I have similar triggers for some of my tables, I use null instead of a future date, but similar idea. I use something like this:
ALTER TRIGGER NameOfTrigger
ON YourStatusTable
AFTER INSERT
AS
BEGIN
UPDATE YourStatusTable SET thru_date = getdate()
FROM inserted where inserted.YourForeignKey = YourTable.YourForeignKey and thru_date = '20500101'
END
Not sure if I am clear in my explanation, I assume that the trigger is on a Status table and YourForeignKey is the reference to the real table
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