Are you an heir whose inheritance is delayed in a legal procedure? Or maybe you don’t have the money to even start the process of probate?
Whether you need a cash advance from an estate or through probate, you may want to consider a probate cash advance.
As an heir, we can provide you with a cash advance and walk you through the entire process. As probate experts, we can often have cash in your hands within 3 to 7 days!
We have helped people no matter the situation! Family members not agreeing? Stuck in legal issues? We can help!
It is next to impossible to get money directly out of the estate before the probate process is complete. The good news is that we offer probate cash advances to estate heirs depending on your situation.
One major benefit is that these cash advances don’t need to be repaid. There are many advantages to getting a cash advance of this type rather than a loan. Banks and traditional lenders charge an interest rate. They may require collateral in the form of a car or home. You also need a solid work history and a decent credit score to qualify. When you add up the interest you must pay, the risk of losing collateral and the possibility that you still may not qualify, standard loans just don’t compare to our streamlined probate cash advances.
If you are owed money from an estate, we can help! Need money quickly? We can usually get it to you within 3 to 7 days.
The Uniform Probate Code (UPC) was developed in 1969. It was developed to set more universal comprehensive standards in order to make the probate process simpler and fairer. It has been updated and amended many times through the years.
Even though most states have adopted some or all the terms of the UPC, we still have a long way to go to shorten and streamline this rather tedious process. Usually when someone dies in America, his or her assets have to go through some form of probate.
Probate is often a too complex, costly and time-consuming ordeal, which still varies state-to-state. Heirs may become frustrated waiting for their inheritance. There is a lack of transparency on exactly how this process works.
Probate is a process that is supervised by a court where a person’s assets are transferred to their heirs after death. When someone dies, their personal representative (PR), executor or estate administrator must inventory their assets, arrange for all debts to be paid off, and if necessary, file tax returns for the estate. The remaining assets are then supposed to be distributed, as the deceased persons “will” directs.
These activities are usually conducted by a person acting in a fiduciary capacity, either as executor, a personal representative or as a trustee. In most states anyone can be a personal representative.
This includes family members, friends or even a personal attorney. If the will doesn’t name an executor, probate will appoint one. Most often an heir is chosen by the probate court if someone is not named in the will.
Keep in mind that every estate is different, and the process still varies state-by-state. So even if you have an inheritance coming you may have a long time to wait.
If you are the rightful heir to any portion of someone’s estate, here are a few facts to help you understand your role in the probate and inheritance process:
• If you are an heir but have not been named as the personal representative (PR) of the estate your interests are not represented in the process. The person named in the will or chosen by probate court as the PR, Executor, Executrix or Administrator is the point of contact for all things related to the estate. If there is an estate attorney, they have no obligation to provide any information or even return your phone calls.
• The probate process is layered, and each step can take a lot of time. Usually the probate process is almost concluded before any assets are distributed. Estates are only closed when all debts and expenses are cleared by the executor. Tax clearances from the state and IRS must be obtained. And finally, all remaining assets are distributed. Simply put, you get your money last!
The probate process often takes 12 to 18 months, and in many cases can last 3 long years.
When a person’s estate enters probate, it will go through seven steps before the process is completed, including:
The probate process begins when you file a petition with the probate court. Notice is given to all heirs and beneficiaries. Notice is published in the newspaper.
A judge reviews the last will and testament to validate that probate process will continue.
The person named in the will as executor appears for confirmation. If no one has been named the judge appoints someone at this hearing.
Executor inventories assets including real property, bank holdings and accounts, stocks, bonds, property and business interests. All debts are compiled including funeral and estate expenses, and taxes. Notices are given to all known creditors and gives them the timeframe to respond (varies in state law).
After the response time has passed all legitimate debts claimed by creditors and final expenses are paid. During this time any disputes need to be cleared up. In some cases, the personal representative may even be permitted to sell certain estate assets to satisfy obligations.
Legal title to real estate and other assets are transferred to heirs named in the will. If the will directs that a trust be established funds are transferred to the care of the trustee.
Finally, the assets that are left will be named in a court order of Distribution and given to the heirs according to the decedent’s last will and testament. Heirs typically sign receipts to avoid future claims against the estate. All estate accounts are closed at this time.
Will – a legal document that outlines a person’s wishes of what should be done with their money and property after death.
Living Trust – is an agreement forming a trust which designates a trustee to fulfil a persons’ wishes regarding their assets, dependents and property. These assets are “in trust” while the person is still living and distributed after death
Testator – the person who has made the will is said to be “testate”
Personal Representative/Executor/Fiduciary – the person named to carry out the instructions of the will. One or more individuals, or an institution, like a bank or trust company can serve in this role
Beneficiary -a person or group that receives assets or inheritance from the deceased
Bequest – the gift of personal property from the testator to be given to the beneficiary after death
Codicil – a written amendment to a will
Intestate – when a person dies without a will or living trust
Trust – an entity or fiduciary that holds money, property or other assets to be given later.
Estate – All assets, property, and wealth (both real and personal) that are left when someone dies to be disposed of as their “Last Will and Testament” directs
Heir – person who by law or the terms of a will is entitled to inherit some or all of the estate of another.
