From Planipedia
When it comes to Estate Planning, one of the key tools for client’s to identify their wishes is of course the Last Will and Testament.
The Will Information screen can identify the key features of the client and spouse’s Wills and Powers of Attorney.
While all of the information collected on this screen is important, the distributions of three beneficiaries for the client and the spouse. The first two are called “Partial Distributions” and the third is called “Residual Distribution”, meaning anything left over after the first two distributions will go to the residual beneficiary.
You will notice that the Partial Distributions can be done by percent or dollar amount.
The default for distribution on this screen is 100% of the estate to be distributed to the spouse, which probably represents the way a large majority of families have their wills structured.
 United States of America |
| There is a known issue for US Estate Tax where the previous gifts are not captured on the Planning Assumptions leading to a potential understatement of estate taxes. The current work around is to add a separate Business/Other asset in the name of the client with the value of the previous gifts. Run the Estate Analysis separately and save. Return to the Assets & Liabilities and then uncheck the Include in Planning flag so this entry is not added into the net worth. Run the Integrated Plan then replace the Estate section with the one created separately.
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