The pro forma net worth accounts for the total assets, the total expected life insurance benefits, and the total liabilities identified in the digital vault. Add more to your digital vault to improve the completeness and accuracy of the Estate net worth in Legacy Logix. You can also securely link financial accounts to automatically get updated values for many assets and liabilities.

Exclude specific line items from the net worth by unchecking them on the pro forma.

Excluding specific line items is a powerful tool to explore scenarios. For example, explore how paying off a liability or reducing your life insurance might affect the Estate value for your successors without modifying any of the data in your digital vault.

The Estate value calculated in the pro forma is used as a starting point in settlement insights. Tother, an Estate holder can explore these insights to understand roughly how many modifications to both the Estate and trust will ultimately pan out for their successors.

Pro forma is Latin for "a matter of form." It's a term commonly used in accounting to describe a simplified document that attempts to describe the practical situation without unnecessary details. For example, a detailed balance sheet can be many pages long, but a pro forma version can consolidate everything into a page or two to focus on the items and categories that matter most to the organization.

So, your accountant will likely need more than the pro forma shows to prepare taxes. However, the pro forma is very useful to understand and make decisions about your Estate both before and during settlement.