Physical Shareholding Asset Explained

• Video: How to add Date of Death details for a Physical Shareholding
• Step-by-Step guide: Adding Date of Death details
• Step-by-Step Guide: Transactions Tab
• Video: How to add income to a Physical Shareholding
• Step-by-Step guide: Adding Income
• Video: How to add expenses to a Physical Shareholding
• Step-by-Step Guide: Adding Expenses
• Video: How to add a realisation to a Physical Shareholding
• Step-by-Step Guide: Adding Realisations
• Video: How to add a distribution to a Physical Shareholding
• Step-by-step Guide: Adding Distributions

Video: How to add Date of Death details for a Physical Shareholding

Adding Date of Death details

• To add a Physical Shareholding asset, choose the Savings & investments tile from the asset ribbon
• From the drop-down menu click the Physical Shareholdings option

• In the Shareholding details section complete the relevant fields, as required 
• As you begin typing in the Name of shareholding and Share Registrar fields, a dropdown list of matching options will appear for you to select
• You can also enter the information manually as free text

• When it comes to selecting the address for the shareholding you have 2 options:

  • Our Estatesearch powered Share Registrar address book will auto populate a Suggested address for the appropriate Share Registrar selected

• • Or you are able to Search for an address or Manually enter address

• When selecting Yes to Owned for 2 years, an additional question will appear asking whether you intend to claim Business Property Relief (BPR). If you also select Yes to this question, the value of the BPR claim can be entered in the Asset Value section (at either 50% or 100%)

• After completing the remaining Asset ownership and Share asset profile sections, a tooltip will appear to explain which Inheritance Tax Form the asset will populate

• In the Asset Value section the Trading currency field will automatically default to GBP - British Pound Sterling, but this can be changed using the drop down menu

• After saving the Physical Shareholding asset, you're able to attach any asset-specific documents and record any asset-specific notes using the options on the right hand side

Transactions Tab

• The Asset Summary table, under the Transactions tab, will track and record every transaction relating to the Shareholding, whether it impacted the asset value or not

• There is a running tally of the Number of Shares and a Gain/Loss section, all available within the Asset Summary

• The Transaction History section allows you to manage all transactions within the Shareholding Asset itself

Video: How to add income to a Physical Shareholding

Adding Income

• To add Income to a Physical Shareholding select Add Income from the drop-down menu that appears after clicking Add Transaction
• The Income Source will default to Dividend and a Cash value or Quantity of Shares can be added as the Income method

• Adding income as a Cash Value enables the option to pay income directly into the deceased's bank account by selecting this option in the Payment to field. Any income paid this way will be deducted from the Income payments to other accounts row in the Asset Summary to balance the Remaining asset value

Video: How to add expenses to a Physical Shareholding

Adding Expenses

• To add an Expense to a Physical Shareholding select Add Expense from the drop-down menu that appears after clicking Add Transaction
• The Type of expense will default to Asset Sale, with the specific Shareholding asset details populating the Asset type and Asset fields automatically
• To settle the expense from the value of the Shareholding asset, Proceeds of sale will need to be selected in the Payment from field
• You are able to choose whether to settle an expense from all available shares within the asset, just Date of Death shares, or if income has been added as Quantity of Shares, then the expense can be settled from these 'new' shares as well

• The expense will appear in red on the Transactions History section and will be accounted for on the Total expenses value row of the Asset Summary table
• The Shares sold for expenses row, within the Number of Shares tab will also update when the expense is settled from the value of the Shareholding asset
• If an expense has been settled using a different source (Proceeds of sale is not selected for the Payment from field), then the Transaction History table will identify the Source of the payment and the value will also show in the Expenses paid from other accounts row to balance the Remaining asset value

Video: How to add a realisation to a Physical Shareholding

Adding Realisation

• If Shares were sold a realisation can be added using the Add Transaction button 
• Once you have selected Add realisation, use the Shares to realise* field to specify whether the shares being sold existed at the Date of Death, or were 'newly' purchased using income
• Shares can be realised directly into the Client cash account, into the deceased's bank account or to Other

• After adding the Quantity of shares* and Share price* the platform will automatically calculate the gain/loss on the Shares in the Realisation Summary

• The Transactions History section will show the realisation in yellow, once a realisation has been saved
• The Total sold value and Total gain/loss rows will also update in the Asset Summary table, along with the Number of Shares and Gain/Loss tabs

Video: How to add a distribution to a Physical Shareholding

Adding Distributions

• To make a final distribution for the Physical Shareholdings asset, select Add Distribution from the drop-down menu that appears after clicking Add Transaction

• After marking the Type of distribution* as a Residuary Legacy and stating it is a final distribution being made, you're able to select the specific Share asset from the Select asset/cash* drop down menu
• Under the Distribution Assignment section there is a specific Shareholding option that will let you apply different distribution types to each Beneficiary 
• The Distribution summary will then show the value of shares that have been sold and the value of shares that have been transferred

• The distribution will be reflected on the Asset Summary table in the Total sold value and Total transferred value rows and in the Shares sold and Shares transferred rows under the Number of shares tab

• Any gain/loss on the final distribution of shares will also update the Gain/Loss tab