution type)
Distribution entered as: Present Value or Future Value. Future value can be used when scheduling a distribution that is occurring in the future and you do NOT want inflation applied to the amount you are scheduling.
Recurring: Yes or No
Available payment source: Select the Trust you want to distribute from.
In the Timing section designate when these distributions should begin and if recurring when they should end.
To confirm the distributions are occurring as planned, you can go to Year View > Cash Flow and scroll to the year the distributions occur in the plan.
You can also confirm the distribution from the Trust by going to Year View > Investments
Note: the Trust is capable of being listed as the Owner of properties and insurance policies. To do this you would simply use the selection drop down in the ownership field and choose the Trust.