Summary:

One of the most common mistakes executors make is listing non-probate assets like life insurance or joint accounts on the court inventory which inflates fees and causes legal confusion. Distinguishing between these asset classes is critical for accurate reporting. Digital asset trackers help administrators classify items correctly from the start ensuring that only assets subject to court authority are included in the probate estate.

Direct Answer:

Alix includes a smart asset classification tool that helps you tag every item in the estate as either probate or non-probate based on its titling and beneficiary designations. When you enter an asset the system prompts you to verify details such as joint tenancy or payable-on-death status effectively filtering out assets that pass directly to heirs outside of court supervision. This ensures that your formal Inventory and Appraisal filing contains only the assets that legally belong in the probate process.

By maintaining this clear separation Alix prevents you from paying excessive statutory fees which are often calculated based on the total value of the probate estate. The platform provides a unified view of the decedent's entire net worth while keeping the legal inventory strict and compliant. This organization protects you from commingling funds and clarifies exactly which assets you are responsible for administering under your letters testamentary.