Inheritance Funding: Receiving an Inheritance Advance, versus an Inheritance Loan or Probate Loan, in Rhode Island
It is a relatively easy process for you to get access to a portion of your inheritance in Rhode Island, before probate closes, with an advance on inheritance, usually referred to as an inheritance advance, an estate cash advance, or a probate advance – often called an inheritance loan, estate loan or probate loan, despite the fact that this is not, in fact, an interest-bearing loan, but rather is a simple and rapid interest-free “cash advance assignment”. Our cash advance process, unlike many inheritance lenders, is designed to make it very simple, fast and easy to apply for a $3,000 to $100,000 cash advance assignment – literally in a few minutes, either online on our Website, or over the phone.
You can always call us at our main My Inheritance Cash office in New Jersey. There is always someone to talk to, and request an application, as many heirs do, for an inheritance advance or probate advance – a process most heirs call inheritance loan, an estate loan or a probate loan… Most people call us toll-free, asking to “borrow against my inheritance” with an inheritance advance, estate advance or probate advance – and get an immediate free quote and frequently a quick approval within 24 hours… Or in many cases, be able to put advanced inheritance cash right into your bank account within a few days. Without financial references, without a credit report, without a credit score, without invasive information on your job status or financial history, and without monthly payments.
At the end of the process, there is one lump sum repayment required, at the tail end of probate – that comes automatically out of your inheritance; not out of pocket. Without any delays or difficulties. The funding part of the process is literally 100% stress-free – concluding with cash in your hand within 48 to 72 hours, after emailing or faxing several standard estate documents, and a signed Agreement. Plus signing off on a few one or two-page documents that require notarization. And that, as they say, is that.
Passing Away With a Will in Rhode Island
When you pass away leaving a will behind, in Rhode Island, the courts must follow your instructions concerning your real property, personal property, valuables, cash accounts, and various financial assets. Rhode Island requires three signatures on a will – the decedent and two witnesses. However, while most states in America are flexible with regards to handwritten or verbal wills, Rhode Island insists that a will must be typed, on a typewriter or computer. Otherwise, your will won’t be considered a valid, legally acceptable will. The executor, named in the will, is called the “by proxy” manager of your estate… Even though, in reality, the attorney, and hopefully your estate has one, is the person who makes all the critical estate or probate decisions. Frankly, the executor (male) or executrix (female) rarely has any experience in this area and is therefore frequently out of the picture when it comes to making key decisions. The attorney generally guides the executor through processes such as paying back debts to creditors, looking out for fraud, dealing with paperwork and documents, document filings; and the distribution of inheritances assets, cash, real estate and personal property (such as valuables, jewelry, antiques and expensive artwork) to heirs and/or beneficiaries.
Passing Away Without a Will in Rhode Island
Rhode Island calls an estate without a will “intestate” (a) if there is no existing will when the decedent passes away, or (b) there is a will that is deemed invalid as it does not meet the requirements of Rhode Island inheritance law; or (c) the court deemed the will to be invalid due to fraud. Personal property and real property, inherited by your heirs, are considered two different categories when “intestate succession” takes over. There is real property, which only consists of real estate and land; and there is personal property, which consists of anything else you own. All to be inherited by the family members who survive you.
The Probate Process in Rhode Island Inheritance Law
For estates with a valid will, the probate court is the entity that certifies all the decedent’s wishes, spelled out in a will, have been properly and accurately implemented. The probate court manages the execution of intestate succession laws in any intestate estate in Rhode Island. The process usually takes an average of 6 to 9 months. However – this projected timeline often pushes into 12, 18, 24 months or longer… should various issues intrude on the process? And they often do. The 6-month projection is accepted universally by most probate courts and attorneys in Rhode Island because the state of Rhode Island automatically grants creditors 6-months to recoup any debts owed by the estate. Yet registering as a “small estate” (estates with less than $15,000 in personal property) allows estates in Rhode Island to actually bypass probate altogether. Moreover, estates must allow 30 days to go by after the testator’s death – to register as a “small estate”, with the personal property under $15,000. However, the probate attorney and/or executor must be certain that the estate does not contain real estate of any kind. So you can see why it is so important to have an experienced attorney on board, if at all possible.
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