What's New in Estateably - February 2022

What's New in Estateably - February 2022

Some of the highlights for the month include:

  • Expanding our form and letter library
  • Connected bank and investment accounts
  • Improvements to financial functionality  

We are continuously releasing significant updates to our trust administration product - if you want to try the product with early access, you can fill in the form here!

As always, if you have any ideas or comments on features you would like to see added to the platform, let us know through our feedback portal.

1) New Forms & Updates

We have added and updated our library of forms and reports including:

Ontario updates:

Updated Affidavits:
  • Configuring the Jurat per executor (on each executor’s profile), to override the default Jurat per file and allow for different jurats per executor
  • Joint affidavits where there are multiple deponents
Accounting Reports:
  • New option to include or exclude the profits on trustee investments from the executor compensation
  • Deducting transactions flagged as pre-taken compensation from the final compensation calculation
  • New Cash Balance Report
Estate Information Return:
  • Updated form numbers for the Certificate issued, based on the new version of the EIR published on the Ministry of Finance website
  • Based on feedback, updated the fields for broker/agent for investment holdings
Distributions and Beneficiary Reports:
  • Enhanced Distributions reports to account for hotchpot clauses and residue distributed to date
  • Editable Word version of the Beneficiaries List, detailing entitlement and gifts

Alberta updates:

  • Updates: Minor bug corrections and formatting fixes across all NC forms
  • New: NC 6.1
  • New: NC 12.1

British Columbia updates:

  • Updates: formatting on all P forms and other precedents
  • New: Form 17 - Requisition
  • New: Consent to Transfer Assets
  • New: Letter Accompanying Consent to Transfer Assets

2) Financial Functionality Improvements

Accounting configurations:

  • Set a default account for each case file that appears as the selected account when adding a transaction
  • Set a default account type for each case file (eg. suggest capital account for all transactions)

Stock Splits:

  • Create forward or reverse splits on stocks held in investment accounts
Screen Shot 2022-03-09 at 11.38.04 AM

Rename / Nickname Accounts:

  • You can now rename accounts to easily identify them

3) Estateably Sync - Connected Bank and Investment Accounts

We have added the ability to automate the transactional data entry of bank and/or investment accounts by connecting them via Estateably Sync. Once the account credentials are entered, bank or investment account transactions are automatically populated and kept up to date. See it in action here!

Estateably Bank Account Sync

This feature will be available to all professional plan customers, but we are offering a trial for this feature for anyone interested. If you would like to try Estateably Sync on your next file please reach out to our team at support@estateably.com!

4) Trust Administration Improvements

We have added additional flags to track beneficiaries that cannot request distributions. If you would like to get started on your first trust file on Estateably - reach out to our team at support@estateably.com and let us know!

Upcoming Releases

In the coming weeks, we will announce the release of other great features such as:

  • A shareable contacts section for Executors to input their and beneficiary information without an Estateably account
  • Saved contacts that you can reuse on future files
  • Records cash distributions in bulk
  • Lock previous accounting periods

We want to hear your feedback on our feedback portal, a big success since its launch. Click here to learn more about our portal and provide your feedback.

If you have any questions about any of the features listed above or suggestions for future features, please don't hesitate to reach out to us at support@estateably.com.

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