Quicken Access for Trust

John Kostenbader

Maybe somebody has already solved this but I'm faced with being part of a trust for my recently deceased mother. The trust is in my name and my brother's name. In an ideal situation both my brother and myself have access to an online checking account to provide for expenses related to the trust. Quicken seems mostly to be desktop related and doesn't really "share" data conveniently. Simplify seems to not support multiple user as well. Are there any options in the Quicken world to manage this situation? It would also seem like an ideal situation for a husband/wife to share home finance data. There's the desktop option but it would be more convent to be online.

Quicken Jared

John Kostenbader said:

Maybe somebody has already solved this but I'm faced with being part of a trust for my recently deceased mother. The trust is in my name and my brother's name. In an ideal situation both my brother and myself have access to an online checking account to provide for expenses related to the trust. Quicken seems mostly to be desktop related and doesn't really "share" data conveniently. Simplify seems to not support multiple user as well. Are there any options in the Quicken world to manage this situation? It would also seem like an ideal situation for a husband/wife to share home finance data. There's the desktop option but it would be more convent to be online.

Hello @John Kostenbader,   

We are sorry for your loss, and about this issue with sharing information via the Web application. We thank you for speaking with us about this here on the Quicken Community. 

In order to provide better advice, can you first tell us a little more about the particular issues you are running into when using the Web Application? Are you running into issues with credentials, or are you having problem accessing the information from multiple devices?

I look forward to your answers. 

Thank you,

Quicken Jared 

MontanaKarl

@John Kostenbader - 

Sorry to hear about the loss of your Mom, John.  I know from experience that it can be an overwhelming time, and sorting everything out can feel like a bit much at times.

I see from your older posts that you've been using Quicken for some years now - seems like you've used both Mac and Windows desktop products.  If you haven't used the web product, the data is still 'really' hosted on someone's desktop - presumably yours.  By choosing to sync certain or all accounts to the cloud, your brother - or you when away from your computer - can review and enter transactions and have them synced back to the desktop product the next time you open your file there.  The web interface to the cloud data does not give all of the features of QWin or QMac, but should be enough for the needs you describe.  Keep backups of your desktop file no matter what... just in case any sync corruption happens.

It sounds like your brother and you are co-trustees of this trust and possibly also the trust beneficiaries.  Do note that such a trust typically requires a new/unique EIN from the IRS and would have to file an annual trust tax return and issue K-1's to the beneficiaries.  If you have not obtained legal and accounting advice on all of that, it would be wise to do so sooner than later.  I've dealt with this several times myself, but am neither an attorney nor a CPA.