SYSTEM AND METHOD FOR INCOME MANAGED ACCOUNT
First Claim
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1. A method of managing a consolidated account, comprising the steps of:
- (a) providing a first account of non-cash assets;
(b) providing a second account of non-cash assets, the second account being different than the first account;
(c) using a processor, predicting the account balance of a consolidated account associated with a plurality of accounts, including the first and second account as a function of time and balance amount, including the steps of;
(i) predicting the amount and timing of income to be earned from the assets of the first account to be deposited into the consolidated account;
(ii) predicting the amount and timing of income to be earned from the assets of the second account to be deposited into the consolidated account; and
(iii) predicting the amount and timing of withdrawals from the consolidated account;
(d) comparing the predicted balance of the consolidated account with a predetermined criteria, and if the predicted account balance is less than the predetermined criteria, identifying a list of the plurality of accounts in a priority order in which to liquidate assets to thereby increase the predicted balance of the consolidated account to satisfy the predetermined threshold.
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Abstract
A system and method for managing a consolidated account which consolidates the cash flows of a plurality of different accounts and outside income, tracks the cash flows, monitors the sustainability of income streams and expense needs, makes projections for further potential cash flows, has the ability to make variable distributions, tracks the current and projected balance in the income managed account and issues alerts when account parameters fail to meet a criteria, and automatically takes corrective action or makes recommendations.
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Citations
19 Claims
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1. A method of managing a consolidated account, comprising the steps of:
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(a) providing a first account of non-cash assets; (b) providing a second account of non-cash assets, the second account being different than the first account; (c) using a processor, predicting the account balance of a consolidated account associated with a plurality of accounts, including the first and second account as a function of time and balance amount, including the steps of; (i) predicting the amount and timing of income to be earned from the assets of the first account to be deposited into the consolidated account; (ii) predicting the amount and timing of income to be earned from the assets of the second account to be deposited into the consolidated account; and (iii) predicting the amount and timing of withdrawals from the consolidated account; (d) comparing the predicted balance of the consolidated account with a predetermined criteria, and if the predicted account balance is less than the predetermined criteria, identifying a list of the plurality of accounts in a priority order in which to liquidate assets to thereby increase the predicted balance of the consolidated account to satisfy the predetermined threshold. - View Dependent Claims (2, 3, 4, 5, 6, 7, 8, 9, 10, 11, 12, 13)
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14. A method of managing a consolidated account, comprising the steps of:
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(a) using a processor, predicting the account balance of a consolidated account associated with a plurality of accounts for a predetermined period of time, wherein the plurality of accounts includes a first and second account of non-cash, including the steps of; (i) predicting the amount and timing of income to be earned from the assets of the first account to be deposited into the consolidated account; (ii) predicting the amount and timing of income to be earned from the assets of the second account to be deposited into the consolidated account; and (iii) predicting the amount and timing of withdrawals from the consolidated account; (b) comparing the predicted balance of the consolidated account with a predetermined criteria, and if the predicted account balance is less than the predetermined criteria, identifying a list of the plurality of accounts in a priority order in which to liquidate assets to thereby increase the predicted balance of the consolidated account to satisfy the predetermined threshold; and (c) liquidating assets from the plurality of accounts in the identified priority order and depositing the income derived therefrom in the consolidated account to thereby increase the predicted balance of the consolidated account to satisfy the predetermined threshold. - View Dependent Claims (15, 16)
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17. A system for managing a consolidated account, comprising:
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a memory for storing computer readable code; and a processor operatively coupled to the memory, the processor configured to; (a) predict the account balance of a consolidated account associated with a plurality of accounts for a predetermined period of time, wherein the plurality of accounts includes a first and second account of non-cash, including configured to; (i) predict the amount and timing of income to be earned from the assets of the first account to be deposited into the consolidated account; (ii) predict the amount and timing of income to be earned from the assets of the second account to be deposited into the consolidated account; and (iii) predict the amount and timing of withdrawals from the consolidated account; (b) compare the predicted balance of the consolidated account with a predetermined criteria, and if the predicted account balance is less than the predetermined criteria, identify a list of the plurality of accounts in a priority order in which to liquidate assets to thereby increase the predicted balance of the consolidated account to satisfy the predetermined threshold; and (c) liquidate assets from the plurality of accounts in the identified priority order and depositing the income derived therefrom in the consolidated account to thereby increase the predicted balance of the consolidated account to satisfy the predetermined threshold. - View Dependent Claims (18, 19)
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Specification