FamilyProperty - Modelling Proposals

This article will show you how to: 

Add and amend Assets & Liabilities

You can add Assets and Liabilities to your working balance sheet in the following way: 

1. Click on the 'Add' button in the top right hand corner and select an Asset, Liability or Superannuation. 

2.  You will then be able to enter details applicable to the item, including the type of asset, description, value, and proposed action. For real estate, you can go to the Details tab and add details of the registered owners, the property address and add a Folio identifier.

 Model a proposal based on a target net asset outcome 

To model a settlement proposal based on a target net asset outcome (for example, for your client to retain $700,000.00 of the asset pool), follow the steps below. 

1. From your working balance sheet, go to Balance sheets > Apply calculations

2.   Select "Yes"  next to "Define a target net asset outcome" then enter the target amount. Select a particular asset to adjust, if applicable. 

3.  Select "Update." Your working balance sheet will then be adjusted automatically. 

Model a settlement proposal based on a target percentage

To model a settlement proposal based on a target percentage outcome (for example, for your client to retain 65% of the asset pool), follow the steps below. 

1. From your working balance sheet, go to Balance sheets > Apply calculations

2. Select "Yes"  next to "Define a target percentage outcome" then enter the target percentage for both parties. Select a particular asset to adjust, if applicable, and whether or not to exclude superannuation.  

3.  Select "Update." Your working balance sheet will then be adjusted automatically. 

Compare your balance sheet with the Other Side's balance sheet 

1. Once you have the assets and liabilities in your client’s working balance sheet, go to  and select . Click OK at the prompt. 

2.  Then switch to the Other Side’s balance sheet by going back to Balance sheets: 

3. Make any amendments to show the other side's assertions as to the assets and liabilities, values, and proposals.

4. Go to Balance sheets and click on "compare balance sheets."

5. You will then be able to view a snapshot of the areas of agreement and disagreement when comparing the two balance sheets. 

Save different versions of your balance sheet

1. From your working balance sheet, go to Balance Sheets > Manage versions

2.  Select "Save as a version", give a title to the version (Eg. 65/35 Proposal), then select Save

3.  You will be able to see which version you are currently working from based on the title at the top of the working balance sheet: 

Was this article helpful?
0 out of 0 found this helpful

Articles in this section

See more