What is beneficiary reporting?

Overview

Beneficiary Reporting is a powerful visualization feature that helps advisors and clients clearly understand who has access to various assets and trusts today and how an estate will ultimately be distributed. It provides a complete, beneficiary-level view of current access, scheduled future access, and distribution milestones based on death events, trust rules, and age-based entitlements.

Key use cases

Beneficiary reporting supports three primary use cases:

1. Across all individuals and organizations that currently or will in the future benefit from the estate, how does each person benefit?

2. On an individual beneficiary level, what can people access today?

   1. Current access includes any accounts or trusts that people are owners of or have access to, whether the access includes scheduled distributions, discretionary access like HEMS, or full unfettered access

3. On an individual beneficiary level, what can people access in the future and at what points can they access?

   1. Future access includes scheduled trust distributions, death-based access or distributions or age-based access or distributions.

In each case, advisors can produce a clear, client-facing deliverable that outlines total current and future access as well as a detailed breakdown of how this access is calculated.

Key capabilities

The beneficiary report is automatically created and updated based on the underlying client profile data. It is populated from:

• The Current access tab that defines, for each account or entity, who has current access to the assets

• The Dispositions tab that defines, for each account or entity, how the assets will be distributed based on client death events.

All beneficiary overview

Provides a visual overview of every person or organization that benefits from the estate plan and outlines what they have access to today and what they will receive in the future after client death events.

Individual beneficiary diagram view

Provides a visual overview of how a beneficiary's access changes over time. The diagram view includes what the beneficiary has access to in trust as well as what direct distributions will be made to them.

Individual beneficiary detail view

Provides a tabular overview of how exactly what the beneficiary has access to, both now and in the future. This view includes specific assets and entities along with their projected values.

Related articles

📄 Beneficiary reporting: How to guide

📄 Beneficiary reporting: Key terms and calculation methodology