Two modeling options are currently available in the US Voyant software. Simple Trusts and Grantor Revocable Trusts.
A simple trust must distribute all its income currently. Generally, it cannot accumulate income, distribute out of corpus, or pay money for charitable purposes. If a trust distributes corpus during a year, as in the year it terminates, the trust becomes a complex trust for that year.
When entered into the software all assets in a simple trust will be held outside of the client's estate so you will not see its value reflected in the Cash Flow or Net Worth charts.
To see the value of the trust use the Plan Worth chart
Note: The net worth value in the plan is $0 this is because a simple trust is held outside the client's estate.
or the Year View > Investments tab.
Grantor Revocable Trust
A revocable trust is a legal document that places the grantor's assets into a trust during his lifetime and then distributes them to his heirs or beneficiaries after his death. The grantor can change or cancel the trust while they are still alive.
When entered into the Voyant software all assets placed in a revocable trust will remain visible on the Net Worth and Plan Worth charts and the Year View > Investments Tab. Since this is a revocable trust it will not be held outside the client's estate.
Note: the Plan worth figure above reflects end-of-year values.
Values from the Year View > Investments Tab below
Tip: use the slider bar to see the changes year on year.
Once a trust type has been entered.
The software will automatically create an investment account that can be found in the Savings and Investments section of your Dashboard.
You can use this account to reflect the assets in the client's Trust.
Open your trust and go to the Capital Distributions section. Select (+) Capital Distribution.
Enter the amount and choose a fixed amount or fixed amount with inflation. For "recurring" select yes or no.
To direct the software to only distribute out of the trust and not another asset in the plan turn on "only use preferred payment sources".
Go to the beneficiaries section and select the beneficiary of the distribution.
Note that the total percentage on this screen must equal 100%.
Select the Timing section and direct the software to start and end distributions on certain events.
Note: If scheduling a one-time distribution you will only need to schedule one event. To add an event for the distribution to the timeline double click on the gray area of the chart in the year desired.
Click "DONE" once completed. This will save your changes.
You will now see those distributions as inflows on the Cash Flow chart and in the Year View > Cash Flow tab