Montana Probate Laws, Important Timelines and Early Distribution Resources
If you are stuck in probate then there are solutions for you to receive your inheritance funding immediately without having to wait for the final distribution of a lengthy probate process. Probate advances can be a useful source of liquidity in Montana and are commonly used when an heir or beneficiary has recently entered into probate after a loved one has passed away. If it isn’t difficult enough that a loved one has passed away, entering the probate process can be confusing and take a long time.The probate process is not easy, even if you have a lawyer, lots of delays can occur. Probate inMontana can take anywhere from 18 to 24 months and sometimes longer. Now you have legal responsibilities to handle while grieving your loved one, planning a funeral, and burying them.The probate process is not required in Montana if the decedent has set up a trust (or family trust) which in most cases helps their estate to avoid probate. However, if those trusts or plans were not made, the only way estate assets can be distributed in Montana is through the probate. There are extreme cases where an estate will still need to pass through probate even if the decedent had a trust in place.
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How long does probate take in Montana?
In non-pandemic times, the probate assets (personal property) within an estate in Montana can take anywhere from 9 months to 3 years to be distributed from the decedents estate. There are different variables including the following:
- Size of the estate which dictates how long an inventory of assets will take
- The amount of beneficiaries in the estate
- How fast the executor of the estate can push the process along
- If the will is contested
- Probate Court Timelines
Probate proceedings take a long time. In addition, courts have been forced to go remote as a result of the pandemic, and thus have been slowed down as a result. There have been many articles recently published on the delay in the court system which has caused a lot of anguish to estate heirs. You cannot distribute any assets to heirs until the estate goes through the legal process of probate. Doing so before the probate is closed can lead to legal issues for the executor and cause headaches for everyone involved. In this article we go over laws specific to Montana as well as ways that you can receive your inheritance cash now.
Don't Wait for Probate
Estate And Inheritance Tax Laws
Montana does not have an estate tax or inheritance tax. When you go through probate administration it’s important to keep in mind the specific state laws for taxes and seek legal advice. There are 38 states in the country that do not have an estate tax in place. These are the different tax laws by state.
If the deceased person’s assets are not set up with an estate plan for intestate succession the estate will have to go through probate and you will have to pay taxes.
States with an estate tax:
- New York
- Rhode Island
- Washington (state)
Estate and Inheritance Tax
Get An Inheritance Cash Advance Now
Life can be tough enough without worrying about how you will pay your bills when someone dies and you are waiting for final probate distribution. An inheritance advance is another name for a probate cash advance and it is a financial tool that can be used for heirs to receive money while they are waiting in the probate court process. An inheritance cash advance is the sale of a portion of your future inheritance. You get the money immediately and can use it however you want. As the funding company, we wait for the probate process to conclude and then we receive our agreed-upon sum back. A probate advance is a very straightforward transaction that does not require interest. A probate advance is different from a probate loan because inheritance loans are backed by assets and require monthly interest payments.
The advantages of an inheritance cash advance in Montana include:
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What is the probate process like in Montana
The probate process in Montana is not like a TV commercial or a TV sitcom where, somebody passes away and within 30 minutes, you meet with the lawyer, and the families are all around the table. The probate process in Montana has been slowed down as a result of covid and remote court proceedings. That means that probate doesn’t just play out where the lawyer goes ahead and reads a will, and everybody walks out with their money. That’s the TV version. The real-life version is hard, and it’s tough and it takes a long time. Family members sometimes need more guidance and many times they need money before probate concludes. Sometimes they need money to help them deal with things like funeral costs and other expenses that come up.
How do family members deal with probate in Montana
Many times family members don’t expect to have to take the house and deal with repairs and taxes on the real estate after they inherit it. Unfortunately, the property taxes need to be paid, and the home usually needs to be kept up. The mortgage on the inherited home will also need to be paid. The property taxes, mortgage payment, and repairs had to be taken care of which can be unexpected for the family. Many family members involved in Montana probate cases don’t know how to deal with these issues which can occur during probate.
Customers have real-life needs that require financial assistance that come up every day during probate. They have real-life needs that come up every single day. A request we see consistently is keeping up with the house, some beneficiaries don’t even have money to bury their loved ones. There was no money upfront and everything has to be liquidated in that circumstance.
Don't Wait for Probate
Probate Loan vs Probate Advance In Montana
If you are stuck in the process of probate in Montana you might have thought about borrowing against your estate or getting a mortgage on a property in probate. This is commonly referred to as an estate loan, traditional bank loan or probate loan. It’s important to understand the difference between probate loans in Montana and an advance on your inheritance money. Inheritance advances are a much simpler process when compared to a probate loan because you don’t have the traditional requirements of a bank loan with credit checks and repayment terms on assets.
When you apply for a probate loan, you need to go through the traditional loan application process. It can be time consuming and difficult because of credit requirements and a lengthy application to be completed either online or with a representative at the bank. Thus, like probate, there can be no end in sight for many heirs.
How long does probate take in Montana
And so all of these things are happening in probate. And not to mention the fact that here we are in 2020 and 2021 where COVID threw another monkey wrench into it. How long probate takes can be a concerning question for Floridians during normal times, where the average is 6 to 24 months but as a result of covid-19, probate can take anywhere from 9 months to 36 months. Heirs and beneficiaries anticipate getting the money that their loved one left behind for them as it was intended to happen but now it takes longer. Unfortunately, because of this really difficult process and all the things that come up during it, things don’t always work out that way.
Probate Advance in Montana
We started Inheritance Advanced to focus on customers and helping them solve their financial needs because we understand. Sometimes people come in and their kids are off to college or they’re about to go to college and they need the funds or the roof over their head needs to be replaced or all these other things that come up like you are living in the property and with the deceased.
We have provided cash advances in the probate process that live in the following cities:
Don't Wait for Probate
Probate Loan In Montana
So many people have asked me, what’s the difference between an advance and a loan? There are many different inheritance funding options but the answer is simple. We’ll start by talking about what a probate loan is. A probate loan is the same thing as an estate loan, inheritance loan or personal loan. Here are the attributes of a probate loan:
- A probate loan actually requires a lien or an asset that backs the loan in order for it to be underwritten and granted
- A probate loan has a term of 15 or 30 months.
- A personal loan is usually anywhere from, two years to five years, it could be an auto loan, home loan or personal loan
- Full Review of job history
- Inheritance loans require a credit check
- All probate loans require that whoever is giving you the loan, the bank or whatever financial institution that a credit check be completed before issuing the loan.
Banks require credit checks on probate loans to ensure that there is the actual ability for repayment, which includes good credit. The bank will also look at the job history because without a consistent income it would be difficult to repay them back. Additionally, they’re also going to look at the income level that you’re making to make sure that the money that you have with all the bills that you might have in your life, that you’re still able to have enough income freed up, that you can make that monthly payment.
Inheritance Advances Are Different From Probate Loans
A probate advance or inheritance advance are the same thing and they constitute a purchase of the heir’s beneficial interest inside the estate. An example of a probate loan is let’s say you were getting $100,000 because you are one of two heirs and the property sold. And after all expenses, the total estate was 200,000. And out of the two heirs, you got half, which is 100,000, which means your share is $100,000 in the estate, so we would give you an advance on a portion of your $100,000.
We have the ability to give you an advance on your inheritance where we actually purchase part of your shares. So unlike a loan, we’re actually purchasing beneficial interest, part of your share in the estate. A probate advance or inheritance advance doesn’t require a credit check, income check, or job history, because the truth is, everything is already there. The only thing that we’re checking on is what the value of the estate truly is and what the assets are worth.
Probate Advance Calculator For Montana Residents
How to avoid probate in Montana
- Hire a good estate planning attorney
- Open bank accounts and designate heirs as beneficiaries of the accounts
- Add a ‘transfer on death’ deed to any real estate you own
- Create a revocable living trust
- Make sure any real property is owned with tenants by entirety or has a beneficiary.
Montana Probate Questions
Here are some helpful resources to utilize when you enter into the probate process in Montana due to a loved one’s death and it can help you answer more questions about probate:
Probate Code And Montana Law Resources:
You can find the government probate resources here:https://www.nolo.com/legal-encyclopedia/montana-probate-shortcuts-32084.html https://scholarship.law.umt.edu/cgi/viewcontent.cgi?article=1650&context=mlr https://courts.mt.gov/Forms/endlife#69774127-statuteshttps://courts.mt.gov/courts/dcourt
Do You Regularly Help Montana Residents?Yes, we’ve helped people from the following counties in Montana with Inheritance Advanced. Yellowstone County Missoula County Gallatin County Flathead County
Contact Inheritance Advanced to Receive Your Inheritance Money In Montana Now
If you are entering into the probate process in Montana and you need cash immediately, inheritance advanced is here for you. Inheritance Advanced has worked with more than 1,700 satisfied clients across the country. We have helped them obtain money to pay for the funeral, burial, medical bills, credit card debt, and everyday expenses instead of waiting for the probate process to complete.
Our experienced team is compassionate, caring, and understanding. We know how difficult it is to wait for probate, that is why we give you your funds now and wait for probate ourselves, so you don’t have to.