I'm using a quicken account for an Irrevocable Life Insurance Trust
edited May 2022 in Registers & Transactions (Windows)
The trust has life insurance and other investments. Trust pays annual tax but then Trustee makes annual beneficiary distributions, how should those be shown in a net worth statement?
Well, for starters, I'm not sure how you'd hold life insurance and investments in the same Q account.And, since it's irrevocable, I'd suggest that this be done in a separate Q data file ... since you don't really own it anymore. At least not in the sense that you own your car or owe ON your credit cards.Q user since DOS version 5
Now running Quicken Windows Subscription, Home & Business
Retired "Certified Information Systems Auditor" & Bank Audit VP0
Showing the life insurance as cash value only.0
so I thought maybe set up and expense category for each beneficiary, mostly just to have a paper trail.0
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