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Recording Date of Death and Market Value

Questions about updating prices or transactions in Fund Manager

Postby ricbertsch » Fri Jun 16, 2023 7:58 am

I need some clarification on an Deceased Account - Transferred to an Estate Account and then to the eventual Beneficiary's Account which is already existing. Example Joe Doe Dies - Funds go into a Estate of Joe Doe account and eventually once the estate is probated into Mary Doe's existing Account.
Do I record the transactions as follows:
Re: Tax Cost Basis:
Date Acquired = Date of Death or Actual Date of the Transfer from the Estate Account?
Value =Joe Doe's Date of Death Value
Re: Transferred In:
Market Value = Value on Actual Date Transferred from the Estate Account to Mary Doe
OOP Cost Value = Value on Actual Date Transferred from the Estate Account to Mary Doe

Thanks!
Richard G. Bertsch CFP(tm)
ricbertsch
 
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Postby Mark » Mon Jun 19, 2023 9:35 am

Hi ricbertsch,

There are a couple of ways to move investments between accounts. It really depends on if you want to transfer the full history, or just as of a certain date. Here are the 2 methods:

1) Simply drag/drop the investments from the old to the new account. This is the easiest method, and transfers the whole history.

2) Use the "Transfer Between" wizard. You have to run this for each investment. Right mouse click on a source investment and choose "Investment Data / Transfer Between...". This method makes it clear that these investments were in 1 account up to a certain date, and then moved to another account. It is recorded with multiple transfer in transactions, 1 per open lot, and a single transfer out.
Thanks,
Mark
Fund Manager - Portfolio Management Software
Mark
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Postby raysk » Fri Mar 29, 2024 10:08 am

I used the transfer between method. the shares were moved, but nothing shows up in graphs.
What did I do wrong?
raysk
 
Posts: 27
Joined: Sun Mar 16, 2008 6:27 am

Postby Mark » Fri Mar 29, 2024 10:14 am

Hi raysk,

Do you see the new investment in a graph window, but it is just flat? If you transfer to a new investment using the "Transfer Between" wizard, it moves the shares as of that date. You don't have history (transaction or pricing) before this, unless you retrieve historical prices, but the value will be 0 unless you had other shares before.
Thanks,
Mark
Fund Manager - Portfolio Management Software
Mark
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Location: Chandler, AZ

Postby raysk » Sat Mar 30, 2024 6:47 am

Thanks Mark. I'll have to just get the transaction info from Fidelity.
raysk
 
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