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Release Notes for Version 6.12, released Sept 8, 2004 This release adds two new states’ guidelines; the
ability to project for 5, 10, 20 or 30 years (not only 30); and makes
several improvements in the handling and reporting of pensions and
residences. Enhancements and corrections to all editions: 1. Number of years to project. Until this release, projections were always made on a
30 year time frame. The
software currently calculates 30 years, but displays only the number you
specify (5,10, 20 or 30 years). You
make this selection on the Assumptions page. 2. New state’s guidelines.
This release includes child support guidelines for Virginia.
and Texas We handle all the cases in the guidelines, including split custody
and shared custody. 3. Calculation of Separate Property.
For residences, investments and IRAs, you may now calculate the
separate property amount. This is done by subtracting value at marriage from value at
separation to get marital property, then subtracting marital property from
total equity to get separate property.
You may calculate each spouse’s separate property amount
independently. As before, you
may still figure the separate property amount (if any) by some other means
and enter it directly. 4. Report on Home Ownership. In the Residences topic, we have added a new report
called the Report on Home Ownership. This
shows, for each residence that is currently owned, how we calculate the
marital equity of each spouse. Given
the complexities – value, two mortgages, separate property of each
spouse, and equity ownership percents or amounts, we thought that a report
that takes you from Total Value to Marital Equity would be useful.
This report is located on the “more info” page for the
Residence. 5. Residence Footnotes on Marital and Separate
Property report. On
the Marital and Separate Property Report, each residence now has a footnote
that explains how we got the figure for Total Equity that we are using on
that report. 6. Clarification of mortgage entries.
For homes that have not yet been purchased, it is necessary to use
the Detail Method to enter the mortgage, and it is also necessary to
specify the property division in terms of percent, not amount.
These requirements have been clarified on the top Residence page and
the relevant “more info” pages. 7. Social security.
When a number is entered in the “some other age” field, the
method now automatically switches to “[x] some other age.” 8. Auto Update. An option was added to have the software check for updates automatically. Professional Edition Only 1. Pensions.
The entry of distribution information is now a pop-up link off the
main Pensions “more info” page. Previously, you were required to press “Continue,” which
some people may have missed. Personal Editions Only. 2. Pensions.
In the Financial Advisor and Basic Bundle editions, it is now
possible to enter a pension amount from an actuary.
(It is not possible in these editions to value pensions – you need
the Deluxe Edition for that.) 3. Pensions. In the Deluxe Edition, there is now a summary page that summarizes all the Pension entries. This should help people review and confirm their entries. | |||||||||||||||||
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