The joint checkbox option appears when two or more Interested Members are selected on a Liability, Asset, or unearned Cash Flow financial. It has a direct impact on how financial instruments are displayed on the Asset-Map Report and on Beneficiaries.
Unchecked Joint Checkbox
When multiple members have an interest in a cash flow, asset or liability financial, and the joint ownership/liability/cash flow checkbox is unchecked, the financial will be split into multiple tiles and display the dollar value representing the percent interest (click for larger image).
Joint Ownership Checkbox Applied with Both Members in View
When checked the percentage of ownership will be combined onto a single tile that is positioned below the two avatars when the members are both in the middle of the map. These members have a whole interest (ownership) in the dollar value of that financial.
Jointly owned assets and liabilities appear below the displayed avatars.
Percentage of ownership must be specified in the percentage box before updating.
Joint ownership can be granted to members or entities that are not currently visible on the Asset-Map. By default, the Asset-Map displays the Primary Member and Spouse member. Other household members may also be assigned a portion of a financial, even if they are not visible. To view them and their jointly owned assets, click on their name in the member/entity list at the top of the map.
Unchecking the Joint Ownership box will separate the liability/asset and display a value based on the percentage assigned to each member.
Jointly Owned with One Interested Member not in View
Members in the middle of the map can be turned on and off by clicking their nametag at the top of the Asset-Map. (That's called a Layout.) When one member of a jointly owned asset is not visible, then the entire value is present on the asset with (JT) next to the dollar value. This indicates the member jointly owns the full value with another.
Unearned Cash Flows with Joint Recipients
An unearned cash flow is depicted as a percentage across two tiles, displaying the dollar value and percentage when two or more interested members are selected, while the joint recipient checkbox remains unchecked. If the box is checked, both recipients have a full stake in the amount.
Lastly, if for some reason the advisor has put in percentages that don't add up to 100%, then the tile will display both the percent, the dollar value and the (JT) label.
Joint Ownership and Beneficiary Status
Using the joint ownership checkbox has an impact on the primary beneficiary status. It reflects joint ownership with rights of survivorship. Selecting the joint ownership checkbox sets the Primary Beneficiary as the surviving owner in the Primary Beneficiary menu on the Details tab . Any other identifed primary beneficiaries will be moved to contingent. The Primary Beneficiary menu becomes locked, since the surviving co-joint owner becomes the primary beneficiary.
The advisor will be overriding any prior selections in the Details tab's Primary Beneficiary menu and a warning modal will appear confirming this override.
Asset Ownership Status and Primary Beneficiary Status If More Than Two Interested Members Are Chosen
Here is a scenario of three interested members jointly owning a $400,000 asset: Father 50%, Mother 25%, Son 25%.
Display On the Asset-Map
The father isolated on the map will display a tile representing the full amount with a (JT) indicating a joint ownership with someone else. It is assumed that all joint owners have full stake and decision-making ability to the asset (or liability or unearned cash flow).
Likewise, when the adult son or the mother is viewed in isolation on the map, they will show joint ownership of the full amount.
Paring the father and mother display will 75% of the full value. The son holds the other 25% but is not visible on the map
How Primary Beneficiaries are Handled
The primary beneficiary menu will be locked.
On the Beneficiary Review report page the survivors will be displayed as the interested members and primary beneficiaries. The asset value will not be totaled twice.
7/2025