If your wealth items have multiple owners, you can allocate ownership among them. For instance, you might designate your spouse or partner as a 50% owner of the household car.
Additionally, you can assign ownership of wealth items to your Entities to ensure everything is included in your Net Worth. For example, if you have a Self Managed Super Fund (SMSF), you can establish it as an Entity within your Team, integrating it into your overall Wealth picture.
Once you have allocated ownership of your wealth items, you can gain a comprehensive understanding of both your family wealth and your individual net wealth with the click of a button.
Allocating ownership to one or more individuals helps both your family and professional team members get a clear view of your collective and personal wealth.
To set or adjust ownership of Wealth items:
1. From your Dashboard, within the Net Worth area click 'View all'.
2. From the Net worth area, change the 'Category View' filter to 'List View'.
3. The List View filter changes the way the Wealth items are displayed, and you can now see the current ownership split for your items. Locate and click on the item you want to update.
4. The wealth item opens. By default the 'Details' of the Wealth item are shown. Click 'Edit'.
5. Click the 'Edit' button within the 'Owners' field.
6. A pop-up opens. Click 'Add another owner' and choose your existing Team member/s from the drop-down list. Ensure you set the correct % of ownership for each (making sure the total equals 100%).
When done, click 'Save'.
7. Your changes are saved and reflected within the Wealth item's 'Details' and in the Net worth List View.