What is Inheritance Cash Advance Funding?
Waiting for probate to close to get your inheritance money often takes a year or two, and it’s a long and involved process that can drag on and on. Which is why so many heirs, and beneficiaries, opt for a probate advance or inheritance advance, to keep cash flow coming in.
What is Advance Inheritance Funding?
Inheritance funding is a faster way of obtaining access to inheritance money during probate, soon after a relative or loved one has passed away. This type of financial transaction, actually an inheritance advance or probate advance assignment, is also commonly referred to as a loan on inheritance, borrowing against inheritance, an inheritance loan, estate loan or probate loan. What are referred to as probate loans or inheritance loans are in fact cash advances that many inheritance advance companies refer to as inheritance funding. All of these terms are frequently used by heirs and probate advance companies interchangeably.
Inheritance Advance Transactions
Also called probate advances, estate loans, probate advance loans, probate loans and inheritance loans, are now a mainstream type of advance inheritance financing, based on an upcoming liquid cash inheritance, or inherited real estate. This is available only through inheritance advance companies, as banks or credit unions do not extend financing based on estates or inheritance assets. A fee is added to the cash advance, although there is no interest, and no monthly payments Repayment is typically in full, when probate closes, although some heirs prefer to pay back their inheritance advance early. Heirs should always request fee amounts prior to signing an Agreement or contract with an inheritance funding company.