Beneficiaries
Availability
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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 |
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Display a list of beneficiaries |
Click Accounts > Beneficiaries > View Beneficiaries. |
Display the details for a Beneficiary record |
Click the beneficiary in the Beneficiaries List View. |
Edit beneficiary information |
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Suppress one or more Beneficiary records |
You can also suppress a single Beneficiary record by clicking Suppress on the Beneficiaries Detail View. |
Update information related to multiple beneficiaries |
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 |
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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.
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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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