This workflow template illustrates the planning and execution of estate beneficiary distributions (for the deceased), including initial asset summarization, asset appraisal, beneficiary asset distribution scheduling and tax preparation. Purchase and download this template in PDF and Visio (VSD) formats. You can customize it to fit your own organization, or simply use it to better understand Estate Administration processes.
Related KPIs : Fixed Assets Accounting Expense per Employee, Cycle Time: Asset Transfer, Asset Movement Error Rate
What is Estate Administration?
The Estate Administration process is triggered when a customer who has a trust account with the financial institution (bank, investment manager, etc.) passes away. Acting as the executor of the deceased's estate, the financial institution then summarizes all of the assets included in the estate to prepare for distribution to the listed beneficiaries. The bank then drafts an asset distribution schedule that is sent to all of the beneficiaries. Once the assets have been distributed, the financial institution collects their cut for managing the estate, and attorneys prepare the appropriate documentation to close the account.
Download a Sample Estate Administration
Frequently Asked Questions
Q: How do you create your Workflow Templates?
A: From real-world consulting engagements with Fortune 500 leaders. We’ve spent 25 years analyzing operations at hundreds of leading companies worldwide, documenting thousands of business processes at precise levels of detail. We’ve anonymized this data—drawn from millions of dollars’ worth of consulting assignments—and have made it available to you in easy-to-use templates at affordable OpsDog prices.
Q: What can a Workflow Template do for me?
A: Boost productivity, efficiency, and service levels! Broken business processes—marked by manual workarounds, downtime, and errors—are all too common. Many businesses write off this waste as “the cost of doing business.” But you know better than that! Simply select the OpsDog Workflow Template that best fits your situation, tweak it to your liking, and then use it to train employees, identify process improvements, inform an IT project, or re-design a workflow. That’s a lot of power in your hands, cheap!
Q: What’s in the box when I buy one?
A: Three handy versions, all in one zipped file. It’s yours to download immediately upon purchase, and includes your chosen Workflow Template in PDF format, plus Microsoft PowerPoint (which you can edit), and Visio (which you can also edit).
Q: Your download-able templates look great. But I need something custom. Can you help?
A: Heck yes. Our analysts would be happy to provide you with a more detailed Workflow Template than what we offer for instant download. We can also develop an entirely new, customized Workflow Template to fit your business; we specialize in this stuff and would love to help you! Simply email us (email@example.com) or call us at 866.650.2888 and one of our friendly professionals will be happy to answer all your questions.