SQL Server 2012 :: Calculate EndDate From Subsequent StartDate

Here is sample data I am working with:

Create table cattimelines (categoryID int, EffectiveDate datetime, CategoryValue varchar(11))

INSERT INTO cattimelines(categoryID, EffectiveDate, CategoryValue) VALUES(1000, '2014-01-01', 'A')
INSERT INTO cattimelines(categoryID, EffectiveDate, CategoryValue) VALUES(1000, '2014-02-01', 'B')
INSERT INTO cattimelines(categoryID, EffectiveDate, CategoryValue) VALUES(1000, '2014-04-01', 'C')
INSERT INTO cattimelines(categoryID, EffectiveDate, CategoryValue) VALUES(1000, '2014-07-01', 'A')

I need to calculates a term date for each record which will be 1 day before the effective date of any new record, thus:

CATEGORYIDEFFECTIVEDATETERMDATECATEGORYVALUE

10002014-01-012014-01-31A
10002014-02-012014-03-21B
10002014-04-012014-06-30C
10002014-07-01NULLA