When you find out a loved one has died, it breaks your heart. However, finding out that your loved one remembered you in a will can be a huge relief. Most of us have some struggles with money. Even a modest inheritance can be life changing.
Did you know that there is often a huge time gap between death and getting your inheritance? Many estates go through the process of probate. Depending on several factors, the probate process can take months to years. Until it is finished, the personal representative cannot dispense funds to the heirs. So, you wait, and you wait.
What is happening while you are waiting? That depends on your personal circumstances. For some people, waiting for an inheritance is no big deal. For others, waiting for an inheritance means missing some opportunities, like investment opportunities, dream homes, and vacations. For even more people, waiting for an inheritance means deepening financial struggle. While an inheritance may be enough to get you out of debt, that bonus can be wiped out if you are paying increasing amounts of interest on your debts.
How Inheritance Advances Work
An inheritance advance helps you take advantage of some part of your inheritance before probate is over.
The process starts with a consultation. We talk to you about your goals from an inheritance advance, the amount of your anticipated inheritance, and what it means to take an advance. We charge a fee for our services. The fee is higher than many people anticipate, because we take on the risk that we will not be repaid if the estate becomes insolvent. So, we want to ensure that our customers understand all of our pricing policies upfront.
During the consultation process, we also review the estate. We have to determine whether there is sufficient money in the estate to cover the costs of your advance. We also have to ensure that your share of the estate will be sufficient to cover your advances.
Inheritance Advance Funding
The next step is funding. We can wire funds to your account. The process is faster than most people realize. We can get the money to you within a few days of finishing the application process.
Once you get the funding, you no longer have to worry about us. We collect the advance from the estate when probate concludes. If something happens to the estate and they become unable to pay us the money that you got in advance, you still have nothing to do with us. You are not responsible for any deficits between the amount we advanced you and the amount we collect from the estate.