This action can be taken on the following file types:
Probate and Accounting
Estate Accounting
Trust Administration
POA Administration
Several corporate actions can be taken on holdings within Estateably.
To access holdings you've added to accounts:
In the Inventory section of Estateably, locate the bank account that holds the asset.
Click on the three-dot menu, and select "View holdings" in the drop-down.
Liquidate holdings partially or in full
Liquidate holdings partially or in full
Applicable to all holding types.
Click on the three-dot menu next to the holding.
Select "Liquidate" in the drop-down.
Complete the fields in the form to create a sale transaction. You can indicate the quantity of shares and the value liquidated.
Once the transaction is saved:
The quantity of the holding will be reduced by the amount sold.
The Accounting log will show a transaction for the full value of liquidation.
The accounting reports will automatically calculate profit/loss on the liquidation if applicable.
Distribute holdings to beneficiaries (Estate and Trusts)
Distribute holdings to beneficiaries (Estate and Trusts)
Applicable to all holding types.
Click on the three-dot menu next to the holding.
Select "Distribute" in the drop-down.
Complete the fields in the form to create a distribution to a beneficiary/multiple beneficiaries. Indicate the quantity of shares distributed and their value.
Once the transaction is saved:
The quantity of the holding will be reduced by the amount distributed.
The Distributions log will show a transaction to indicate the holding's value leaving the estate.
The value of the holdings will be deducted from the beneficiary's/beneficiaries' entitlement.
Transfer executor/trustee/guardian-purchased holdings to another account
Transfer executor/trustee/guardian-purchased holdings to another account
Applicable to all holding types.
Click on the three-dot menu next to the holding.
Select "Transfer Current Holdings" in the drop-down.
Enter a transfer date, and select the destination account.
Once the transfer is saved:
The holding will be moved from the initial account to the destination account.
The Accounting log will show a corresponding debit and credit transaction to indicate value moved from one account to the other.
Transfer original holdings to another account (Estates and POAs)
Transfer original holdings to another account (Estates and POAs)
Applicable to all holding types.
Access the main Inventory section.
Click on the three-dot menu next to the account holding the assets you'd like to transfer.
In the dropdown, select "Transfer Original Holdings".
A warning prompt will appear; click "Proceed" to continue.
Enter a transfer date, and select the destination account.
Once the transfer is saved:
The holding will be moved from the initial account to the destination account.
Note: at this time, it is not possible to move specific original holdings to a destination account. All original holdings must be transferred out at the same time.
Buy more/reinvest purchased holdings
Buy more/reinvest purchased holdings
Applicable to all holding types.
Click on the three-dot menu next to the holding.
Select "Buy more holdings" in the drop-down.
Complete the fields in the form to create a purchase transaction. Indicate the quantity of shares and the value at purchase.
To indicate a reinvestment: check the Reinvestment box at the bottom of the screen. Then, select the type of reinvestment.
Once the transaction is saved:
The quantity of the holding will be increased by the amount purchased.
The Accounting log will show a transaction for the holding purchase.
For reinvestments: the accounting log will also show the interest/dividend/distribution value into the account.
The platform will automatically update the book cost of the holding in the backend.
Note: to indicate more of an original asset was purchased, you would need to create a new holding.
Average cost base (ACB) adjustment
Average cost base (ACB) adjustment
Applicable to all holding types.
Click on the three-dot menu next to the holding.
Select "Adjust ACB" in the drop-down.
Complete the fields in the form to create an ACB adjustment. You can choose whether you would like to report it as a deposit or withdrawal.
Once the transaction is saved:
The cost base of the holding will be updated.
The Accounting log will show a $0 transaction indicating that the holding's ACB was changed.
The book cost of the holding will be updated in the back end.
Return of capital (ROC)
Return of capital (ROC)
Applicable to the following holding types:
Stocks
ETFs/Mutual Funds
Debentures
Deriviatives
Equities
Fixed-income
Other
To perform an ROC:
Click on the three-dot menu next to the holding.
Select "Return of Capital" in the drop-down.
Complete the fields in the form to create an ROC transaction.
Once the transaction is saved:
The Accounting log will show a debit and credit for the value of the liquidation (balancing at $0.)
The book cost of the holding will be updated in the back end.
Perform a stock split
Perform a stock split
Applicable to stocks only.
Click on the three-dot menu next to the holding.
Select "Stock Split" in the drop-down.
Complete the fields in the form to create the stock split. Indicate the total new quantity.
Once the transaction is saved:
The quantity of the holding will be adjusted to match the total new quantity.
The Accounting log will show a $0 transaction representing the stock split.
The book cost will remain the same.