Lifetime Planner - IRA Account Owner Assignment Changes between Account Create and LTP
There have been some bug fixes to LTP in the most recent QW R12.15 release. Thanks!
To test out some of these changes, I created a new data file with several new test accounts. Among those new accounts I created an IRA account (not tied to a online FI) for my spouse.
1. During the later stages of creating a new IRA account, there is a dialog that asks "who owns this account". I assign this account to souse. See Image 1.
2. Going into LTP to ensure this new account is included in the "plan", I see that the account ownership was NOT assigned to my spouse, as selected during account creation. See Image 2.
3. In LTP, I can (again) assign this account to my spouse by clicking on "details" button. See Image 3.
Now, I would say if I assign account ownership during account creation, then that selection should convey to LTP, or anywhere else in Quicken that ownership assignments are important.
Its important because, if not caught and corrected, as my spouse and I would take RMDs at the same time and since we are of different ages, that would be incorrect.
I noted too, that when creating a new 401K account for my spouse, the account creation process DOES NOT ask for account owner and requires you to assign this for the first time in LTP. This could affect rules pertaining to yearly contributions, if not caught by the user.
Not necessarily a huge "bug" but if Quicken asks for that information during account create process Quicken should pass that information to other parts of Quicken that would use it, as opposed asking the user to reenter it.
Perhaps a first step is to correct the IRA ownership issue, then move on to asking for this information on account creation, where the account ownership needs to be identified and shared elsewhere in Quicken. Avoids end-user errors, frustration and everything that follows....
Make sense?
Scott
2018 QW HBR R12.15
IMAGE 1 - Account Create Ownership Assigned

IMAGE 2 - LTP Ownership Changes

IMAGE 3 - LTP Ownership changed a second time in LTP

To test out some of these changes, I created a new data file with several new test accounts. Among those new accounts I created an IRA account (not tied to a online FI) for my spouse.
1. During the later stages of creating a new IRA account, there is a dialog that asks "who owns this account". I assign this account to souse. See Image 1.
2. Going into LTP to ensure this new account is included in the "plan", I see that the account ownership was NOT assigned to my spouse, as selected during account creation. See Image 2.
3. In LTP, I can (again) assign this account to my spouse by clicking on "details" button. See Image 3.
Now, I would say if I assign account ownership during account creation, then that selection should convey to LTP, or anywhere else in Quicken that ownership assignments are important.
Its important because, if not caught and corrected, as my spouse and I would take RMDs at the same time and since we are of different ages, that would be incorrect.
I noted too, that when creating a new 401K account for my spouse, the account creation process DOES NOT ask for account owner and requires you to assign this for the first time in LTP. This could affect rules pertaining to yearly contributions, if not caught by the user.
Not necessarily a huge "bug" but if Quicken asks for that information during account create process Quicken should pass that information to other parts of Quicken that would use it, as opposed asking the user to reenter it.
Perhaps a first step is to correct the IRA ownership issue, then move on to asking for this information on account creation, where the account ownership needs to be identified and shared elsewhere in Quicken. Avoids end-user errors, frustration and everything that follows....
Make sense?
Scott
2018 QW HBR R12.15
IMAGE 1 - Account Create Ownership Assigned

IMAGE 2 - LTP Ownership Changes

IMAGE 3 - LTP Ownership changed a second time in LTP

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Scott
2018 QW HBR R12.15
"I noted too, that when creating a new 401K account for my spouse, the account creation process DOES NOT ask for account owner and requires you to assign this for the first time in LTP".
I can't explain what you experienced, but:
I've tested with Q2014 thru Q2018/9 (R14.27), and every one asks the user to specify whose 401k account is being created during the new account creation process (the choices are "My Account" and "My Spouse's Account"). But the question does not occur at the same point in the process as it does for IRA/Keogh accounts.
See attached.
Questions? Check out the Quicken Windows FAQ list