When setting up a grantor trust for the first time requires input in two places, with an option to edit and update the grantor letter in a different location.
To select the entity:
- Go to Input Return ⮕ Client Information.
- Scroll down to Miscellaneous Info section.
- Select 4 = Grantor Trust from the Type of Entity dropdown box.
To set up the beneficiary information:
- Go to Input Return ⮕ Beneficiary/Grantor Info. ⮕ Beneficiary/Grantor Information.
- Enter the information for the beneficiary
- Click the plus sign (+) at the top of your screen to add or remove beneficiaries, if needed.
- Go to Grantor Distributions.
- Enter the amounts in the Grantor Percentages subsection.
To edit the grantor letter:
- Go to Input Return ⮕ Beneficiary/Grantor Info.
- Go to Grantor Letter Options.
- Scroll through the options to change the appearance and content of the letter.
- For example, you can add or remove a graphic border by entering 1 or 2 in Print graphics border: 1=yes, 2=no [Override]