Inheritance & Probate Loan Facts | Renowned for Our Rapid and Reliable Reputation
Facing the death of a loved one can be overwhelming. You are dealing with the emotions involved with loss, and grief can make it very difficult to make good decisions. However, if you are the beneficiary of an estate, you may also be facing complex legal issues. While we cannot help relieve your grief, we hope this guide to probate and the inheritance process will help you understand the steps involved with getting an inheritance. First, you need to understand people’s language when talking about inheritances.
Probate varies from state to state. However, the process has similarities. The administrator presents the Will to the court. Suppose there is no administrator named in the Will. In that case, or if the administrator is unable or unwilling to serve, or if the deceased died intestate, the judge can appoint an administrator.
First, the court determines the validity of the Will. In most cases, this is not difficult because all the beneficiaries and potential beneficiaries agree it is the Will. However, sometimes there may be competing copies of the Will. In that instance, the judge must determine which copy of the Will is valid. You may have to provide additional documentation to the court, such as a death certificate. The court appoints an administrator/executor/personal representative. It gives them letters of testamentary, which allow them to act on behalf of the estate.
In some instances, the executor may have to post a bond. The purpose of the bond is to protect the assets in the estate from misuse by the executor. However, a Will can waive the requirement for a bond.
Next, the executor needs to value the estate. That begins with locating the deceased’s assets. That sounds straightforward but can be difficult. The executor has to make sure that the estate pays bills that it owes, such as mortgages, insurance, and taxes. In addition to real property, the executor must look for personal property, cash, bank accounts, investment accounts, stocks, and bonds. The executor should inventory the property and provide an inventory to the court.
The executor also needs to notify the creditors. Usually, this is done by publication. Once published, creditors have a short amount of time to file claims. Probate cannot close until the end of the period for creditor notifications. Suppose the executor rejects a claim against the estate. In that case, the creditor can petition the court to decide whether the claim is valid. The executor must pay most debts owed by the deceased. The executor also has to collect any money owed to the deceased.
Another big task for the executor is income taxes. The executor must file a final personal income tax return for the deceased. They must do this whether or not the deceased owes estate taxes to the federal or state government.
After the executor has handled paying debts and collecting from debtors, it is the executor’s job to distribute the estate assets. The court has to grant permission for the executor to distribute assets. In a cash-only estate, this step is simple. However, the distribution can be more complicated in an estate with real property or personal property that must be liquidated.
The steps are similar for an intestate estate. However, instead of complying with the terms of the Will, the executor follows state laws to distribute the assets.
Getting a Probate Advance
What happens if you need money before the end of the probate process? You can get an inheritance advance. With an inheritance advance, you sell a portion of your inheritance to an inheritance funding company. You get the money immediately, do not have to pay interest, or make payments. Instead, the funding company deals directly with the estate to get their money at the end of the probate process.
We Don’t Check Your Credit and Income!
Unlike a loan, your Probate Cash Advance is simply what’s already yours – your Inheritance! Repayment is taken directly from the Estate or Trust, meaning there’s NO recourse for non-payment. Because we rely on the presumption that your funds will be delivered, there’s no need for a credit check or income report, EVER!
At My Inheritance Cash, We’ve Heard It All:
- Can I take out money from my inheritance during probate?
- How do I borrow money against my inheritance?
- What does it mean to borrow against inheritance?
- Is borrowing from inheritance a loan?
- Can I take out a loan on my inheritance?
- What’s the best company to get a loan during probate?
Thankfully, while YOU may not know the answers to these questions, WE do! Customers are often surprised to find that an Inheritance Cash Advance Assignment is not, in fact, a loan. Since the funds are already yours, we’re simply speeding up the process!
At My Inheritance Cash, we NEVER check your credit report or income history, and there is NO interest on repayment! For peace of mind, funds come directly from the Estate, meaning there’s NO wait, NO worry, and NO stress on your end! You’ll hear our services called a lot of things – Inheritance Advance, Inheritance Cash, Inheritance Loan, Probate Loan, Estate Loan, etc. But at the end of the day, all that matters is that you get what is rightfully yours: Your Inheritance!
How To Know Whether You’ve Hired The Right Company
If you thought that a family dispute was the worst of it, think again! The Estate Market is full of quacks and swindlers, just waiting to take advantage of you in your time of need.
Don’t let yourself fall prey! At My Inheritance Cash, our solid track record of success speaks for itself. Contact us TODAY to chat with one of our friendly Inheritance Funding Officers, or check out our testimonials online. An Inheritance Advance is NOT a loan! Watch out for tricksters and frauds who promise no monthly fees or low-interest repayment. Your Cash Assignment is YOUR money, with no recourse to you for non-payment!
An Advance on Inheritance Has Never Been Easier!
At My Inheritance Cash, we proudly provide the best Estate and Probate Cash Advance services! The friendliest team you’ll ever meet, our professional Inheritance Advance Managers have the experience it takes to get you YOUR money, FAST!
No matter what you call it – Probate Advance, Estate Cash Advance, Inheritance Loan – the team at My Inheritance Cash is dedicated to making sure that you get your money with NO wait, NO worry, and NO STRESS!
While probate can seem to drag on forever, Cash Assignment paperwork can be completed in a matter of hours! If getting a portion of your Inheritance in as little as 48 to 72 hours sounds too good to be true, give us a call! At My Inheritance Cash, we aren’t lawyers, and we don’t judge. Sit back, relax, and let us do the heavy lifting, while you enjoy the hard-earned reward of your benefactor!
How Inheritance Advances Work
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. Learn more on how Inheritance Advances work here.
- Administrator – The person responsible for winding up the deceased’s affairs, valuing the estate, collecting debts on behalf of the deceased, paying bills on behalf of the deceased, filing estate taxes and income taxes, and distributing assets to heirs. Also known as an executor or personal representative.
- Beneficiary – A person who gets money through a Will or intestate inheritance laws. Also known as an heir or inheritor.
- Decedent – The person who passed away (died).
- Estate – The sum of a person’s property, especially at the time of their death.
- Estate Taxes – See inheritance taxes.
- Executor – See administrator.
- Heir – See beneficiary.
- Inheritance -The assets passed down to someone after a person dies.
- Inheritance Taxes – State or federal taxes on an estate or the inheritors for assets passed down from the deceased. Also known as estate taxes.
- Inheritor – See beneficiary.
- Intestate – Without a Will.
- Personal Representative – See administrator.
- Probate – The judicial process for proving a Will and distributing assets from the estate to the heirs.
- Trust – An estate planning tool that lets you pass down assets without going through probate that also lets the deceased control how those assets are managed after their death.
- Will – A legal document that directs how a deceased’s property should be distributed after death.