People get an Advance on Inheritance typically to pay off medical debts, to help a relative or friend, to get rid of credit card debt or some other high interest debt, to stop a foreclosure or to take care of an emergency, or simply to invest and/or save for retirement.

Why Get an Inheritance Advance, or Probate Advance? Frequently called an Inheritance Loan or Probate Loan.

Probate Timeline: See Where You Are in the Process... If You are Thinking About Getting an Advance on Your Inheritance

Why get an inheritance advance? What you might refer to as an inheritance loan, or probate loan... These days, many heirs opt for advance inheritance funding from an experienced inheritance funding company, with their primary focus usually on a large inheritance advance– typically probate loans or inheritance loans with the lowest rates possible… instead of waiting 12 to 18 months, or longer, for probate to close in order to receive inheritance money. Generally, an heir or beneficiary gets a loan on inheritance from one of the established inheritance advance companies, also referred to as an inheritance funding company or inheritance loan company, borrowing money against inheritance with an estate loan, inheritance loan or probate loan, for reasons usually involving personal finances, often to:

Cover the cost of settling the estate

The probate process can be moderately expensive. During probate heirs pay legal fees, by way of the estate, however in the end that comes out of the heir’s pocket anyway. There are also often estate debts, creditors; and there are frequently taxes… plus maintaining the estate, paying a small fee to an executor or administrator, paying a not so small fee to an attorney; and there are always funeral costs. An inheritance advance can help pay for some of these expenses.

Buy other heir's share of inherited real estate

Most heirs prefer cash when it comes to selling or not selling inherited probate real estate, although some heirs so opt to inherit an old house or some land... perhaps to sell off at a later date when values are higher. Frequently, an inheritance cash advance is used to purchase other heirs’ shares of inherited real property.

Pay off high interest debt

An inheritance advance, probate advance or estate advance can often be extremely helpful paying off debts such as medical bills, high-interest credit card debt, personal loans, perhaps an expensive reverse mortgage — debts that should be paid off as rapidly as possible to avoid assuming more high interest debt.

Insure help for living expenses during leaner times

Probate often can take 12, 18, 24 months or longer to close, and many people might do well to remember that they may need their advance inheritance funds from a probate advance, or inheritance advance, simply to get through a stretch of time when cash flow is tight. Getting an advance against inheritance from an inheritance funding company can, in the future, keep one afloat without turning to other forms of more expensive, more involved lending, with a more committed payback schedule. With probate advances, you’re basically borrowing from yourself by borrowing from an inheritance funding company, then paying the inheritance funding company back, with no compounding interest, no penalties or hidden fees, and no monthly payments.