For your Revocable Trust, you are able to define the type of distribution you'd like for your general beneficiary(ies). You will have the following options:
Right of Representation
Most people use this way to distribute assets to their children. This statement means if a child of yours dies before you die, then the share that child would have taken will be distributed to their children, i.e. your grandchildren from the deceased child.
Most people use this way to distribute assets to their children. This statement means if a child of yours dies before you die, then the share that child would have taken will be distributed to their children, i.e. your grandchildren from the deceased child.
Percentages
This statement means that you can choose to distribute your estate in amounts designated by percentages, which allows you to distribute your assets into equal or unequal shares between different individuals and organizations.
This statement means that you can choose to distribute your estate in amounts designated by percentages, which allows you to distribute your assets into equal or unequal shares between different individuals and organizations.
Equal Shares to Lapse
This statement means that you direct your assets to be distributed in equal shares among a group of people, and that only those people who are alive at the time they become entitled to a share actually receive a share.
This statement means that you direct your assets to be distributed in equal shares among a group of people, and that only those people who are alive at the time they become entitled to a share actually receive a share.
To edit the trust distribution type for your beneficiaries:
1. Click on 'Your Info' at the top left of the program, then scroll down to select
'Beneficiaries - Make Changes'.
2. Scroll down to find Primary Beneficiaries
3. You will see your current distribution type for your beneficiary(ies) then a link that says 'To change this selection, click here'
4. You can then select the trust distribution type: