Pooled Trusts

When creating a Trust gift, there are different payout options.  

Most commonly, when you have more than one individual beneficiary, for example the client's children, the client will want a separate trust for each child. In that case, you would be creating separate trusts.

The alternative when there are multiple beneficiaries is to have them all as beneficiaries of a single trust with the discretion given to the trustee to allocate the money among the beneficiaries. That is called a pooled trust. A pooled trust can exist with a group of named beneficiaries or a class of beneficiaries or a single beneficiary plus that person's children/descendants/spouse.  

In some cases you may want a separate pooled trust for each beneficiary and that beneficiary's family.  For example, the beneficiaries are the Children, but we want to create a separate pooled trust for each child and their children.  In that case, select "Separate pooled trust for each beneficiary".  Since a pooled trust must always have more than one beneficiary, you would be required to choose the additional beneficiaries for each trust.

How do I create a pooled trust?

1. Go to the Scenarios tab and create an initial gift or residue gift. 
2. Choose your beneficiaries and select the trust gift option.
3. Under Payout, select Pooled Trust(s).
4. Decide if you want separate pooled trusts for each beneficiary and if you want to include beneficiary's issue, children or spouse.