Managing trusts in Entities

You can add and manage information about trusts in Diligent Entities. For each trust, you can view and edit details on a dedicated page, assign appointments, record transactions, and create visualizations of its group structure. Entities records and stores transactions history for each trust, creating a reliable audit trail.

Search and navigation

You can search and display trusts using the All Searches tab.

Search for trusts

To search for a trust, complete the following steps.

1. In the All Searches tab, select Trusts.
2. Select one of the available tabs to specify the type of search you want to run.
3. Enter the search criteria and select the icon to run the search.

View and edit trust information

1. From the list in All Searches > Trusts, select the trust name.

   The Trust Details page opens.

2. You can edit trust information in one of the following ways:
   • To make quick edits to correct trust information displayed in Entities, select Edit, make your changes, and select Save.
   • To formally record changes to the trust, select an option from the Wizards menu.

Managing trustees

You can appoint entities to trusts as trustees. On the Appointments page for the trust, you can view the current appointments, create new ones, or manage existing appointments.

Appoint an entity to a trust

You have several ways of appointing entities to a trust, such as the Appoint option or the Wizards menu.

1. From the list in All Searches > Trusts, select the trust name.
2. Open the Appointments tab.
3. Select Appoint.

   The Appoint Wizard window opens.

4. Search for the entity you want to appoint and provide appointment details. Select Next.
5. As you progress through the wizard, specify further details, for example, group appointments by type, set reminders, select approval workflow, and specify how to action the event.
6. On the final page of the wizard, select Finish.

   The list of appointments is available on the Current Appointments page. You can view and edit appointments by selecting them from the list.

For more information about managing appointments, see Appointments.

Trust ownership

In the Ownership tab, you can view and manage ownership information, for example, assign beneficiaries and record unit transactions.

Add trust beneficiaries

You can add trust beneficiaries using the Corporate Relationship wizard.

1. From the list in All Searches > Trusts, select the trust name.
2. Open the Ownership tab.
3. On the Beneficiaries page, select Wizards > Corporate Relationship Wizard.
4. In the Corporate Structure section, select the User Defined Group Structure option and select Beneficiaries from the list.
5. In the Corporate Relationship section, select Beneficiary > Trust from the list.
6. In the Select Left Person section, specify the beneficiary.
7. In the Select Right Person section, specify the trust.
8. In the Control section, define the type of control and amount the beneficiary is entitled to.
9. On the following pages of the wizard, specify how to action the event.
10. On the final page of the wizard, select Finish.

Manage beneficiaries

On the Beneficiaries page, you can view trust beneficiaries, including the type of relationship they have to the trustee and their ownership percentage.

1. From the list in All Searches > Trusts, select the trust name.
2. Open the Ownership tab

   The Beneficiaries page lists trust beneficiaries. By default, the table displays only the current relationships. To include past relationships in the table, select the Show past relationships checkbox.

3. To delete an existing beneficiary, select the icon next to the beneficiary and select Delete.

   To edit it, from the menu, select Open and move to the next step.

4. Progress through the Corporate Relationship wizard to make the necessary changes to the beneficiary’s details.

   For more information about the available options, see Create Corporate Relationships.

Unit classes

You can create, view, edit and cancel unit classes on the Unit Classes page under Ownership inside the trust record.

By default, capital and units are both listed on the page. Use the Show and For fields to list the capital or the units only. Use the Show cancelled classes option to display the canceled unit classes in the list.

To create a unit class, use the options at the top.

1. From the list in All Searches > Trusts, select the trust name.
2. Open the Ownership tab and select Unit Classes.
3. Select New.

   The New Unit Class Wizard window opens.

4. In the Details section, select a class name, enter the class code if applicable and select the currency for the unit class.
5. In the Total Units section, enter the total number of issued units if applicable.
6. In the Capital section, provide the issue price.
7. If the units are not paid in full, complete the Partly Paid Units section.

   If you select the Partly Paid Units option, additional fields appear so that you can provide more details.

8. In the Event Date section, provide the date the units were issued. Select Next.
9. On the Action page of the wizard, select whether you want to save the event as pending or update all records immediately. Select Next.
10. Select Finish.

Allot units to a unitholder

After you create all the required unit classes, you can allot units to unitholders.

1. From the list in All Searches > Trusts, select the trust name.
2. Open the Ownership tab and select Unitholders.
3. Select Allot.

   The Allot Units Wizard window opens.

4. In the Unit Class section, select the units class.
5. In the Unitholder section, select the unitholder.
6. In the Allotment section, enter the event date and the number of units allotted to the unitholder. Select Next.
7. On the Action page of the wizard, select whether you want to save the event as pending or update all records immediately. Select Next.
8. Select Finish.

Transfer units

You can transfer units from one unitholder to another in the Ownership section of the trust record. You can only transfer units that have been allotted to unitholders.

1. From the list in All Searches > Trusts, select the trust name.
2. Open the Ownership tab and select Unitholders.
3. Select the icon next to the unitholder name you want to transfer the units from and select Unit Transfer.

   The Transfer Units Wizard window opens.

4. In the Transfer section, enter the date and number of units.
5. In the Transferee section, select the unitholder to transfer the units to.
6. In the Cancel Certificates section, select the unit certificates to be canceled as a result of the transfer.

   By default, all existing certificates in the relevant unit class are canceled, leaving the unitholder with a balancing certificate for any remaining units held.

7. In the Consideration section, enter the amount paid per unit and the total paid if the consideration paid differs from the nominal value.
8. On the Action page of the wizard, select whether you want to save the event as pending or update all records immediately. Select Next.
9. Select Finish.

Record unit disposal

Use the Unit Disposal wizard when the trust gains back units from the unitholder or the other way around.

You can only dispose of units that have been allotted to unitholders.

1. From the list in All Searches > Trusts, select the trust name.
2. Open the Ownership tab and select Unitholders.
3. Select the icon next to the unitholder name you want to transfer the units from and select Unit Disposal.

   The Unit Disposal Wizard window opens.

4. In the Type of Disposal section, select the disposal type.
5. Review the information in the Unit Class section and update it if required.
6. In the Existing Unitholder section, select the unitholder to dispose of the shares from.
7. In the Disposal section, enter the date and the number of units.
8. In the Cancel Certificates section, select the unit certificates to be canceled as a result of the transfer.

   By default, all existing certificates in the relevant unit class are canceled, leaving the unitholder with a balancing certificate for any remaining units held.

9. In the Consideration section, enter the amount paid per unit and the total paid if the consideration paid differs from the nominal value.
10. On the Action page of the wizard, select whether you want to save the event as pending or update all records immediately. Select Next.
11. Select Finish.

Group structure and visualization

You can display structure details and visualize relationships for each trust. On the Group page, you can search for the relevant information.

For more information on how to run group structures, see Group structure.

When you select Group Visualization, you’re taken to a new tab with the visualized group structure, where you can filter, format, annotate, and export the chart as needed.

For more information about visualizing group structures, see Group Structure Visualization.