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How to add a bequeathed asset? And distribute it?

This is how to add an asset that is to be directly bequeathed or given in-kind to a beneficiary according to the directions of the Will.

Ailsa Kennedy avatar
Written by Ailsa Kennedy
Updated yesterday

To indicate an asset is to be directly bequeathed to a beneficiary according to the directions of a will, please take the following steps:

  1. Ensure you have added the beneficiary to the Contacts section (as a Legacy/Legatee beneficiary).

  2. Go to Inventory (Probate Only Files) or Estate Accounting tab (Accounting Only & Probate & Accounting files), and click the Assets tab.

  3. Add the asset. If you've already done this, click the three-dot menu next to the existing asset and select "Edit".

  4. After entering the details, you should see a checkbox labeled "Bequest" toward the end of the screen.

  5. Once you check the box, you will be able to select the beneficiary that is entitled to the asset. Hit "Save" to confirm.

If more than one beneficiary is entitled to this asset, you are able to select multiple by choosing "Add Beneficiary".

To distribute this asset, please go to the Distributions tab on the left hand column of pages in the platform.

  1. Select the "Distribute Item" button on the top right hand corner of the page.

  2. Select the Date the item was distributed.

  3. Select the specific asset from the drop down list pre-populated with your Asset inventory under "Item"

  4. If the asset was added as a bequest, following the steps above, the beneficiary details will pre-populate based off of what you indicated they are entitled to receive.

  5. Select "Save"

  6. A corresponding Distribution transaction has now been added to your accounting Transactions screen.

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