Proformex has several features which help Users manage Trust owned policies. Important Trust information and dates are available with the click of a button. Read on to learn more!
Proformex has an entire section for Trusts available from the Business option in the main navigation bar.
Don't see Trusts in your navigation bar?
The Trust module is only available with the purchase of the Professional platform. If you don't see the Trusts option, then you have a Premium or Basic level platform. If you are interested in the Trust module, please reach out to your Customer Success Manager to discuss if the Professional platform would work better for you.
There are 5 sections of the Trust module. The most popular is 'Manage' Trust option. Let's discuss that one first.
1. Selecting Manage Trusts will bring up a table of all the Trusts in your platform.
From there you can use the > option to expand any Trust so you can see all the policies and contracts within that Trust and quickly navigate to their details page..
From the Manage Trusts page, use the Action button 
on the Trust to take you to Trust Information or Crummey Management.
Let's start with Trust Information.
The Trust Information page is very similar to the Policy Details page. It stores lots of important Trust info including:
- Trust Date, Trust EIN #, and Type of Trust
- Names and contact info for Trust Grantors, Trustees, and Beneficiaries
- Trust documents
- Notes related to the Trust
Notifications can be tied to important Trust events. If Grantors are gifting funds to pay premiums for Trust owned policies, then you can set a Premium Gift Reminder Notification to remind you- as a User of Proformex - of a Trust Gift due. If you want to be reminded to send Crummey Notices to Trust beneficiaries, then you can set a Crummey Letter Reminder Notification for that too! These notifications options are available from the 'Notification Preferences' option of your User settings. Currently, Proformex only sends Notifications to Users of Proformex- we cannot send the Notifications directly to Trust Grantors or Trustees at this time.
Crummey Management is also available from Manage Trusts.
If the Trust beneficiaries have an email address entered, you can create and email Crummey Notices directly from the platform from the Crummey Management section. You can also track checks paid from and for the Trust here.
2. Grantors is available as a section of Trusts.
Use this selection to be brought to a table of all the Grantors in your platform. From there you can drill down into any policy associated with each Grantor.
3. Premium Gifts helps you anticipate and plan for the Trusts.
This selection will bring you to a table of Premium Gifts due by Month. This will help keep track of the various policies which need to have premiums paid from the Premium Gift made to the Trust. Some Trusts may only gift premium once or twice a year, but the policies in the Trust may have more frequent premium due dates. This table will help you drill down into the policies owned by the Trust in relation to the date the Trust Gift is expected.
4. Trust Beneficiaries helps you quickly find Trust Beneficiaries.
This selection will bring you to a table of all the Trust Beneficiaries in your platform. From there you can drill down into any policy associated with that beneficiary.
5. Trustees is a useful section of Trusts
Some firms work closely with professional trustees who manage multiple Trusts. This section can be very helpful to identify all the Trusts associated with a particular Trustee. This selection will bring you to a table with all the trustees listed and allow you to drill down into any policy associated with the Trustee.
Together, all these options from the Trust module help you keep tabs on important Trust contacts, dates, and activities. If you have an idea which you think could improve the Trust section- let us know! We are always open to ways we can help you better manage and monitor the policies in your care.