We are delighted that the Instant Executry module is producing benefits for members of the Instant Office community.
In July 2010 a group of experienced Executry Practitioners agreed to partner with us and to pool their collective knowledge with the aim of creating a standalone Executry module as part of Instant Office.
We contributed our IT skills, our Executry Partners contributed their expertise, experience and enthusiasm. Instant Executry is the result. Being Cloud based, you can access it from anywhere, anytime – a particular boon for working Mums and Dads.
Designed by Executry Practitioners for Executry Practitioners
The feedback we have received on Instant Executry from our Partners is verging on the ecstatic!
Hopefully, in the near future, you will join us and contribute your experience to enhance Instant Executry so that you, and our other members, can continue to improve the Professional service you provide to your clients.
The collaborative approach we have with our members is what guarantees Instant Executry, and Instant Office of which it forms part, will continue to evolve to meet the needs of you, our members, and the ever changing market we work in.
From the outset our Instant Executry Partners identified the People, the Processes and Professionalism as the 3 essential elements in their approach to every executry. They called them the 3 Ps.
All this and more for minimum cost, with a small upfront investment that you will recover from the efficiency savings on your first 3 executries. At last an affordable solution for Executry Practitioners.
People, Processes & Professionalism (3 Ps)
Clarity of communication, setting and exceeding expectations and attention to detail were amongst the key service aspirations of our Partners. The family who have entrusted you with the administration of their loved one’s estate will be grieving. They will, understandably, expect you to deal speedily and professionally with the winding up of their loved one’s estate and to keep them informed of progress.
Our Partners’ vision was to have The People at the heart of every executry. The People are the Deceased, Executors, Beneficiaries, Asset Holders, Debt Holders and the institutions you have to interact with (the Courts, HMRC, DWP etc).
They wanted a Single data entry system where they would maintain the essential data about all of the People involved in the executry estate. They would then use this data to drive a number of processes.
A key requirement that our Partners identified was that Instant Executry should streamline existing work processes. The following are some of the areas that they highlighted as important:
- They wanted fingertip access to an extensive styles library of letters and deeds.
Our Partners contributed their styles and we organised these into a single library that all members have access to. Simply by editing a style in the library a member creates their own private copy of that style with their own preferred form of wording. One of the benefits of joining the Instant Executry Community is that you benefit from the styles library that has been built up by existing members. As part of the Setup and Training for Instant Executry your “Go To Team” will create your own private versions of some/all of these styles by tailoring them to include your own preferred form of wording. We also hope you will enrich the styles library by adding your own styles which will benefit both existing and new members.
- The ability to complete the HMRC and Court forms from the Single data system was seen as a major boon. The C1 and C2, C5, IHT400, Stock Transfer, CREST Transfer, R185, R185(EI), R185(TI) and R27 can all be, more or less, completed from the information you have captured in the Single data entry system.
- A frequently requested report was one that would give a snapshot of the current position in obtaining date of death values for assets pre-Confirmation and in-ingathering assets after Confirmation has been obtained. The Asset Grid fulfils this need and may also address another that was high on everyone’s list, namely, keeping Executors and residuary beneficiaries updated with progress.
- The Process surrounding the creation of the Final Account and the paying out to beneficiaries was on everyone’s wish list for a makeover. It is no wonder!
Using traditional methods the figures that are arrived at in the Final Account have to be manually entered into 5 or 6 separate letters/documents/forms relating to each of the beneficiaries. A single mistake in the Final Account or in any of the letters/deeds/forms can create havoc and hours, if not days, of extra work. Using Instant Executry the Final Account is produced in seconds from the data held in the Single data system.
- Providing an Outstanding Professional service in an area as complex as Executry Administration does not come cheap. Whilst all of our Partners felt the level of fees charged by the Banks is excessive we argued that the level of service and responsiveness our Partners aspired to deliver deserved a reasonable fee. Happily, we prevailed and we have provided the Tools in Instant Executry that will enable our members to properly resource and expand their executry practice.
- If you use the Time Management module that is included with Instant Executry you will find that you increase your fee income by 10%, simply by more accurately capturing the time you spend working on the file. Not only that, but by making it easy for you to note what you have done your file will provide better protection if you have to deal with a service or negligence claim.
- Two major benefits of everyone working in the same system and using the same processes are (a) you can safely delegate work, which cuts your cost of providing the service and (b) it makes it easier to carry out effective in-house training. On-going training is the best way to minimise the risk of service and negligence claims. The tools available with Instant Executry make it quick and easy to monitor that work is being done properly and timeously.