How do I distribute to beneficiaries?

This article explains how to distribute cash and assets to beneficiaries and easily access summaries of all distributions made

Overview

• Once you have added assets, liabilities, income and expenses to a case on the platform and start ingathering values and settling liabilities, you’ll see what is available to distribute
• You must ensure you have all beneficiaries added to the case with the relevant role(s) assigned. How do I add beneficiaries?
• There are 3 categories of distribution available:
  • Specific legacy
  • Pecuniary legacy
  • Residuary legacy
• You can view summaries of all distributions made in the estate easily at any time

Page Contents:

How do I add a distribution? 

How do I add a specific legacy?

How do I add a pecuniary legacy?

How do I add a residuary legacy?

How do I select beneficiaries? 

How do I assign and share out distributions?

How do I view distributions?

Adding distributions

• Click into Distributions

• Click Add distribution

• Choose between Specific legacy, Pecuniary legacy or Residue

Specific legacy

• Choose the Asset type required. The list will show any asset you have added to the estate which you have not sold/received the cash value for 
• A list of all assets within that asset type will appear in the drop down, choose the specific asset required in Select asset/cash*
• Assets like life insurances/pensions etc. will be distributed using the auto calculated realised value  

Pecuniary legacy

• Choose if this is an interim or final distribution
• Choose where to distribute the money from in Select asset/cash 

Residuary legacy

• Choose if this is an interim or final distribution
• Choose what you’d like to distribute from the Select asset/cash drop down list

 

Selecting beneficiaries

• Select the beneficiary you’d like to distribute to in Select beneficiary
• Choose if this legacy is subject to a trust or contingency
• If the distribution is subject to a trust or contingency, you will be asked to enter a description for the trust/contingency and confirm who the lead trustee/parent/guardian receiving the funds is. Within the People section of your case, you can update an existing person or add a new person with the Lead trustee, Parent / Guardian role and they will then appear in the list to select. How do I add people?

• Click Add beneficiary
• If more than one beneficiary is required, click Add new beneficiary and repeat:

• If this is a final residual payment involving cash from the client cash account, the below question will appear and allow you to choose if you want to remove unsettled expenses and liabilities from the total available for distribution:

 

Assigning distributions

• Choose How you would like to assign the distribution? 

Sole beneficiary

• Available for all distribution types if there is one beneficiary
 

Equally

• Available where 2 or more beneficiaries have been added for specific or residuary distributions

Percentage

• Available where 2 or more beneficiaries have been added for specific or residuary distributions
• Use when you want flexibility to share assets or funds by a specific percentage to 2 decimal places

Shares

• Available where 2 or more beneficiaries have been added for specific or residuary distributions
• Use when you want flexibility to share assets or funds by shares or fractions, simply enter the total number of shares or the bottom number of your fraction (denominator) in the Total number of equal shares box

Manual entry £ value

• Available where 2 or more beneficiaries have been added for specific or residuary distributions and where 1 beneficiary has been added for pecuniary and interim residue distributions 
• Use when you need flexibility to add very specific amounts 

 

• Add the Date of distribution
• Click Add distribution

View all distributions

• Once you have added all distributions you will see them summarised in the Distributions overview
• From the Distributions overview you can edit or delete

• To edit, click anywhere on the relevant distribution to open
• Make the required changes
• Click Update distribution

• To delete, click on the three dots to the right of the relevant distribution
• Click Delete

• You can view the distributions within the estate accounts area and the output. click in to Estate accounts and from there you can view the full menu:

• Within Summary, once you have added distributions you will see information populate under Beneficiaries details
• Within Distributions, you will see distributions you have added within Assets appropriated
• Within Reconciliation, you will see the total amount distributed and any amount left to be distributed
• Within Client cash account, you will see any distributions that have been made from the client cash account
• To view the full set of Estate Accounts, click Export
• If you click to export as PDF, on the first page you will see a Synopsis of will, including legacies:

• Scroll down to see the Distribution page which is listed at the end:

• If you click to export to excel, open the excel document when the download has completed and view distributions within the Distributions tab