Introducing Estateably Trust Administration

Introducing Estateably Trust Administration

Introducing Estateably Trust Administration. Estateably is the ultimate trust administration software specifically designed with lawyers' and trustees' preferences in mind. Bound by the duty to account, trustees and their attorneys have been searching for intuitive and accurate software simplifying trust administration. 

They need to look no further. 

Estateably understands the pressures of staying organized, the frustrations of wasting time on repetitive work, and the need to always remain ready to render accounts. Find out how Estateably's productivity and accounting software can streamline your trust files and strengthen the trustee-beneficiary relationship. 

Task List

Keep your trust administration process organized with our preset and customizable task list. 

New to trusts? Follow our default trust task list from start to finish. While working through the trust administration, keep tabs on each task with assigned due dates, task status, and the ability to attach notes and to-do lists to each action. 

Working with a team member or trustee? Assign them tasks and leave notes to stay up to date on each file. 

Have a checklist of your own? Seamlessly import your tasks into our software and enjoy the ease of having all your trust administration tools in one place. Keep deadlines and mark them completed to stay on top of every file.

Contacts

Store the contact information of all the stakeholders in each trust file. For beneficiaries, keep track of whether they may encroach on capital, the type of interest they maintain, and the contact information of their legal representatives. Keep tabs on the trustees as well, including each trustee's role on the file, their TIN number, and all needed contact information. Include other important contacts, such as accountants, landlords, wealth advisors, and notaries. Estateably will then use these contacts to track both disbursements and payments before generating accounting reports. 

Forms and Letters

Input the general information about the trust into Estateably once, then let our software automatically generate forms and letters for your trust file. Instantly draft Trust Number Application forms, Beneficiary Receipt and Release, various affidavits, and more. All court forms and letters are downloadable and editable as Word or PDF documents. Once generated, these forms (and reports) are automatically saved and stored in the file. 

Easily manage and maintain different versions of your forms for simple organization and safekeeping. Upload any forms and documents of your own. When ready, bulk export the documents for any submissions. If working on a testamentary trust, seamlessly integrate the estate administration and trust administration files to tackle their issues side by side.


Inventory

Keep on top of a changing record of inventory. Quickly record all of the trust assets easily with searching and autofill features, then view the assets on a single page. Include all forms of assets, including cash, income receivable, real estate, and stakes in private companies. Keep track of the capital and income amounts throughout the lifetime of the trust. If a testamentary trust, instantly calculate the stock and bond values from the date of death. Review the trust assets at a glance with our intuitive inventory system.  

View the holdings of your bank and investment accounts. Choose between bonds, stocks, mutual funds, and more. Record various trust bank accounts and their holdings; Estateably will track the investment's change in value directly, saving you the hassle of calculating each account or stock's performance. Use Docuvision's AI technology to scan financial statements and automatically add the assets into Estateably. Otherwise, simply input the asset and our software will list the latest unit price and calculate the total market value in various currencies. Estateably will keep track of market price changes so that you don't have to. Have a clear understanding of your portfolio at a touch of a button, without pouring through online banks or paper files. 

Compensation Fees

Easily calculate the compensation fees. Keep track of administration expenses and the services' compensation with our app. If taking compensation based on the disbursements or transfers, Estateably can help automatically calculate these percentages every time you transfer assets. 

Distributions

Keep track of your distributions. View the beneficiary bequest and residue entitlements before transferring them their payment. Record all of the beneficiaries' requests for distributions and the answers to them. Coming soon, our client portal will allow beneficiaries to ping the trustee directly with their requests through our client portal. 

When a distribution to a beneficiary is made, quickly and easily log it on the website. Once the allocations are inputted, the residual value of the assets will adjust, giving you up-to-date snapshots of the beneficiaries' entitlement. Create a proposed distribution schedule for the future to plan for the trust's future. Provide all this information to the beneficiaries and other interested parties with ease. 


If a file starts getting complicated, easily generate a distributions report detailing the distributions made to each beneficiary. Sorted by each recipient, this document can help a trustee conduct an equitable distribution of the trust's assets. Never overlook the payment of a beneficiary again.

Trust Accounting

Effortlessly generate accounting reports throughout the life of the trust. Estateably's powerful and intuitive accounting program can track transactions, calculate fees, and generate accounting reports with one click. Easily crunch the numbers with our tailored software. Record trust investment transactions (including dividend reinvestments), automatically recalculate adjusted cost base following reinvestments, and keep track of executor compensation and management fees directly on the account. Our accounting software is specifically designed to incorporate all sorts of peculiarities unique to trusts. 

Seamlessly generate an accounting report (statement of accounts) whenever you wish. Choose the period of your report and whether to include your notes on each transaction. Change the type of compensation you'd like calculated for the report. Finally, select the sections you'd like to include to personalize every report. Possible sections include: 

  • Cover and Index
  • Reconciliation
  • Assets at the Beginning of the Period
  • Capital Receipts
  • Capital Disbursements
  • Revenue Receipts
  • Revenue Disbursements
  • Unrealized Original Assets
  • Investment Transactions
  • Trustee Investments on Hand
  • Outstanding Liabilities
  • Claim for Compensation
  • Care and Management

Keep track of assets in easy-to-read tables that beneficiaries and courts will appreciate. 

Our reports record the trustee compensation and the reasoning behind the fees. Bolster the beneficiaries' confidence in the trustee's conduct by itemizing their future payments. Always keep this information on hand to help prevent any conflict.

Other reports tracking assets are also available. Generate a holdings report to track your holdings in individual banks. Send this easy-to-read report to interested parties, such as beneficiaries, investment managers, and other advisors. Or keep track of any transactions within banks with our transactions record. Use Estateably for customizable reports to communicate any development in your trust files.

Conclusion

It has never been easier to update your beneficiaries on their trust holdings and administration. Ensure that your trust is well managed and accurately recorded with the click of a button. Finally, look forward to tax season by effortlessly accessing and calculating the trust's asset value. Never stress about the assets or accounting of a trust file ever again. Book an Estateably demo today to further view these features and to discuss pricing. 

Edward Khidirov
Edward Khidirov is the Lead Legal Researcher at Estateably. He is currently a J.D./B.C.L. candidate at McGill University Faculty of Law. Edward holds a Joint Honors B.A. in History and Political Science from McGill University Faculty of Arts.
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