How to distribute items in-kind
Follow the steps below to distribute items to beneficiaries from the Distributions section.
- Select the Distribute Item button to record distributions from the Inventory to a Beneficiary or Beneficiaries.
- Enter the date of the transaction (by default, it will be the day of.)
- Choose the Item Type as it is listed in the Inventory. Once you've done this, the dropdown will allow you to select the asset to be distributed.
- Upon selecting the asset, the current market value will be suggested based on the current value entered to the Inventory. You can adjust this as necessary.
- Choose whether the distribution will come from the Capital or Revenue/Income accounts.
- Select the beneficiary that will receive the item. Once you do, a Transaction Name will be suggested for you.
- If the item has been allocated to multiple beneficiaries, choose "+ Add Beneficiary" to enter others. By default, the allocation will be split evenly. However, you can use the Allocation Type field to specify the percentage/fraction each beneficiary will receive.
- If the value of the transaction is being excluded from the executor/trustee compensation, you can indicate this by checking off the box.
- Hit "Save." Note that once you've added the distribution, the transaction will automatically be logged, and the item will be marked as "Realized" in the inventory.