Distribution

The tab in Arken allows you to expand how your Client's estate is to be divided and distributed.

At the top of the page, you will be given a few options to Distribute the estate.

If the client is single or widowed in the client manager, you will only see the option for 'Other'

1. Estate to Spouse - Leave the entire estate to the client's spouse. You can then move onto the next level of distribution.
   
2. Estate to Spouse subject to first death bequests - This will default the Residue to go to the client's spouse, but allow you to make gifts first.
   
3. Other - This will allow you to determine how gifts and the residue are to be distributed.
   

To add bequests, please select one of the bottom two options. You should then see an option to 'Make gifts before dealing with residue?', select 'Yes' to see your gift options.

Click the plus icons to add the specified gift. Gifts can be left to Individuals, a Named Group, Percentage shares or to Trustee. If you select To Trustees, you will be greeted with a list of available trusts. You will be able to add:

1. Money Gifts - Leave cash legacies or gift the NRB. If you select to leave to Trustees, you will see an option to leave to an NRB Discretionary trust.
   
2. Gifts of Specific Property - This gift will have quite a few options to cover any of the clients property. You will see a dropdown with multiple options which includes selections like Personal Effects, Buildings, Investments etc. You can also select the List button next to the description to see some suggested entries from Arken.
   
3. Life Interest or Rights of Occupation in Property - This section will allow you to add a Life Interest Trust or a Rights of Occupation for a property owned by the client.
   
4. Release of Obligations - Here your client can clear any debts or liabilities owed by specific people or a company.
   
5. Direction or Declarations - This is a freetype box which will allow your client to make any declarations or directions.
   
6. Residue - If you have select 'Other' at the top of the page, you will be able choose how the client's residue is distributed. You can add substitue provisions here, or continue to the next level of distribution.
   

Some of these options can be expanded in the Important Matters tab, please look here for business gifts and extention of IHT.

If the gift of Residue were to fail, you can draft substitute provisions in the next level of distribution. The options in this section will be very similar to the first level, you can continue to add as many levels of distribution as your client needs.

If the previous level of residue has been level to a trust or charity, then you will not have another level of distribution. If left completely to a trust, this replaced with a default provisions tab.

• Related Articles

• Important Matters

  The Important Matters tab will allow you to expand on certain options of the quesionnaire. Each selection will behave differentlly, you may notice some new questions at the bottom of the page or a new tab on the left. It consists of the following ...

• Tabs in Arken

  This article will briefly go through the tabs to the left of Arken. On entering a questionnaire, you should see a list of tabs on the left. Document Details - This tab displays information about the document, including the clients name, address and ...