Trust Details
This section contains the information for a managed trust. A trust details consist information such as trust general details, officers, beneficiaries and distributions. When the General Details section of a managed trust is not completed, only the general details section will be enabled and other sections will be disabled.
Mandatory fields are highlighted with the red i. Fields such Trust Type, Regions, Tax Status, Jurisdiction, Status, Tax Status and Sub Status are customable sections which can be configured at Settings > Administrations.
The following sections are available for a Trust Administration
Trust Details - Further details available
Officers - More details available at Officers
Settlors - More details available Settlors
Beneficiaries - More details available at Beneficiaries
Distributions - More details available at Distributions
Trust Details
This section consists of 3 different tabs, Details 1, 2 and Key dates. This section is also controlled by security at Settings > Security > System Security > Administration > Trusts/Foundations > Trust General Details > Trust View
Details 1: this tab consists of the following
Trust Code: text field to enable a trust code to be inputted. This field accepts both letters and numbers. When this field is not completed and left blank, a system generated trust code will be auto generated and displayed for the trust code when the save button is clicked.
Trust Name: this field will be pre-populated with the entity name inputted in the names section. However, the trust name can be edited as required. The …. button beside the trust name field, can also be used to select an existing entity name to be used for the trust name if required.
Jurisdiction: select a jurisdiction for the trust. The dropdown will list all available jurisdiction available. A preset jurisdiction can also be configured at the default value maintenance section.
Trust Type: select a trust type. This dropdown will display all trust type that has been added in the application.
Administrator: select an administrator for the managed trust. To be an administrator, the entity has to be a user on the system and also have the enscretary administrator category assigned to it in the entity wizard > category.
Manager: select a manager for the managed trust. Similar to administrator, the entity has to be a user on the system and also have the enscretary manager category assigned to it in the entity wizard > category.
Region: select a region for the trust.
Status: select a status for the trust.
Governing Law: text field to enable input of governing law if required for a trust.
Sub Status: select a sub status for the trust if required
Other Contacts: text field to input other contacts if required
Telephone: input telephone number for the managed trust
Country: select a country for the trust
Account Currency: select the account currency for the managed trust.
Account Frequency: select account frequency for the managed trust.
Corporate Director: tick box to be used to indicate of trust is a corporate director. When ticked, will indicate the trust is a corporate director.
Notes: to be used to input any relevant notes and information for the managed trust.
Accountant: select an accountant for the trust. The dropdown will display entities with the accountant category assigned to them.
Trust Deed: field to enable the attachment of trust deeds if one is available. Click …. Button to attach the file and the ~ button can be used to view the file.
Click save once all the required information has been inputted. Note, not all fields of the general trust details have to be completed at once, only the mandatory fields are required for the section to save.
Details 2: this tab consists details such as: Protector, Provisions, Domicile, Residence, Trust Corpus Details, Trust Corpus with currency, Income Details, First Minutes, Filing Reference, Special Reporting, Introduced By, Distributions, Variations, Disallow Distributions, Tax Returns (UK), Tax (Other), Tax Letter and Epitome.
The save button will need to be clicked when data are inputted in this tab to ensure it saves and update correctly.
Key Dates: this tab display trust important key dates such as: Execution Date, Account Year End, Review Date, Last Review Date, Letter/Wish Date, Appointment Date, Settlement Date and Perpetuity Date.
The save button will need to be clicked when data are inputted in this tab to ensure it saves and update correctly.
Viewing a Trust Administration via the enVisual top Menu
Trust Administration Entities can also be viewed via the enVisual top Menu. All of the screens are the same apart from Trust Details with some left panel options.
Options such as Edit Trust, Launch Flowpath and Reports are available via the left panel
The following Menu options can also be viewed via the enVisual top menu - Officers, Settlors, Beneficiaries and Distributions