Settings and Defaults

Transcription

1 Settings and Defaults User Guide Settings and Defaults moneytree.com Toll free

2 Settings and Defaults Sets program defaults to be used for new contacts. Benefits: Elimination of repetitive data entry for each new contact. Maintaining a consistent planning profile. Each default entry can be overridden within a specific scenario.

3 Settings/Defaults Menu From the Tools menu, select Settings/Defaults New Contacts to open the window to enter the default rates to be used in the program, company information such as address, and other important set up information which will be used each time a new client is created or a new scenario for an existing client.

4 Account Types Add, Delete, or Revise Account Types here. These account types will be used to identify different types of clients. Some examples are: Commission, Hourly fee, Annual Retainer, and Pro-Bono. Set up a number of Account Types, then specify the Account Type for each contact as you enter their contact data within the plan.

5 Asset Classes In the Asset Class settings, we will provide default classes using a performance based identification. Change the names, or add up to 21 classes. Classes are used to sort the assets and provide a visual breakdown of the clients portfolio.

6 Asset Classes: Continued An example of revised and additional classes is shown above, including default rates. Set up asset classes before starting to enter contact data, defaults will only be applied to new clients or scenarios. If a plan is created and then the defaults are changed, changes will need to be made within the plan as well as in the Settings/Default inputs.

7 Asset Class Allocation Edit the suggested allocation percent to align with each risk level portfolio. Each column must total 100% These suggestions will be used on the Asset Allocation Graph and their percentages will dictate the suggested financial changes that the client should make to their portfolio in order to match the suggested portfolio.

8 Asset Rates Set the default rates for each asset type here. Pre-Retirement rates apply to assets unless a different rate is entered in the asset details. Post-Retirement rates will only be applied starting at retirement and only if the Use this Rate After Retirement check box is selected. Use this rate after retirement: Overrides all asset rates at retirement age, meaning that if rates have been entered into the asset details those rates will be overridden by these Post-Retirement Rates.

9 Reinvestment of Surplus Use this section to tell the program how to reinvest surplus cash flow. These reinvestment rates are used throughout the plan for Golden Years, and after retirement for Easy Money. Select Edit Allocation to make changes.

10 Personal Expenses This is the default list of expenses, modify them to suit the needs of the general client base. The buttons on the right hand side are used to edit, add, delete, or re-order items to create new default annual expense list.

11 Company Information Company information is not used for the reports.

12 Cover Page Logo/Title To add a logo to the cover page select Browse and navigate to the file location of the desired image. Specify default report titles for Easy Money and Golden Years to be used on the cover page.

13 City / State If the majority of clients live within the same city, state, zip, etc., use this form to have these items auto-filled for new contacts. Fill in or leave blank any combination of these fields.

14 Dependent Information Enter the default settings to be used in dependent inputs within each scenario. These settings may be changed on a scenario level within each client.

15 Report Defaults These report settings will be used whenever a new client or scenario is created. If a client has been created prior to setting up defaults, report settings will need to be changed within each scenario predating the changes in defaults.

16 Report Templates This tool is also accessible by selecting Report Selection, and Create/Modify Custom Report Set. Choose the report style desired, Easy Money for goal based planning or Golden Years for cash flow based. Once the desired pages have been selected and added to the Selected Pages pane, select Save and give the custom report set a name. This report set will now be available for selection under

17 Easy Money: Monthly Accumulation Rates On the Retirement Capital Analysis report, if there is a retirement capital shortfall, one of the options offered to make up the shortage is to increase the amount of money added to assets each month. The report contains three different after-tax rates of return to show the client the dramatic differences between various rates. The program currently defaults to 5%, 7% and 9% as the Low, Medium and High rate, respectively. By adjusting the numbers here, you can have the report default to the interest numbers you prefer.

18 Easy Money: Tax Favored Investing Tax favored Investing is a simple way to show the client the tax treatment of an investment can make a dramatic difference in the amount of money that may be accumulated and spendable income available. This is an illustration only, not designed as a specific recommendation to individual 1. Enter a before-tax rate of return on 5 different types of investment accounts. Control dollar amounts of initial balance and additions, and show a different before-tax rate of return on each account. After 20 years, Total computes the annual payout required to fully liquidate accounts using principal and interest over the client's remaining life expectancy at payment start. For simplicity of illustration the average amount of interest is used. For example, Taxable Savings payout would have a larger amount of interest included in payments in early years, and a smaller amount of interest in later years.

19 Dialogs Skin Style - Select a different style for the User Interface by selecting a different "skin" from the drop-down list. This can also be changed by a drop-down list at the top right on the main page of the User Interface. Control some of the startup features of TOTAL Planning Suite. Change if the program start in Full Screen mode or in a smaller window, if it remembers your password, if it shows the log in screen. Remember Password: The program have your Password entered for you when you first open the program to login. Show Login Screen: Un-checking this box will skip the login screen when you first start TOTAL Planning Suite. To uncheck this option you must have the Remember Password checked. Do Not Show Close Application Confirmation: Check this box to not have a pop-up window ask if you are sure that you want to close TOTAL Planning Suite when you go to exit the program.

20 Scenario Checking the boxes "Use Life Insurance to Fund Unified Credit Trust Illustrate Joint Property for Unified Credit Trust (Required re-titling asset ownership) "Use Qualified Plans, IRA or Roth IRA to Fund Unified Credit Trust" will tell the program to use the those assets to fund the unified credit trust. CAUTION!: If you select this box to use the Qualified plans, you should carefully advise individual 1 that this option could have undesirable income tax results, the qualified plans would need to have the estate named as beneficiary resulting in acceleration of income tax payment.

21 State Taxes State Tax: Enter state tax information such as break points, if Social Security is taxed, if retirement account withdrawals are taxed, and exemptions and credits in that state. This is an index and will open up to the last state that was modified. Select Go to State Tax Internet resource to see our blog on how to enter tax rates and a link to The Tax Foundation.

22 Survivor These entries will be used for Survivor and Estate reports. Final Expenses: Includes items such as the cost of the funeral and burial arrangements, any final medical expenses, etc. Emergency Funds: Amount the survivor would like to have available as a cash reserve for emergencies or non-budgeted expenses, such as the replacement of an automobile or large appliances, medical expenses not covered by insurance, etc. This figure can be overwritten, if desired. Estate Administration Rate - First Death: Change to reflect your particular state practices or to accommodate a specific client. Estate Administration Rate - Second Death: Change to reflect state practices or for a surviving Individual 2. The default rate assumes that most or all of the assets are owned by the surviving Individual 2.

23 Settings and Defaults Thank you for taking the time to review the Settings and Defaults Guide. Questions? Ask Money Tree s Support Team Toll free support@moneytree.com