By adding a beneficiary profile, we can generate all forms and letters with the entered information if required. Additionally, this will make them available to be selected for distributions at that stage of the estate administration process.
To Add a Beneficiary Profile:
Go to the "Contacts" page of the platform.
Select the "Add New" button in the top right corner of the Contacts section.
Enter the following information:
Legacy Type*
Name
Contact information (phone number, email, mailing address, etc.)
If a Residual Beneficiary - Allocation percentage/fraction
Relationship to the Deceased
Indicate whether the beneficiary is a minor, mentally incapable, and/or not being served
If the following information is applicable to the case, indicate:
Name (if different in the Will)
SIN/SSN
Date of birth
Date of death
Cash bequest
Money owed back to the deceased
Information of a legal representative
*Legacy type refers to what the beneficiary is entitled too as per the directions of the will, or following your jurisdictions intestacy laws. In most jurisdictions we label the types as "Residual" and "Legacy".
Residual = Entitled to Residue of the Estate. Their allocation would be based off of what is directed in the will, or Intestacy Laws.
Legacy = Entitled to a specific Cash Gift or Bequest.
Note: Additional optional fields may be located below the "Notes" section of the beneficiary profile depending on your current jurisdiction.
Click the "Add" button to complete the process.
To Edit a Beneficiary Profile:
Click the three ellipses next to the chosen beneficiary's name.
In the drop-down menu that appears, choose "Edit."
Ensure you click "Save" once you've made the appropriate changes.
Note: if the beneficiary you've added is also an acting executor, you can click on the three-dot menu, choose "Make executor" in the drop-down list, and that will automatically copy their details over to that section and create an Executor profile for them as well.