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Can I Get a Loan on my Inheritance?

Can I Get a Loan on my Inheritance?

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Are you stuck waiting for your inheritance because it’s stuck in probate?

We know.. The probate process can take a long time… Sometimes it feels like there is no end in sight.

Dealing with creditors, other beneficiaries, probate courts and more.. It’s not fun.

After all, the inheritance is yours and if you’re like many people, there are things you need to use that money for.

Many people find themselves in this situation. So what can you do about it?

The first thing many people do is perform the same search as you to learn more about inheritance loans..

Luckily, you aren’t alone and different forms of inheritance loans DO EXIST. In fact, not only do inheritance loans exist, but you’ll probably be excited to learn that you have lots of different options and ways to receive inheritance funding immediately.

Table of Contents

All You Need to Know About Inheritance Loans

Inheritance Loan

Receiving an inheritance loan can help make sure that you have financial stability until your estate is settled by the court. The problem is that most traditional banks do not offer inheritance loans because they have to be backed by an asset.

Since the assets of the estate (like real estate) will not be officially transferred (aka the deed is not in your name) until the probate process concludes, banks don’t like to take that risk.

Furthermore, it takes a lot of time. You will need to endure credit checks, underwriting, and all the traditional bank rules that come with receiving a loan. Then you’ll have to make payments on that loan, similar to a real estate mortgage with interest.

There is another way to receive your inheritance faster which is similar to a cash advance. Cash advances on inheritance are much easier to maintain and happen much faster without all of the red tape. Since inheritance loans (probate loans) are difficult to receive, many beneficiaries opt to receive their inheritance through the form of an advance on inheritance.

The reason for this is that any real estate in the estate isn’t in your name yet. You won’t be able to put it up for equity when applying for an inheritance loan from a traditional lender. That’s why inheritance cash advance companies exist. These companies are built to help beneficiaries of estates acquire an inheritance cash advance so they can have financial independence.

Applying for an inheritance advance is a simple and easy way to receive your inheritance funds.

Am I Eligible For An Estate Loan?

Determining eligibility for an inheritance advance is much easier than seeing if you qualify for an inheritance loan. You have to prove that you are a beneficiary of the estate and go through initial documentation. After that, you basically just have to agree on how much money you want. After that, you sign over that portion of your inheritance to us and tell us where you want us to send the money.

Once you prove that you are a ligament heir, you can receive your funds within 24 hours.

The amount of money you receive from an estate inheritance advance company is often a percentage of the total amount you are due to inherit. You can receive lots of money through advance inheritance funding and we wait for the probate process to finish so that you don’t haveto.

If this sounds like something that might work for you. Just fill out the inheritance form on our contact page and one of our representatives will be in touch with you immediately.

Is It Possible to Gain Access to Money Quicker Via Inheritance Funding?

Inheritance Funding

Since the process can take upwards of one year to complete, many beneficiaries often ask their attorney if they can gain access to money quicker instead of waiting months or even years for it. The attorney will advise most clients that there are options for funding at a low interest rate via an inheritance loan or an inheritance advance.

Beneficiaries of an estate can apply for an inheritance advance, inheritance loans, an inheritance cash advance, or any other type of advance on your inheritance in an effort to obtain money quicker. You can get your inheritance well before probate ends and the estate is settled.

Should you go this route, you can apply for an inheritance cash advance, a probate advance, or a probate loan and learn of approval or denial in a matter of hours. If you are approved, the portion of your inheritance can be deposited into your bank account within a matter of days by the inheritance funding company. Inheritance advances do not need to be repaid so long as they are not a traditional inheritance loan.

In order to obtain inheritance advances, you will still need to complete an application. The probate advance application can be completed online and submitted to the funding company. Inheritance cash can then be used for anything you deem necessary. An advance inheritance approval means you can receive your inheritance within a few days even if the estate has not yet been settled by the court.

How Much Does an Inheritance Advance Cost?

The cost of the inheritance advance will vary based on a few different factors. The amount you will need to pay in order to obtain an advance will depend on the guidelines of the lending firm. If you are dealing with a traditional lender, you will be subjected to a high interest rate and a credit check.

The companies that decide not to charge interest will instead charge a fee that must be paid upfront that helps cover their risk of lending you the money. If interest is involved, you will need to find out how much will be required based on the possible length of probate.

Some of the factors that play a role in how much an advance will cost include the following:

  • Complications that can occur during probate
  • The risk of the inheritance
  • The creditors who are involved
  • The taxes that are due
  • The amount of time it will take to close the estate

The lending company will work hand-in-hand with an attorney, the executor, administrators, and anyone else involved in probate to come to a determination about the financial inheritance you might receive. This discussion will help the lender determining the financial cost of the advance for the heir to the estate.

Receiving and Spending Inheritance Cash

It will take anywhere from 24 hours to a couple of days for the money to appear in your account if you are approved for one of these advances. The best part about this type of advance is that you can use the money however you see fit. If you want to pay down some of your debt, you can do so. If you want to go on a vacation, you can do that too. You can buy a new car, purchase real estate, and do just about anything else you desire with the cash.

Another benefit of an inheritance advance is that you do not need to worry about any of the paperwork associated with the payback aspect of a traditional inheritance loan. This often happens once the estate is settled by the court. The money will go directly to inheritance advanced instead of you and you don’t have to worry about making money loan payments to a lender.

Don't Wait For Probate

What About an Inheritance Advance?

Every inheritance advance company is different from the next one. There are some that charge interest rates. There are some that have a litany of requirements you must meet in order to be approved for the inheritance funding. Then, there are others that don’t charge interest, don’t require your credit score, and have no other requirements that the lender must follow in order to receive the inheritance advance. We make the process as simple as possible. You can think of your inheritance funding as making a sale of your inheritance in return for a cash advance. You sell your inheritance and we wait for the probate process to conclude so that you don’t have to. That’s why we are the best inheritance cash advance company.

When applying for an inheritance advance, it is important to know how much of the estate you are being left by the decedent. It will help us as the inheritance funding company to determine how much money we can send to you.

Reasons why people request an advance from the estate include the following:

  • Debt incurred while serving as a caregiver for the decedent
  • To pay for the funeral and burial of the decedent
  • You need help paying for your living expenses and other monthly payments

Be sure to check the fine print before signing on the dotted line. You will want to make sure that your credit history is not going to be accessed as part of the approval process and that there are no hidden fees associated with the estate money advance. Many of these estate inheritance advance companies offer a free quote to potential borrowers.

When researching inheritance advance companies, it is best to review all of the following:

It’s also important to find out if these companies are permitted to do business in the state where you live. You don’t want to get through the application process only to be denied because the company is not allowed to lend inheritance money to heirs in your state. Also, find out if the company is permitted to operate in multiple states. This is important if you live in one state and probate is occurring in another state. At Inheritance Advanced, we don’t have any of those issues since we are not providing traditional loans.

Understanding the Process of Probate

Before you can look into probate loans or a cash advance, it’s important that you have an understanding of how the process of probate works where you live. Probate is different from state to state, which means that not every estate will be required to go through the process. However, a large number of estates will need to enter probate in order to pass assets down to beneficiaries after all of the creditors of the estate have been paid.

The executor of the estate is required to file a petition for probate with the court where the decedent lived. The petition cannot be filed where the heirs live or where the decedent owned vacation real estate. Instead, it must be filed with the county court where the decedent had their primary residence. Once the petition is filed, the probate process officially begins.

Even though there are different statutes governing probate from state to state, there are some similar aspects that must be followed no matter where the process is taking place. Those aspects include the following:

  • Every asset of the estate must be discovered and record
  • Every asset must be assigned a fair value
  • All creditors must be paid
  • Estate taxes must be paid according to state and federal laws
  • Heirs and beneficiaries are paid their inheritance based on the will or the judgment of the court

Probate can last anywhere from a couple of months to more than one year. Very rarely does probate end quickly. It can take even longer to complete when someone contests the will, which means they have an issue with an item in the will or who was named the executor of the estate.

When a will is contested during the legal process, the heirs do not have access to any of their inheritance money. They also won’t have access to the bank account associated with the estate unless they were named the executor by the decedent or the probate court.

 

Apply for an Inheritance Advance Today

If you are an heir to an estate that has entered probate and you need cash to pay the bills, get out of debt, or for any other reason, it’s time to apply for an inheritance advance. The experienced and compassionate team at Inheritance Advanced is here to help you obtain the cash you need. We have helped clients throughout the country acquire the money they need to make ends meet while waiting for probate to settle.

Call our office at (866) 510-2576 to speak with a member of our team today. We can help you acquire the funds you need with little fees so you can get rid of debt, pay the bills, or handle medical expenses accordingly. Our phone number is a great way to receive prompt and personal service from a member of our team.

Legal Disclaimer: Please note that Inheritance Advanced is not a lender. Inheritance advance does not provide probate loans, inheritance loans, or estate loans, rather, an advance on a portion of proceeds signed over to Inheritance Advanced. Inheritance Advanced is also not a probate attorney and any information in this article should not be misconstrued as legal advice. We recommend that you seek the advice of an attorney, CPA, and tax attorney regarding any decisions pertaining to your probate.

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Get Your Inheritance Money Now!

Our Inheritance Cash Advances help heirs receive a portion of their inheritance payout in just a few days. We then wait and are paid directly out of your share when the estate finally closes. We wait for probate so that you don’t have to. Click below and fill out our short form to receive an advance immediately.

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