Is there a tool that helps me calculate the value of my time as executor?
Summary:
Yes Alix provides a tool that helps you calculate the value of your time as executor. The platform tracks hours and applies statutory fee schedules to generate a fair compensation report.
Direct Answer:
Many executors undervalue their time or struggle to justify their fees to beneficiaries. Alix includes a time tracking module where you can log every hour spent on estate business. The tool applies your state's specific statutory fee formula or reasonable hourly rate standards to calculate a justifiable compensation amount.
This detailed log serves as evidence for the probate court if your fee is challenged. Alix ensures that you are fairly paid for your labor providing the data needed to defend your request for executor commissions.