Beneficiaries

Beneficiaries

Overview

Actions

Field Descriptions

Availability
  • Standard
  • Professional
  • Enterprise

Overview

Use the Beneficiaries module to document the beneficiaries of an account.  Beneficiaries should be entered for tax-deferred, tax-free (Roth IRA) and transfer on death (TOD) accounts.

Actions

Follow the instructions below to perform tasks such as creating, editing, importing, and exporting Beneficiaries records.

To…

Then…

Create a Beneficiary record

  1. Access the Beneficiaries Create form using one of the following:
    • Click Accounts > Beneficiaries > Create Beneficiaries from the Navigation menu.
    • Click Accounts > Accounts > View Accounts from the Navigation menu, click the related account to view its Beneficiaries sub-panel, then click Create on the Beneficiaries Actions dropdown.
  2. Complete the Beneficiaries Create Form. See Field Descriptions for information about each field. Fields that have an asterisk (*) are required; you must enter data in the field to save the Beneficiary record.
  3. Click Save to save the record and view its detail page, or click Cancel .

Display a list of beneficiaries

Click Accounts > Beneficiaries > View Beneficiaries.
The Beneficiaries List View displays.

Display the details for a Beneficiary record

Click the beneficiary in the Beneficiaries List View.
The Beneficiaries Detail View displays.

Edit beneficiary information

  1. Access the Beneficiaries Edit View by doing one of the following:
    • Click Edit in the Beneficiaries Detail View.
    • Click the edit icon (pencil) associated with the Beneficiary record in the Beneficiaries List View.
  2. Update the Beneficiarie information. See Field Descriptions for information about each field.
  3. Click Save to update the Beneficiary record.

Suppress one or more Beneficiary records

  1. In the Beneficiaries List View, click the Selection box associated with the record(s) you want to suppress.
  2. Click Suppress.
    A confirmation box displays.
  3. Click OK.
    The Beneficiaries records are suppressed.

You can also suppress a single Beneficiary record by clicking Suppress on the Beneficiaries Detail View.

Update information related to multiple beneficiaries

  1. In the Beneficiaries List View, click the Selection box associated with the records you want to update.
  2. Click Mass Update in the Actions dropdown.

For more information, see Editing and suppressing multiple records.

Duplicate beneficiary information

Click Duplicate in the Beneficiaries Detail View. Duplication is a convenient way of creating a similar Beneficiary. You can change and save the information in the duplicate record to create a new Beneficiarie record.

Find and merge duplicate records

Follow the instructions in Merging duplicate records.

Export records

  1. In the Beneficiaries List View, click the Selection box associated with the records you want to export.
  2. Click Export in the dropdown and follow the instructions in Exporting data.

Field Descriptions

Fields that have an asterisk (*) are required; you must enter data in the field to save the Beneficiary record.

Account

Click the Account to which this person is a beneficiary on the Accounts Popup List View (displays upon clicking the Selection arrow) or the list of Accounts matching the character(s) you enter.

Assigned to

By default, the record is assigned to the creator of the Beneficiaries record. To change the assignment, click the user on the Users Popup List View (displays upon clicking the Selection arrow) or the list of users matching the character(s) you enter.

Beneficiary

Click the name of the beneficiary on the Contacts Popup List View (displays upon clicking the Selection arrow) or the list of Contacts matching the character(s) you enter.

Beneficiary 

If the beneficiary does not exist in the contact list and you do not intend to add a Contact record for the beneficiary, enter the name of the beneficiary.

Beneficiary Type

Click the type of beneficiary, such as primary or secondary.

Date Verified

In the Date Selector click the date the beneficiary information was verified.

Percent

Enter the percentage of the account the Beneficiary will receive.

Per Stirpes

Click this check box if the account is to be distributed per stirpes. Per stirpes means that an asset is to be distributed according to blood lines. If an heir predeceases the decedent, then the heir's portion will be distributed in equal shares to his or her children.

Description

Enter additional details about the Beneficiary Record.

 

Teams*

By default, your private team is assigned as the primary team. To change the primary team assignment, click the team on the Teams Popup List View (displays upon clicking the Selection arrow) or the list of teams matching the character(s) you enter.

To assign additional teams to the Beneficiaries record, click add (+) and click the team as described above. For more information on assigning teams, see Assigning Users and Teams to Records.

This is a mandatory field; the Beneficiary record must be assigned to a Team.

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