Managing Beneficiaries in EstateCopilot

A short guide to adding beneficiaries in EstateCopilot. Beneficiaries can be added with their name, relationship to the deceased and email address. A beneficiary can inherit a percentage amount from the residue of the estate, a fixed amount and/or specific gifts. The allocation can be selected and the amount entered. Add any specific gifts as appropriate.

Once the beneficiary is added they can be invited to view their allocation in our Beneficiary Portal. This gives them access to a very high level summary of the status of the estate (e.g. Probate Application Submitted), an estimate of their financial allocation based on the assets and debts added to the system. There is no obligation to invite beneficiaries, however it can help them understand the status of the process and see resources that explain the process.

Many beneficiaries find this transparency helpful and it can reduce the communication workload for executors. We make it clear that all financial figures are estimates and that their share of the inheritance many change as assets and debts are discovered and expenses are incurred.