Probate Plus knowledgebase
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Transferring assets

HOW : From the Asset browser, select the asset, and right-click it. Select 'Transfer asset to…'. Alternatively, choose the relevant "transfer" option from the left-hand task panel.

You can transfer an asset by way of appropriation (where a beneficiary takes an asset in lieu of cash residue) or as a specific gift to a legatee. Of course, you'll need to have added details of the asset in the first place, but it's a simple process.

Specific gift notes:
If an asset passes as a specific gift you can only show the asset passing at the probate value.

Appropriation notes:
When passing assets by appropriation to a residuary beneficiary you can agree a value for the assets at a point in time - an appropriation day. Probate Plus will take the change in value on appropriation into account automatically for you. The beneficiaries personal account will show details of the assets taken in kind.

If single "at-death" asset has been transferred to more than one beneficiary, you can set the transfer quantity to a fractional quantity in order to split the asset between the beneficiaries. E.g. quantity 0.25 to ResBen #1 and 0.75 to ResBen #2 would show a 1/4 share passing to one beneficiary and 3/4 to the other.

 

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