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Get Cash Quickly with a Probate Advance

When someone passes away, one of the very few bright spots is the prospect of an inheritance. Many people work hard to leave behind a financial legacy to help out their family members. However, how long the inheritance process can take may come as a big surprise. That is because of Probate.

Understanding Probate

Probate is the term we use for winding up a deceased person’s estate. During probate, the executor values the estate, collects debts, pays debts, files income taxes, and liquidates assets. Once that is complete, the executor can distribute assets to the heirs.

The probate process can be long or short. It depends on the complexity of the estate and whether there are any challenges. However, even simple estates take a few months because the executor needs to notify potential creditors of the deceased’s death. The length of the statutory period depends on the state. For more complex estates, it can take years rather than months.

What Can Delay Probate?

Several things can cause a delay in the probate process.

  • Will Contests
  • Locating Property
  • Problems Collecting Debts
  • Rejected Creditor Claims
  • Liquidating Assets
  • Family Conflict

You may think these delays only apply to large estates. However, even smaller estates can experience these issues.

Getting Money Before Probate Concludes

What if you need money before the probate process ends? Your loved one left you money because they wanted you to have it when they died. Waiting years for it may lead you to financial problems, cause you to miss out on opportunities, or even leave you without money for daily living expenses.

You can access your inheritance earlier through a process known as an inheritance advance or probate advance. An inheritance advance is a cash advance from your inheritance. The funding company purchases a portion of your inheritance. In exchange, you pay them a fee. You get the money immediately. They collect that money and the fee when the estate ends probate. You do not need good credit or a job to qualify, you do not need to make payments, and you do not owe them anything if your share of the inheritance ends up being smaller than the amount they advanced to you.

The probate advance process is fast. You can often get your money within 24 hours, and almost all of our clients get the money within five business days. It is also simple. You do not have to deal with the estate to get a cash advance. Instead, we purchase part of your interest in your inheritance. Then, we deal with the estate to get our payment at the end of the probate process.

How Much Does a Probate Advance Cost?

There is no single answer to that question. That is because the cost of an inheritance advance depends on the amount advanced and the projected length of probate. We give you a no-cost, no-obligation evaluation of your advance request. It comes with a personalized fee for your advance. So, you know all the costs up-front before you agree to take the advance.

Probate Timeline – How Does the Probate Process Work?

The probate process will differ by estate, but there are three main steps that an estate typically goes through in order to become settled, with the time it takes for each step to be completed dependent on the complexity and size of the estate. Read on to learn more about what to expect during a typical probate process.

An attorney should be hired to help with the filings and the probate process.

Step One – File for Probate

In order to get the process of probate started, a petition to file for probate must be made, and if there is a legal will, this must be filed alongside the petition. The petition will be heard before the court typically within two months of the filing date. Anyone who is listed in the will shall be notified according to the law. If debts are owed by the estate, creditors will be notified and may file claims with the court in order to recover the debts.

The purpose of the hearing is to determine whether there are any objections to the probate. If there are no objections, then the will is admitted to probate and the personal representative, or executor, is appointed. The executor can choose to retain a probate attorney to assist during the process.

Step Two – Liquidate Estate and Pay Debts

Once probate is underway, there are many filings that need to be made before any settlements can be reached. Depending on the complexity of the estate, this step of the process can take the longest. One of the most important aspects of this stage of probate is identifying and evaluating all assets that were owned by the decedent at the time of their death. Once the appraisal has been made and all authorities have been notified, then the assets, both real and personal, can be liquidated.

Any debts and taxes owed by the estate must be paid to the creditors from the estate before moving to the next stage. If there are any disputes over finances or properties, these must also be settled.

Step Three – Finalize Probate

Once step two has been taken care of, it is time to close the estate and distribute remaining assets to the heirs and beneficiaries, however, this step requires that a specific process be followed. Firstly, a court order of distribution must be obtained before the estate accounts can be closed. Once the accounts are closed, final distributions to the heirs can be made according to the order of distribution. It is crucial during this stage that receipts are collected from the heirs once the distributions have been made in order to close out the process of probate.

The total length of time that probate can take is on average between 12 and 18 months, but it can take longer if the estate is larger or has complexities surrounding it that need to be solved. If you are an heir, you may be waiting a long time for your inheritance, and may consider a probate advance in order to access your inheritance sooner.

What Is The Probate Process?

The probate process can be intimidating. If you have not lost a loved one before, then you may not know what to expect from probate. Probate refers to the process of an estate going through the court system to distribute assets to heirs. Not all estates go through probate. The deceased person may have set up their estate to skip probate through things like trusts. In some jurisdictions, heirs can also agree to avoid probate for uncomplicated estates. Learn More Here.

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The Benefits of Probate Advances

If you are expecting to receive an inheritance but would rather have the cash value immediately, then you may consider the benefits that probate advances can provide you with. At My Inheritance Cash, we help our clients understand the advantages of a probate advance or inheritance advance so that they can make a more informed choice.

1. Financial boost when you need it

If you have student loans, a medical debt, or are falling behind on your bills, then having access to cash can significantly improve your situation. At My Inheritance Cash, we support clients from all over the country in being able to improve their financial situations by helping them access a portion of the value of their inheritance in a quick and seamless way, rather than waiting almost two years to receive their money.

2. No need to wait for probate to finalize

Given the extreme length of time that it takes for the probate process to complete, you may be in for a long wait before you see your inheritance. With a probate advance, you can easily access your well-deserved money quickly, with payouts occurring within a few days of approval of your application. Most people cannot afford to wait for probate to finalize, and with a provider like My Inheritance Cash, you do not have to, either.

3. No restrictions on how you use your money

Your inheritance is money that you are entitled to. When you choose a probate advance over a standard personal loan from a bank or credit union, you are not restricted to how you use your money. There is no requirement for you to state your intended usage of the money once it is provided to you, and you can choose to spend it on what you want to spend it on. Is it time for a new car? Do you want to invest in a new enterprise? The choice is yours.

4. Working with a company that understands the process

As you have learned, probate can be an extremely complicated process. There are many facets to consider that can affect the final value of your inheritance, and when you work with a probate advance company such as My Inheritance Cash, you have the benefit of working with a company that truly understands the process. This way, you are able to gain an inheritance advance that is accurate and fair, without having to worry about any issues arising in the future once probate has been settled.

At My Inheritance Cash, we offer our clients peace of mind when it comes to accessing their inheritance before probate is finalized. As you can see, there are many benefits with obtaining a probate advance that can improve your financial situation. Speak to our team if you are interested in a probate advance.

Cost of a Probate Advance in Different States

Probate advances may have different costs in each state, but this is largely directed by the company themselves. Few states have rules regulating inheritance cash advances and probate advances, with California being one of the only states to have regulations, where probate advances are considered an inheritance cash advance assignment that does not require any interest payments on the recipient. All companies require fees for service, so be sure to do due diligence to determine the fees you must pay to access an inheritance cash advance or probate advance in your area.

Ready to Get Started?

The process is simple. We have an online application process. Supply us with the information, and we will craft a personalized proposal. Then, you have all the information you need to determine if a probate advance is right for you.

Frequently Asked Questions About Probate Advances

The amount of money that you can access as part of a probate advance or an inheritance advance is dependent upon the size of the estate or the amount of the inheritance that you are expected to gain after probate has completed. At My Inheritance Cash, we offer our clients up to one third of your expected inheritance. That means, if you are expecting $100,000 then we can offer you up to $33,000 of your inheritance as an advance that you can access within 72 hours of approval by our team.

An estate cash advance has many benefits over probate advances. The biggest benefit is that, unlike a loan, an inheritance cash advance does not need to be repaid by you, as it is a process whereby you can access cash that belongs to you, with reimbursement made directly to My Inheritance Cash by the trust or estate. The fees you pay for accessing an estate cash advance are set depending on two variables: the dollar amount that we advance to the recipient as well as the time we expect the estate to finalize settlement.

Probate can be a very lengthy process depending on how complicated or large the estate is. Typically, probate can last anywhere from 12 to 18 months before final disbursement of all assets and property are made to the heirs. Applying for a probate advance with My Inheritance Cash is the perfect way to access the value of your expected inheritance quickly and easily. All fees you pay to access a probate advance are determined by how long we expect the estate to settle, and if probate takes less time than expected due to a simple estate, we offer rebates on the fees for service.

In order to first qualify for an inheritance advance through My Inheritance Cash, you must submit an application indicating that you are an heir to an estate. Then, once your application is reviewed by our team, we make the payment to you typically within 24 to 72 hours. The easiest way to access your probate advance or inheritance cash advance is through a wire transfer, as the funds will be instantly available to you, but if you do not have a bank account, or if you would prefer a check to be sent to you, we can do that, too.

There may be state and federal taxes on your inheritance, so it is recommended that you speak to a member of our team or an accountant in order to determine whether this applies to you. Only a few states, such as Pennsylvania, Iowa, Nebraska, Kentucky and New Jersey, impose inheritance tax which must be paid by the recipient if your deceased loved one resided in any of these states. Large estates may be required to pay a federal estate tax.

If the estate that you are an heir to has any debts, these are resolved during probate. Only after creditors are paid will your inheritance be disbursed, so any debts may reduce the amount of your inheritance. At My Inheritance Cash, we offer up to one third of your expected inheritance after all debts have been paid, so this could lower the amount of the inheritance advance that you are eligible for. Speak to our team to find out more about how debt affects your inheritance advance or probate advance.

Typically, probate needs to be open in order for you to access probate advance or an inheritance cash advance. However, there are sometimes exceptions to this rule. At My Inheritance Cash, we evaluate each application on a case by case basis to determine whether or not it is appropriate for you to be provided with an inheritance advance or probate advance. If you are unsure whether your application falls under an exception, you can speak to our team to learn more.

Banks and credit unions do not typically provide heirs or beneficiaries with inheritance advances or probate advances, but rather, provide clients with personal loans. Instead, you may wish to seek another type of service such as My Inheritance Cash in order to access a portion of the value of your expected inheritance. There are many qualified companies around the country, so be sure to do your due diligence to see what amount of your inheritance you can access and what fees are associated with the access.

At My Inheritance Cash, we simply want to make your life easier. No matter what you need a probate loan for, the money is yours to spend it as you wish. We deliver only top-tier service with the utmost of compassion and respect, with account deposits of cash within 72 hours of approval.

To find out more and determine your eligibility for a probate loan fast, call My Inheritance Cash now at (877) 638-7760.