Organize your family and legal structure, define ownership and assign contacts.
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
- 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
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.
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.)
Adding an Entity
Clicking the Add Entity button will bring up the Add Entity Panel. Here you'll gain access to some basic information about the entity and define it's default ownership structure. You can easily edit this information later, and update ownership at any time.
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.
Creating Sub Entities
You also have the option to create Sub Entities within Copia. These Sub Entities are owned by other entities that you have created. This feature allows you to create multiple layers of entities, making it easier for you to organize your family office and structure. 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.
Below, you will find an example of how the Entity Map can be used to create a hierarchical structure. In this example, the Family Op Co C-Corp is a sub-entity that is owned by two entities, one of which is also a sub-entity. This feature allows you to conveniently create any structure you desire within the Entity Map.
In the Entity Map view, you can easily visualize the ownership structure of each entity. This includes the percentage of ownership displayed in the top left corner of each entity, as well as the total value associated with that entity. By referring to our example, you can observe how the values for the same entity, Family Op Co C-Corp, differ in two different locations, reflecting its ownership percentage. This feature allows for a comprehensive understanding of the entity's ownership distribution within the overall structure.
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.
