Balance of Estate Overview

How does the balance of estate section work?

The balance of estate section is where you specify the details around the division of the residue. The residue can be divided in two ways - manually by adding segments and gifts within those segments or by running a macro.

How do I manually divide up the residue?

1. Click the “Add Segment” button.
2. Choose a name for your segment - the default is “Segment 1” but this can be changed depending on your division plan.
3. If you are only planning on creating one segment, leave the percentage at 100. If you are planning on creating multiple segments, specify a percentage value for the current segment.
4. Click “Add” in the bottom corner.
5. Now you must add a gift (or gifts) within that segment. Click “+Add gift” and decide if you want to gift absolutely or in a trust.
6. Enter the beneficiary information and fill in the other fields. If you are gifting the entire segment to the specified beneficiary, leave “percentage of segment” at 100. If you are planning on creating multiple gift designations within the segment, specify a different percentage value.
7. Click “Add” in the bottom corner to create the gift.
8. If you are creating multiple segments, click the greyed out “Segments” button in the top left to be brought back to the first page where you can create additional segments.

How do I run a macro?

The “run macro” function speeds up the process by using preset templates to divide up the residue at the click of a button.

1. Click “Run macro” to bring up a list of all macros in your account - both pre-populated system macros and any custom macros you have created.
2. Click the macro you would like to use and the residue division will be automatically updated.

Note: You can always run a macro and then change the details of that gift. Choose the macro that is most similar to the residue breakdown you are trying to create. If you wish to edit the details of the segment (name or percentage), click the three dots on the right and select "Edit" from the drop-down list. If you wish to edit the details of the gift, click the grey bar twice to trigger the pop up window. Make any changes and click "Save" once you are satisfied.