A trust is created while you're alive and funded with the assets that you want to place into the trust. As the trustee of the trust, you will manage and use the trust assets during the lifetime. You can revoke or change your trust anytime you want. If you become incapacitated your chosen successor trustee will continue to manage the trust assets for your exclusive benefit until you recovery. If you pass away, your successor trustee(s) will gather the trust assets and then distribute them to the beneficiaries of the trust according to your instructions. You can divide your trust estate into percentages for your beneficiaries, or you can leave certain items of real or personal property to specific individuals. Assets can also be held in trust for certain beneficiaries until they reach certain ages or fulfill other specific requirements. Check out the Special Provisions section in your Modern Trust document dashboard to see a variety of special provisions, like education clauses, anti-drug and substance abuse provisions, etc. When the last asset is distributed from the trust to the beneficiaries of the trust, and when the trust is finally empty and has fulfilled its purpose, it can be terminated.