Estate disposition modeling

• US 9,836,797 B2
• Filed: 05/17/2012
• Issued: 12/05/2017
• Est. Priority Date: 09/05/2008
• Status: Active Grant

• Current Assignee: JP Morgan Chase Bank, N.A. (JP Morgan Chase & Co)
• Original Assignee: JP Morgan Chase Bank, N.A. (JP Morgan Chase & Co)
• Inventors: Racanelli, Janine A., Millligan, Tina D., Siow, Martin W., El-Menshawy, Ramy F., Toben, Ryan D., Anderson, Lauren
• Primary Examiner(s): Iwarere, Seye
• Application Number:
  US13/474,298
• Publication Number:
  US 20120284201A1
• Time in Patent Office: 2,028 Days
• Field of Search: 705 31, 705312, 705 36 T, 705 38
• CPC Class Codes: G06Q 40/10 Tax strategies
• CPC Class Codes: G06Q 40/123 Tax preparation or submission
• CPC Class Codes: G06Q 50/186 Estate planning

Abstract

A system and computer-implemented method for modeling estate disposition are disclosed. One embodiment receives balance sheet inputs, estate planning document inputs and timing/event inputs. Conveyance and tax logic are applied to the inputs. Flowcharts illustrating the disposition of the estate based on the inputs are generated. Tax and liquidity analysis based on the inputs are also generated.

Claims

1. A computer-implemented method for modeling an estate disposition using a customizable graphical visualization tool by executing, using at least one computer processor, stored executable computer instructions, the executable computer instructions stored in non-transitory memory, the method comprising:

providing a customizable graphical visualization tool for modeling an estate disposition;

receiving a plurality of estate disposition documents over a communication channel, the estate disposition documents including estate disposition information in natural language form;

executing a natural language balance sheet analyzer code module to extract, from at least a portion of the estate disposition documents, balance sheet inputs for a first individual, the balance sheet inputs including a first asset and first asset value information;

executing a natural language conveyance analyzer code module to extract, from at least a portion of the estate disposition documents, an indication of a first conveyance event;

executing a natural language estate disposition analyzer code module to selectively extract, from at least a portion of the estate disposition documents, first estate document inputs for the first individual, the first estate document inputs including a first conveyance instruction associating the first asset and a first beneficiary, the first conveyance instruction corresponding to the first conveyance event;

generating, using the at least one computer processor and a selected first set of logic, a first customizable flowchart corresponding to the first conveyance event, the first customizable flowchart visually representing the first conveyance instruction;

generating, using the at least one computer processor, a second customizable flowchart corresponding to an alternate conveyance event customized based at least on one of a user input, a first estate document input, and a balance sheet input, the second customizable flowchart visually representing the alternative conveyance instruction;

wherein the computer user interface is activated to display at least one of the first flowchart, the first liquidity analysis report, second flowchart, and second liquidity analysis report.

2. The method of claim 1, wherein a first liquidity analysis report is generated is based at least in part on a comparing of a first tax liability value to the first asset value information, the method further comprising:

estimating, using the processor, the first tax liability value associated with the first asset, the first tax liability corresponding to the first conveyance instruction and the first conveyance event.

3. A computer-implemented method for modeling an estate disposition by using a customizable graphical visualization tool executing, using at least one computer processor, stored executable computer instructions, the executable computer instructions stored in non-transitory memory, the method comprising:

providing a customizable graphical visualization tool for modeling an estate disposition;

receiving a plurality of estate disposition documents over a communication channel, the estate disposition documents including estate disposition information in natural language form;

executing a natural language balance sheet analyzer code module to selectively extract, from at least a portion of the estate disposition documents, balance sheet inputs for a first individual, the balance sheet inputs including a first asset and asset value information;

executing a natural language conveyance analyzer code module to selectively extract, from at least a portion of the estate disposition documents, an indication of a first conveyance event;

executing a natural language estate disposition analyzer code module to selectively extract, from at least a portion of the estate disposition documents, first estate document inputs for the first individual, the first estate document inputs including a first conveyance instruction associating the first asset and a first beneficiary, the first conveyance instruction corresponding to the first conveyance event;

receiving, and storing in non-transitory memory, balance sheet inputs for a second individual;

receiving an indication of a second conveyance event;

receiving second estate document inputs for the second individual, the estate document inputs including a second conveyance instruction corresponding to the second conveyance event;

generating, using the at least one computer processor and a selected first set of logic, a first flowchart corresponding to the first conveyance event, the first flowchart visually representing the first conveyance instruction;

wherein the computer user interface is activated to display at least one of the first customizable flowchart;

generating, using the at least one computer processor, a second customizable flowchart corresponding to the second conveyance event based on said step of selecting a first set of logic, the second customizable flowchart visually representing the second conveyance instruction;

generating, using the at least one computer processor, a third customizable flowchart corresponding to an alternate conveyance event customized based at least on one of a user input, a first estate document input, and a balance sheet input, the third customizable flowchart visually representing the alternative conveyance instruction.

4. The computer-implemented method of claim 3, wherein the first conveyance event corresponds to the death of the first individual, and the second conveyance event corresponds to the death of the second individual.

5. The computer-implemented method of claim 4, further comprising:

estimating a projected change in balance sheet inputs based on a difference in time between the deaths of the first and second individuals; and

updating the first and second balance sheet inputs based on the projected change in value.

6. The computer-implemented method of claim 4, wherein the estate disposition including conveyance, tax liability, and liquidity status is computed based on occurrence of the first conveyance event at a first time followed by the occurrence of the second conveyance event at a second time.

7. The computer-implemented method of claim 4, wherein the estate disposition including conveyance, tax liability, and liquidity status is computed based on occurrence of the second conveyance event at a first time followed by the occurrence of the first conveyance event at a second time.

8. The computer-implemented method of claim 3, wherein the estate disposition including conveyance, tax liability, and liquidity status is computed for a plurality of individuals having an existing or contingent interest in an estate, each individual being associated with estate document inputs, and wherein the estate disposition is computed for a sequence of conveyance events leading to the complete disposition of the estate.

9. The computer-implemented method of claim 3, wherein the estate disposition is computed for a sequence of conveyance events leading to the complete disposition of the estate.

10. The computer-implemented method of claim 3, wherein the estate disposition is computed for a plurality of sequences of conveyance events, thereby providing a range of potential estate outcomes for a range of potential sequences of life events.

11. A computer-implemented method for modeling a disposition of an estate using a customizable graphical visualization tool by executing, using at least one computer processor, stored executable computer instructions, the executable computer instructions stored in non-transitory memory, the method comprising:

providing the customizable graphical visualization tool for modeling an estate disposition;

receiving a plurality of estate disposition documents over a communication channel, the estate disposition documents including estate disposition information in natural language form;

estimating, using at least one computer processor, a first tax liability value associated with the first asset, the first tax liability corresponding to a first conveyance instruction and a first conveyance event for a first individual;

generating, using the at least one computer processor, a first customizable flowchart corresponding to the first conveyance event, the first customizable flowchart visually representing the first conveyance instruction;

estimating, using the at least one computer processor, a second tax liability value corresponding to the second conveyance instruction and the second conveyance event for a second person;

generating, using the at least one computer processor, a second customizable flowchart corresponding to a second conveyance event based on a first set of logic, the second flowchart visually representing the second conveyance instruction;

generating, using the at least one computer processor, a liquidity analysis report corresponding to the first conveyance event and the second conveyance event based on said step of selecting a first set of logic;

generating, using the at least one computer processor, a third flowchart corresponding to an alternate conveyance event customized based at least on one of a user input, a first estate document input, and a balance sheet input, the third flowchart visually representing the alternative conveyance instruction;

wherein the computer user interface is activated to display, using the at least one computer processor, the first customizable flowchart, the second customizable flowchart, the third customizable flowchart, and the liquidity analysis report.

12. The method of claim 11, wherein the first flowchart is interactive.

13. A computer-implemented method for modeling an estate disposition using a customizable graphical visualization tool by executing, using at least one computer processor, stored executable computer instructions, the executable computer instructions stored in non-transitory memory, the method comprising:

providing the customizable graphical visualization tool for modeling an estate disposition;

receiving a plurality of estate disposition documents over a communication channel, the estate disposition documents including estate disposition information in natural language form;

automatically detecting first estate document inputs by processing a first estate document received;

generating, using the at least one computer processor, a first customizable flowchart corresponding to a first conveyance event based on a selected first set of logic, the first customizable flowchart visually representing the first conveyance instruction; and

generating, using the at least one computer processor, a second customizable flowchart corresponding to an alternate conveyance event customized based at least on one of a user input, a first estate document input, and a balance sheet input, the second flowchart visually representing the alternative conveyance instruction;

wherein the computer user interface is activated to display at least one of the first flowchart, the first liquidity analysis report, second flowchart, and second liquidity analysis report.