As long as you pick a reliable Inheritance Funding Company, or Inheritance Advance Company, and you facilitate the paperwork quickly that you have to sign and notarize, and get your court documents to the inheritance lenders or probate lenders that you have chosen to get you a portion of your inheritance as an advance against inheritance – you really shouldn’t run into any serious obstacles with inheritance funding in Kansas. You can request an inheritance advance of any size if you’re inheriting enough in cash and other assets to merit it – as long as you can deliver on documents you are being asked for by the inheritance funding company you’re dealing with, such as My Inheritance Cash – plus produce a valid photo ID proving you are over 18; produce probate court documents you are asked for, produce estate documents you are asked for that prove you are a valid heir of the estate in question and are inheriting at least $15,000, such as an inventory sheet and a will… and any other paperwork items you need to sign and submit for inheritance funding in Kansas – as long as you sign, notarize, and submit back to the inheritance funding company, often called the inheritance loan company, inheritance lenders, or probate lenders, by heirs.
If you manage to keep up with all those tasks, perhaps with the help of your estate attorney, you should be well on your way to being approved. As long as the size of your inheritance is in keeping with the probate advance or estate cash advance you are requesting… moreover, the status of real estate may be an issue with inheritance funding in Kansas, if that is all your inheriting. If you do have mostly liquid assets, investment accounts, cash accounts, and so forth – you should be fine with any level of inheritance funding in Kansas, as far as approval for an inheritance advance is concerned, as long as all the other issues we just mentioned are in place.
Receiving money from an Inheritance Advance is allowed in the State of Kansas in all 105 counties.
If you are an heir to an estate in Kansas, are researching the Inheritance Advance process, and want to find out more about Inheritance Funding in general, and how a typical Inheritance Advance Company functions… Plus, need to know how Inheritance Lenders figure out and set Probate Advance Rates for inheritance funding in the state of Kansas, or what heirs call “Inheritance Loan Fees for Inheritance Loans or Probate Loans” … from an “Inheritance Loan Company”. And you want to find out about Inheritance Cash Advance Companies and how they determine “risk versus price” – you can search on Google with the below search terms to identify Websites that cover Inheritance Financing issues, along with the Trust and Probate Advance Companies that provide Inheritance Advances or, as many heirs call them – “Inheritance Cash Out” or “Inheritance Loan Advances”, “Inheritance Loans” and “Probate Loans" from what they call “Inheritance Loan Companies”. Despite the fact that this type of inheritance Lending or Probate Lending is not based on interest bearing loans, but is in fact a non-interest Inheritance Cash Advance assignment – “loan” related terms are included because most heirs and inheritance advance companies frequently use “loan” language for these services, basically out of habit and convenience:
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Kansas law requires a petition to be filed to open a probate case within 6-months of a person’s death. The assets that remain at the end of the process are distributed to the beneficiaries that are named in the will or to certain family members as determined by state laws of intestacy if the decedent had no will, or the court determines that the will is somehow invalid.
If the value of a person's estate is above a certain limit, called a "small estates limit," their estate must go through a probate proceeding before assets can be distributed to the people who inherit the assets. This is true whether there is a will or not.
The purpose of probate and probate court is to make sure that a decedent’s final wishes are followed to the letter, and that their property is distributed to heirs exactly as stated in their will. The person named in the will as executor, or personal representative, is appointed by the court. After that, the executor is in charge of protecting the estate's assets, identifying and valuing them, paying the debts and expenses of the deceased person, and lastly – distributing property and assets to heirs as stated by the will.
If a person left a will, but dies with a small estate, as determined by each state, the estate does not need to go through a formal probate proceeding. Instead, the executor or personal representative can file some simple paperwork and then pay the last bills and expenses, identify the property, and distribute it to the beneficiaries. (Each state's process is a different.) However, when a person passes without a will, or if the will has been misplaced and can’t be located, then the estate will be distributed to the heirs, under intestacy statutes. For example, if a person dies and leaves behind no spouse but two living children, the children would inherit the estate, in equal shares.
Once the probate case is opened, in Kansas the executor is responsible for numerous duties, including management of the decedent's property; and notifying heirs and creditors of the death. The executor is also responsible for identifying the decedent's heirs; and paying the final debts of the deceased. The process includes attending court hearings and filing necessary documents with the probate court. If there is a will, the executor is responsible for distributing valuables, personal property, real property, cash accounts and other assets to the intended beneficiaries. If no will exists, the executor distributes assets and property in line with the laws of intestacy in Kansas.
Kansas law provides several protections for surviving spouses. A spouse and minors are entitled to a family allowance of $35,000 and a homestead exemption of 1 acre of a city residence or 160 acres outside of a city, regardless of their value. The surviving spouse is also entitled to half of all real property owned by the decedent when he or she passed, regardless of what it says in the will.
A surviving spouse has the option to take whatever was left to her in the will or the amount provided to her by state law – otherwise known as elective share. The portion to which she is entitled under state law increases the longer the couple was married, ranging from 3% of the augmented estate for marriages lasting one year to 50% of the augmented estate for marriages lasting at least 15 years. An Augmented Estate reflects the total value of probate assets and non-probate transferred assets to a surviving spouse and other family members, with the exception of (a) funeral expenses, (b) creditors’ debts, (c) homestead rights, and (d) standard family expenses.
If there is no will or the probate court determines that it is invalid, the remaining property is distributed according to the Kansas rules of intestate succession. This series of laws states that the surviving spouse inherits everything – if the decedent has no descendants. If there are surviving children but no surviving spouse, the children inherit everything. If there are both surviving descendants -- such as children, grandchildren or great-grandchildren -- and a surviving spouse, the surviving spouse inherits 50% of the estate and the descendants inherit the other 50%. Parents and siblings have the next priority.