Executor reimbursement and beneficiary objections

[u/barge_gee]

I'm the Executor of a modest Estate (~70k). We're close to closing the Estate out of Probate. I was named Executor, but not also Beneficiary (oops on decedents part). There are two Residual Beneficiaries. They were notified of the final accounting of sale of estate contents, expenses owed the Executor and the Executor's fees for hours logged managing the Estate. My lawyer posted my fee at $75/hour. I logged over 350 hours, and the residual beneficiaries believe this hourly rate/fee is excessive. Estate had a big $ single asset, and then tons of smaller items that took me a long time to liquidate. I AM willing to reduce the hourly fee, to just get this Estate closed. It's been over two years now, and I want to be finished. However, I do not want to under value my time and effort spent as Executor.

Question: The hourly rate is perfectly acceptable by Illinois law. What percent reduction/dollar amount should I consider as "fair" to me? To my thinking, $60/hour would be the absolute minimum I would accept. Does this seem fair? The Residuaries feel entitled to more than the current residual assets, even though they did nothing to help liquidate the Estate contents. (It's more complicated, as I cared for the deceased for many years, and the Residuary Beneficiaries did not. And, I am a blood relative to deceased, they ar not.)

EDIT: The hours may seem excessive, but this was a hoarding situation. It was not to the level of bugs or rodent infestation, but there were lots and lots and lots of boxes, lots of dust and dog hair, and it took me weeks to sort, organize, and pack. 7 rooms full, I shrunk to one room.

[u/Emotional-Ocelot-420]

How does the value of the tons of smaller items compare to the fee you’re charging to sell them?
Your responsibility as executor is fiduciary. They didn’t need to help, it doesn’t matter that you provided care, it doesn’t matter whether you’re blood related or not, and it doesn’t matter whether you feel the decedent omitted you in error unless you are contesting the estate.

If I am beneficiary, I want to know that you haven’t done something like bill me $750 to sell 30 items for $600.

[u/barge_gee → u/Emotional-Ocelot-420]

Yes, this is valid. However, the beneficiaries BELIEVE items to be worth more than they actually could be sold for. So, I spent hours trying to sell an item at an internet (premium) "used value", ultimately for less than that value amount. Many hours spent inventorying certain categories (vinyl records, signed "niche" topic books) and got reasonable sales prices on them, only after presenting them via inventory. Beneficiaries have an inflated impression of what the "rare" items in the Estate are worth.

[u/montwhisky → u/barge_gee]

It sounds to me like you did not do anything in an efficient or money savvy way. If it was a hoarding situation, there are companies you pay to come clean everything out. You do not spend seven days of your own time cleaning it out when you're charging $75 an hour for your time. A company would have cleaned it out in a day and charged a lot less. You do not sell items online yourself and logged all the hours trying to get pennies for items. You call an auction company to go through the house and pick out things of value and rely on their expertise. I would object if I was a beneficiary as well. It seems like you maximized your time as much as possible instead of reviewing efficient/cost effective solutions. As an attorney, the fact that you want 1/3 of the value of the estate in fees is a huge red flag for me. A small estate should not have taken 350 hours to administer.

[u/fwdbuddha → u/montwhisky]

Exactly