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The demagnetization and associated magnetocaloric effect in strong-weak-strong ferromagnetic trilayers, upon a reorientation of the strong ferromagnets from parallel to antiparallel magnetization, is simulated using atomistic spin dynamics. The simulations yield non-trivial spin distributions in the antiparallel state, which in turn allows entropy to be calculated directly. Empirical functional forms are obtained for the magnetization distribution in the spacer, differing significantly from some of the commonly used models. Finally, we find that the magnetocaloric effect in the system can be significantly improved by allowing the local exchange to vary through the spacer, which in practice can be implemented by spatially tailoring the spacer's magnetic dilution.