Help in creating a trust
This article will guide you through the start-to-finish process of manually setting up a new trust profile in Connectworks
Navigate to your firm's Clients tab.
In Clients, All select the "I would like to..." menu at the top right of the page and then "Add a new entity". In Clients, Trusts the option is "Add a Trust"
1. Search or Create
If you have XPM connected to Connectworks, you can import the trust using Import from another system
Manually create a new party
The following information is required to manually create a trust
Type of party
Type of Trust
Family, Estate, Trading, Charitable, Investment, Farm, Business value protection, Living, Property, Testamentary, Standby, Non-active, Foreign, Employee Share scheme or Other
In the Management section, you can do the following
Set Partner, Manager or Business Unit
Annual review date
Select the appropriate plan, depending on the entity that is added are the plans available. If unsure please see our article on Trust Subscription Plans & Pricing.
To activate the plan immediately select the tick box Apply plan immediately (no loading grace).
Select +Add or +Add and edit* to complete adding the Trust into Connectworks.
Entering the settlement date (the date the trust was founded) during this step will save a lot of manual data entry.
The settlement date will auto-complete the appointment date of all trustees, beneficiaries etc. In most cases, this is correct and means only later appointed trustees/beneficiaries will require updating. If the settlement date is left blank it will default to the date of set up, and all people associated with the trust will require manual updating.
It is good practice to change the Lifecycle Setup Status located in Client Admin to Preparing. This creates a flag in the overall client list, allowing other staff to easily filter for and identify trusts which may be incomplete. Later you can update this status to:
Review for a manager to check
Attention or Alert for missing information
Set up complete when you are satisfied all information has been added to the profile. This will remove the flag from the client's list.
After creating the profile you will be directed back to your client's gallery, where the trust will be displayed. Click on the trust name to access its workspace and create profiles for the people associated with the trust.
You can edit key details about the trust at any time by selecting “Edit Trust Profile” in the top right.