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20 08 2008

Cash Advanced Probate Funding

Posted by: Eric Hundin in , Estates, Wills, Trusts, Career Information, Blog Carnival

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If you an heir to an estate that is sitting in probate, you may be feeling frustrated that the inheritance is being slowed down by the legal system. By law probate is a very slow and deliberate process that usually takes over a year to complete.

As the heir, you may have been hoping that the inheritance would solve your financial problems, you may be facing overdue bills and various financial crises. If you are the Executor you may be frustrated by trying to settle the Estate and make all the heirs happy. A difficult task for anyone to undertake.

The problem with Probate is that it can be lengthy and confusing. If you have never gone through it before, you may be surprised to find that it will take a year or longer for the probate court to distribute your inheritance.

The reason for Probate is to:

  • Prove the existence of a valid will
  • Determine who will receive the deceased ’s property if there is no will
  • Determine what taxes, if any, are owed on the estate
  • Determine what creditors, if any, are owed on the estate

When an Estate is in probate, the heirs do not receive their inheritance until:

  • The assets are liquidated
  • The creditors’ claims are satisfied
  • The estate taxes are paid (the most common reason for delay of Probate)

Only when these are in order can the estate be approved for distribution by the probate court. The liquidation process can be especially difficult during a downturn in the economy or in a slow moving market.

If you are an heir to a probate estate, you may be able to receive a cash advance, anywhere from $5,000 to $100,000, for your future inheritance. Probate cash advances usually provide cash within 5 business days, are not a loan and do not incur an interest rate or a payment schedule of any kind. Since this is not a loan but an assignment, it advances you inheritance money today in exchange for a set amount further down the road.

The criteria for the advance is that you are are waiting on an inheritance of at least $17,000, the inheritance is currently in probate (or in the process of being opened) with an attorney involved, and you are interested in getting a cash advance on your inheritance.

Lynn Thomas is a freelance writer, author and entrepreneur.

http://www.HeirEstate.com

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This entry was posted on Wednesday, August 20th, 2008 at 9:55 am and is filed under , Estates, Wills, Trusts, Career Information, Blog Carnival. You can follow any responses to this entry through the RSS 2.0 feed. You can leave a response, or trackback from your own site.

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