Junxure Desktop
            Knowledge Base Junxure Desktop Support Best Practices

            Handling Divorced Clients

            There are many things that need to happen when you have clients who become divorced. From re-registering accounts and transferring assets to continuing the relationship with one or both spouses and family members, so it is important that your systems reflect these changes. The below are tips and recommendations related to Junxure functionality - you may have other items outside of Junxure that you'll need to take into consideration.

            Tip:
            Create an action sequence (or two) that delegates and tracks all actions that need to be completed when clients go through a divorce.

            Divorce: Both Parties Remain Clients

            During Divorce

            • Keep joint contact record until accounts/assets have been adjusted accordingly
            • Add alert to contact record with instructions in important info (who can you talk to? Authorized to talk to attorney?)
            • Continue to log information for couple about their accounts (together) in this record until divorce is final and accounts are adjusted.
            • Create 2 new contact records, one for each individual client – filling in all necessary information for each record according to contact entry protocol. The only information that should be entered in here is anything related to their future single relationship (i.e. opening new accounts, wills, scheduled meetings, etc.)

            After Divorce

            • For joint contact record, change classification from Client to Divorced Record
            • Associate the single records via the associates tab with associate type of "Ex-Spouse" Associate old joint record to each single contact record with associate type of “old record”
            • Note divorce date in important info tab on all contact records (can include ex-spouse info there too – but strongly recommend associates tab association too)
            • Update marital status to divorced or single
            • Create new logon for ClientView Live for each new record and disable access from old record (if needed)

            Divorce: Only One Party Remains a Client

            During Divorce

            • Keep joint contact record until accounts/assets have been adjusted accordingly
            • Add alert to contact record with instructions in important info (who can you talk to? Authorized to talk to attorney?)
            • Continue to log information for couple (together) in this record until divorce is final

            After Divorce

            • Note divorce date in important info tab (can include ex-spouse info there too – but recommend associates tab association too)
            • Copy existing record to create a new record: in new record change client name to the spouse that is leaving, (and all other applicable fields are adjusted as necessary)
              • Add classification of ex-client
              • Add termination date
              • Add termination reason as user field on User Field Tab
              • DO NOT copy Account/Asset information
              • Review Document Tab folders and contents to ensure they are re-named appropriately
            • Make sure existing contact record reflects client name that is staying. (and all other applicable information is adjusted as necessary) associate these records via the associates tab with associate type of “Ex-Spouse”
              • Adjust contract dates, questionnaires, wealth code as necessary
              • Delete wedding anniversary, adjust preferred mailing name and dear field
              • Adjust email addresses and phone # (remove additional emails, spouse emails, etc)
              • Adjust favorites and interests
              • Update associated relationships
            • Change marital status on both records to divorced or single
            • Remove ClientView Live access for joint account. Create new logons for ClientView Live for remaining client (if needed).
            Updated: 22 Aug 2018 01:07 AM
            Helpful?  
            Help us to make this article better
            0 0