EstateExec Executor Software Upgraded as Tax Season Ends
With Estate Settlement Taking 16 Months on Average, Estate Executors Are Still Hard at Work
SILICON VALLEY, Calif., April 16, 2019 /PRNewswire/ -- As tax season officially draws to a close, EstateExec, the leading online software for estate executors, announced several significant enhancements designed to further ease the burden of serving as an executor, including an executor expense tracking capability, automatic mileage calculations using federally approved rates, integrated reimbursement transactions with the estate ledger, and better support for shared access between lawyers and executors.
Although the average consumer can draw a sigh of relief for successfully navigating another income tax season, estate executors (and there are millions of them) are still hard at work: roughly half of all consumers will serve as an executor at some point, and the average executor spends 16 months and 570 hours on the process, sometime stretching into multiple years.
Michelle Loeza, a professional real estate agent and probate specialist at SavyAgent, said, "We try to provide a great experience for our clients, and think that EstateExec can be extremely useful for professional executors and first-timers alike. These new enhancements make things even easier to understand and fill in an area that often causes questions, particularly before the executor has established an estate account."
Overall, EstateExec online software helps executors organize and simplify the settlement process, including a task list that automatically adjusts to the details of the estate, a clearly organized estate inventory (including assets, debts, income, expenses, and distributions), and integrated calculations that tie everything together, save time, and minimize the chance for errors.
Previous versions of EstateExec included a Cashflow ledger that enabled executors to track estate income, expenses, and cash distributions, but didn't explicitly address executor expenses as they were incurred. With the new capability, executors can track their expenses as they go, and group expenses for reimbursement as desired, automatically linking everything back to the Cashflow ledger.
"Customers told us that they loved EstateExec, but that the executor expense treatment was a little confusing, especially for first-timers, so we added this new capability to make things even more explicit and easy," said Dan Stickel, EstateExec CEO and Founder. "We also improved the executor time log to make it easier to automatically calculate executor compensation in applicable states, plus made a host of other improvements."
EstateExec offers a free 10-day trial for new customers, and costs $99 for a five-year subscription (an expense that can be written off to the estate). The company also offers volume discounts to law firms in order to serve their clients.
ABOUT EstateExec: Based in Silicon Valley, EstateExec is the leading provider of software for estate executors. Since the 1800's, executors have had to rely on expensive counselors to guide them through the difficult process of estate settlement, and even these experts have had few resources to automate and simplify the effort. Now, with the help of breakthrough technology, EstateExec is revolutionizing the way executors settle their estates, making it easy to manage, calculate, and process. EstateExec is fast, easy, secure, and reduces risk of executor error. For more information, visit www.EstateExec.com.
SOURCE EstateExec
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