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A trust can remain up and running for 21 years, but it doesn't have to. Many trusts end soon after a person's death.It depends on the terms of the trust. Inter vivos (living) trusts are generally revocable and amendable but the grantor can make them irrevocable. A perpetual trust is a type of trust that is used to pass down property from generation to generation. Learn how to execute a living trust after death in California with our stepbystep guide, covering essential documents, tax filing, and asset distribution. A trust can remain open up to 21 years after the death of the last person who was alive at the time the trust was made. A living trust is like a treasure chest for your assets while you're alive you can hold the keys and you can take things out. Trusts generally do not have an expiration date in the sense of automatically terminating at some fixed point in time. After you've created your Trust documents, there are three important steps to consider.