Timing - Scheduling the period of ownership, future purchase, and sale of properties and assets

The Time Panel

Events, or stages are used to specify when property ownership begins and when a property will eventually be liquidated/sold.

For properties and assets that are owned at the beginning of the plan, select the Start event (green dot) to indicate current ownership. Also select an end event (red dot) to indicate when a property will be sold, as illustrated below:

Property_Sale1.jpg

To schedule the future purchase of a property or asset, the only difference is that the green dot should, instead, be positioned next to a future 'event', in the year the purchase is intended to occur. One will also select an end event (red dot) - this could be when the property is subsequently sold, or it will be at the mortality event of the last surviving owner. Note that, if a property is co-owned, and you intend to show that it will be liquidated when the latter of the two owners dies, select as the property’s end event (red dot) the final event in the timeline, "Mortality", as opposed to one of the two owner-specific Mortality events – e.g. Mortality (John). This "Mortality" event indicates for liquidation to occur at the end of the timeline, irrespective of which individual is, in fact, assumed to die last. If, by contrast, you were to select a person-specific mortality event, the property could wind-up being liquidated prematurely, in the event that you were (for example) to create an early mortality 'what if' scenario, or to run the Life Insurance Need analyser.

Alternative Settings for Property Liquidation

Event based scheduling is usually preferable because events provide a visual cue when viewing and presenting the Let’s See charts.

Although we encourage you to use events to schedule the future liquidation of properties and assets, other options, such as Owner Age or “When Needed”, are available to schedule the future liquidation of the property. These options are found on the Property / Assets screen’s Advanced Settings > Liquidation panel. Read more>>

If you find that a property is not being liquidated at the selected end event, check the Liquidation panel for an alternative liquidation setting.