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Fast Inheritance Advances vs. Other Funding Options: Pros and Cons

As an inheritance advance company, you might think we would always encourage people to get inheritance advances. However, that is not true. Sometimes, an inheritance advance is a bad idea. Suppose you can’t wait to get your inheritance without incurring interest on debts, missing out on opportunities, or needing money for living expenses. In that case, it is probably wiser to wait. On the other hand, if waiting for your inheritance means you are incurring debt, cannot afford your living expenses, or will miss out on a great opportunity, an inheritance advance could solve your problems!


Immediate access to the money is the top benefit of an inheritance advance. You can usually have your money within just a few days. You do not have to qualify for a loan, so the process is generally faster than getting a loan. So, you have money quickly.

Another benefit is that inheritance advances do not impact your credit. (Well, they might positively impact you if you use funds to pay down credit cards!) You do not have to qualify for them, you do not have to make payments, and you pay no interest. Instead, you will pay a set fee for the advance, which comes from your share of the inheritance. So, once you have the advance, you do not have to worry about payments.


The biggest con of an inheritance advance is the fee. Remember that the funding company is taking the risk that the inheritance will not be large enough to cover your advance. So, the fees are how they make money and protect their risk. These fees may be higher than you would pay in interest on a personal loan or credit card. However, with today’s rising interest rates, the balance between fees and interest gets tighter and tighter.

The other con is that you are taking a risk. An inheritance advance makes sense if you are looking at a lengthy probate period. However, suppose the probate happens much more quickly than you anticipated. In that case, you still pay a fee for early access to money. So, before you take out an inheritance advance, you should try to find out more information about the expected duration of probate.

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As you can see, good arguments exist for and against inheritance advances. We are happy to answer any questions if you want more information about the process. There is no commitment involved with getting information. That information may be able to help you make a decision based on your circumstances.