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How Does an Inheritance Cash Advance Program Work?

When people think about inheritances, they often do not think about the delay. The probate process can take months or even years. For people who may have depended on the deceased or who need the inheritance to survive, that delay can be overwhelming. An inheritance cash advance program can help people get a portion of their inheritance before probate concludes. However, since services charge a fee for those cash advances, a person needs to weigh the pros and cons before choosing that option.

One of the most important things to understand is that an inheritance cash advance is not a loan. The borrower does not have to pay the lender anything. Instead, it is more like a sale. The borrower actually sells a portion of their inheritance to the lender. The lender then collects the money directly from the estate at the conclusion of the probate process.

A significant benefit of this set-up is that the borrower does not owe any money to the lender. Even if the estate size is not sufficient to repay the lender, the borrower will not owe them any additional money. On the other hand, the fee is not time-based or focused on interest due. Prepayment of the amount does not guarantee that someone will not pay the total fees—though it may be part of some agreements.

Inheritance cash advances are a reliable way for people to get access to inheritance funds before the end of probate. They do not depend on credit checks as long as the lender can verify the estate’s assets. So, they can be an excellent option for people facing financial hardship. They are also a good option for people who want to avoid the opportunity costs associated with waiting for the conclusion of probate.

At My Inheritance Cash, our goal is to help people get access to their inheritance fast. Contact us today or fill out our online application and we will let you know the amount we can advance and the fees associated with that.