Probate on an estate can take upwards of a year or even more if the estate is contested. This means you could be left without access to your inheritance for months or years while bills start to build up.
Inheritance Advances vs Inheritance Loans
With an inheritance loan, you typically have to have good credit and typically have to get it from a traditional lender. Repayment of this inheritance loan can begin before probate ends if the process is delayed.
An inheritance funding advance provides a payment in exchange for a portion of the inheritance. A fee is charged to provide the advance as well and the payment is due once the estate gets out of probate. The amount is based on what portion of the estate you’re entitled to based on the estate’s value.
Inheritance Advance Process
An inheritance or probate advance is typically a straightforward process and many companies provide an online application option to simplify the paperwork. You provide information showing that you’re a beneficiary of the estate along with financial information about the estate to determine what your final portion is. Fees for the advance depend on the amount given to you along with how long the estate takes to finalize. This fee can vary depending on the state. Typically, a company will offer to purchase a percentage of your anticipated inheritance with some offering to purchase up to 1/3 of your inheritance. You don’t directly pay back the company since they will get their money back from the estate once it closes.
Contact the team at My Inheritance Cash to learn more and get the inheritance funding process started.
