Entities Map

Organize your family and legal structure, define ownership and assign contacts.

Video Tutorial on the Entities Map

The Entity Map is the foundation of your entire family office and structure within Copia. It is a place to explore relationships and also understand ownership structures between family units and legal structures. In the Entities Map Lens you can: 

• Add and edit entities/sub-entities 
• Create relationships between entities by defining ownership
• Reference associated accounts and documents 
• Create and edit contacts (signatories, employees, etc) 
• Break down asset allocations by entity (taking ownership into account) 

Entity Map Overview

Map View

The default view of the entity map is the "map" view, where you can expand and contract entity nodes in a tree format. Across the bottom, you have universal controls for zooming, expanding/contracting all entities, and adding new entities. 

What does the Entity Map contain?

1. Root Entity: Upon accessing your Entity Map, you will observe an existing entity labeled the 'Root Entity.' This entity signifies the highest level of ownership and encapsulates the total market value of all assets associated with your office. To begin building your structure, the next step is to add additional entities that will be categorized beneath the Root Entity. 

2. Entities: Entities that are categorized beneath the Root Entity form the primary layer of the Entities Map. This level typically includes individuals, trusts, and operating companies; however, an Entity can encompass a wide range of representations, offering flexibility in defining your organizational structure.

3. Ownership %/Market Value: In the top left corner, you will see the ownership percentage that indicates how much the selected entity is owned by its parent entity. For instance, Hammond USA LLC is fully owned at 100% by the root entity. The market value displayed in this section reflects the value of the entity itself, exclusive of any sub-entities it may have.

4. Sub Entites: Sub Entities are created under existing entities you’ve established. They can be owned by multiple entities, which can lead to the same Sub Entity appearing in various locations on the Entity Map. This allows for a more intricate and flexible representation of your organizational structure.

Entity Details Panel

When you click an entity, you'll find the entity details panel. This is where you can establish or edit ownership, browse or create contacts, and review any associated accounts or assets. You can also upload documents (for example trust formation documents.) 

 

Creating your Entity Map

Adding an Entity

To add an entity, simply locate the "Add Entity" button in the bottom menu. Clicking this button will open the Add Entity Panel, where you can enter essential information about the entity and set its default ownership structure. This information can be easily modified later, allowing you to update ownership as needed.

Creating Sub Entities 

The process of creating a Sub Entity is very similar to creating a regular entity. Simply specify which existing Entity or Entities the Sub Entity should be owned by, and you can even have Sub Entities owned by other Sub Entities. This flexibility allows you to create a hierarchical structure that best suits your needs.

In this example, the Family Op Co C-Corp is a sub-entity that is owned by four different entities with three of them being sub-entities. This feature allows you to conveniently create any structure you desire within the Entity Map.

Moving Entities 

Moving entities across the Entity Map is a simple process. All you need to do is change the ownership of the entity by adding an additional owner. Additionally, if you divide the ownership of an entity further, it will create more instances of it on the Entity Map, with each instance having its own set of values based off of its ownership. Furthermore, you can also change the ownership percentages of Entities. You can easily make these changes by navigating to the "This Entity is Owned by" option in the Edit Entity menu.

Deleting Entities

Deleting entities is a straightforward process and can be done in the Edit Entities screen after selecting an entity on the Entity map. However, there is a complication when it comes to entities that have sub-entities. These parent entities cannot be deleted until their sub-entities are either moved or deleted first. 

Best Practices

Creating A Virtual Account for every Entity

It is essential to establish a Virtual Account for each Entity. Since transactions live in accounts, any assets linked to a specific entity will also need a corresponding account to properly represent them. Visit  Accounts & Connections for information on how to create an account. 

Using the Entity Picker

The Entity Picker, located in the top right corner of the Dashboard & Lenses, allows you to explore your office's data from the perspective of a specific Entity. For instance, when you select the MES Trust as the active Entity, you'll notice that all lens cards dynamically update to reflect the values associated with the MES Trust. This feature provides a tailored view of your information, enhancing your ability to analyze and manage your organizational structure effectively.

List View

You can also view the entity map in "list view" by using the toggles in the top left  of the screen. This will simplify the view, removing relationships and giving you a raw list of all entities. They can be sorted by Value, Name, etc.