To access the module, click into the file and then select Distributions within the left hand menu.
This is where users can log all of the estate’s distributions to beneficiaries.
There are 2 types of distribution available as buttons in the top right corner. They can be either cash, or in-kind.
- Distribute cash: Select the date at which the distribution was made, as well as the estate account that was debited. Select the Beneficiary and input an amount. If the distribution is a legacy or gift, select the Bequest option. Next, the user can select the associate account (capital or revenue). You can also choose to exclude this transaction from the executor compensation calculation.
- Distribute Item: Select the date at which the distribution was made, the inventory item in question, as well as its current market value. The inventory item can be distributed to multiple beneficiaries. The share entered can never exceed 100%.
The user can generate a report of all distributions made to date, organized by Beneficiary, from the reports tab in the top right corner.
A user can view what each beneficiary is entitled to receive as of today, based on the current value of the estate and what each beneficiary has received so far.
This can also be generated into a report using the reports tab in the top right corner.