Adding holdings to Estateably is a two-part process— first, the holding account (i.e. an Investment Account) needs to be created, and then the holdings within can be added.
Follow the steps below to complete the process.
1. Adding the holding account
Begin by adding an Investment Account to the case. Enter the following details:
- Date of death/original value (for an Investment Account of the deceased/grantor);
- Current value;
- Ownership (and, if jointly owned, ownership percentage; only for a Deceased Investment Account);
- Purchase price (optional; only for a Deceased Investment Account);
- Account type (chequing, savings, etc.; only for a Deceased Investment Account);
- Holding institution;
- Branch details of the holding institution (optional);
- Deceased Bank Account only: Indicate whether the item passes through or outside of the estate;
- Deceased Bank Account only: Indicate whether the account has been bequeathed to a specific beneficiary/beneficiaries
Then, save the item.
2. Adding the holding (GICs, stocks, mutual funds, etc.)
Once the account is created, you can click on the three-dot menu next to the item in the Inventory, and choose "View holdings" in the drop-down list.
In the top-right corner of the page, choose Add Holdings.
You can select from the following asset classes:
- Accrued interest
- Cash (Deceased Investment Account only)
- Guaranteed Investment Certificates
- Mutual funds
Based on the asset class you choose, you can enter related details about the holding.
When creating a holding in an Estate, POA, or Trust Investment Account, you will also be able to enter the date the investment was purchased in the Transaction Date field. Saving the holding creates a transaction in the Accounting module.
Additionally, for relevant asset classes, you can leverage Estateably's live ticker search by searching for the ticker symbol and selecting it in the drop-down list. It will automatically populate the date of death price if the holding is an Original Asset, the current price, and will calculate the relevant conversions to the local currency if necessary.
Note: If you have already associated a DOD/Current value to a Deceased Investment Account, the moment you add a single holding to the account, that initial “container” level value will be overwritten by the value of that newly added holding.
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