In this article

  • Purpose
  • How Designate the Beneficiary
  • View/Create the Beneficiary Report
  • Interpret the report

Purpose

The Beneficiary Report serves as a checklist that adds value to your client meeting conversations. You'll be able to clearly show your clients which assets are assigned to a beneficiary and which are not, as well as the values assigned to them. The report is found on the Reports tab of a household.

How to Designate the Beneficiary

Utilize the Beneficiary field on the Details tab of financial assets and cash flows on their Asset-Map.

  1. Click an asset to edit
  2. Then click the Details tab. 
  3. Select the beneficiary from the drop-down.
    *If the beneficiary is not a member of the household, add them using the Add Person choice in the tools menu.

If you divide an asset among two or more beneficiaries, you have the ability to enter percentages of the value that should go to each one.

View/Create the Beneficiary Report

1. View the report within Asset-Map platform

From the Reports tab, click Beneficiary Report to view the checklist within the platform.

  • Adjust whose assets you are viewing using the drop-down menu at the top.
  • View asset descriptions in the Name column
  • See which asset values are unassigned on the left
  • See which asset values are assigned on the right
  • Gray values are joint assets whose inheritor is assumed. Assign as necessary on the asset on their map.

2. Create a PDF of the Beneficiary Report
Click the Reports tab. Use the check boxes to decide whose designations to generate. Click "PDF" to generate an electronic version of the Beneficiary Report. 

3. Add the Beneficiary Report to the Comprehensive Report
Click the Reports tab. Check the box next to the Beneficiary Report title. Then check the boxes of the specific member's to include in the Comprehensive Report.

Interpret the report

Use the Beneficiary report in your client meetings to discuss estate planning and as an important checklist to ensure this aspect of their financial situation is addressed.  

Our Support Center is online 24 hours a day. Click the question mark in the upper right area of the Asset-Map platform to search for answers to your questions.

2/2020

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