Are you wishing you could get an advance on inheritance money coming to you once an estate settles so you can cover immediate expenses? Inheritance funding might be the solution. This form of financial assistance allows heirs to access a portion of their inheritance before the probate process is complete. At Probate Advance, we specialize in helping heirs unlock funds quickly without taking on a loan or additional debt.
In this guide, we’ll walk you through the steps to get an advance on your inheritance and explain how inheritance funding differs from a loan.
What Is an Advance on Inheritance?
An advance on inheritance is a type of inheritance funding, and it is not a loan. Essentially, you receive part of your inheritance now, in exchange for a portion of the estate you are entitled to eventually receive. This means there’s no need to worry about monthly payments or interest rates. The funds come directly from your inheritance, and once the estate settles, the funding company collects what they are owed.
Why Choose Inheritance Funding Over a Loan?
Unlike loans, which require repayment, credit checks, and sometimes high-interest rates, inheritance advances are structured differently:
- No debt: You are not borrowing money that needs to be repaid with interest.
- No credit check: Your credit score isn’t a factor in the decision to provide you with an advance.
- No monthly payments: You don’t need to worry about making payments over time—the funding company is reimbursed directly from the estate.
How Does Inheritance Funding Work?
If you’re interested in securing an advance on your inheritance, here’s a simple breakdown of the process:
1. Evaluate Your Inheritance
The first step is determining how much inheritance you’re entitled to. This could include cash, real estate, stocks, or other assets outlined in the deceased’s will or estate plan. The value of your inheritance is crucial because it impacts how much you can receive in advance.
2. Contact an Inheritance Funding Company
Reach out to a reputable company like Probate Advance, which specializes in inheritance funding. During the initial consultation, you’ll provide details about the estate, your relationship to the deceased, and your share of the inheritance.
3. Receive an Offer
The funding company will review and validate the estate information, to determine the ability to provide your funding in advance of your inheritance. Once approved, they will offer you funding. Typically, this is a percentage of your inheritance, often between 10% and 40%, depending on the size of the estate and how long probate is expected to take
4. Review and Sign the Agreement
If you agree to the terms, you’ll sign an agreement stating the amount funding the company will provide you in advance of your settlement, and the repayment terms for once the estate is settled. It’s important to carefully review the terms and conditions to understand your obligations and rights.
5. Receive Your Funds
After the agreement is signed, the money is typically provided within days—sometimes even within 24 hours. You can use these funds however you need, whether it’s to pay bills, cover legal fees, or handle other personal expenses.
6. Settlement of the Estate
Once probate is completed and the estate is settled, the funding company will receive their payment as outlined in the contract, directly from the inheritance proceeds. If the inheritance is less than expected, or you don’t get paid at all, you’re not responsible for making up the difference. The risk is on the funding company, not you.
Benefits of Getting an Advance on Inheritance
There are several advantages to seeking funding in advance of your inheritance rather than waiting for the probate process to conclude:
- Fast access to cash: Probate can take months, if not years, to finalize. With an advance, you can access funds within days.
- No out-of-pocket expenses: You’re not required to pay anything upfront. The funding is covered by your future inheritance.
- No financial risk: If the estate is smaller than anticipated, you won’t owe the funding company more than what was provided. If you don’t receive any proceeds, you don’t repay anything.
Is Funding in Advance of Inheritance Right for You?
While an inheritance advance offers quick access to funds, it’s important to assess your financial situation and weigh the benefits against the costs. Consider getting funding if:
- You need immediate financial relief for bills, debts, or investments.
- You don’t want to take out a loan and incur debt.
- You’re facing a long probate process and can’t wait for the inheritance.
How Probate Advance Can Help
At Probate Advance, we provide heirs with a hassle-free way to access their inheritance early. We understand that waiting for probate can be stressful, which is why we offer a fast, transparent, and reliable solution. Our goal is to help you get the funds you need, when you need them most—without the burden of debt.
Need more information or ready to get started with funding in advance of your inheritance? Contact Probate Advance today, and our team of experts will guide you through the process to unlock the funds you’re entitled to.
Securing an advance on inheritance can be a smart financial move for those who need quick access to cash without taking on the burden of a loan. It’s a straightforward and stress-free solution for heirs navigating the probate process. If you’re ready to explore your options, Probate Advance is here to help every step of the way.
