I'm using a quicken account for an Irrevocable Life Insurance Trust

lau Member
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?


  • NotACPA
    NotACPA SuperUser ✭✭✭✭✭
    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 VP
  • lau
    lau Member
    Showing the life insurance as cash value only.
  • lau
    lau Member
    so I thought maybe set up and expense category for each beneficiary, mostly just to have a paper trail.
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