- What
is an inheritance advance?
It is a cash advance made available to an heir or beneficiary of an
estate after the estate has gone into probate and has been assigned a
case number, but before an estate has been settled. It is not a loan.
- Do you advance on inheritances from estates
outside the United States?
No. We only advance on estates that originate within the 50 United
States. Estates from U.S. territories and possessions as well as
other countries do not
qualify for an inheritance advance.
- What
can I use the inheritance cash advance
for?
The advance can be used for any purpose by the heir or beneficiary.
- How
much can I get as an advance
on my inheritance?
You can receive up to 30 percent of your expected
inheritance as an advance. The minimum advance is $5000 and the
maximum is $100,000. Your expected inheritance must be at least
$17,000 for a cash inheritance or at least $20,000 for a real estate
inheritance to qualify for the minimum advance.
- How
soon can I get my
advance?
You can have your advance within 7 business days after you
contact
us.
- How
much will the advance cost?
Every situation is different so we cannot tell you the cost until we
review the details of your estate. The size and complexity of the
estate, and the estimated time to settle the estate are key factors in
determining the cost.
- Can I get a discount on the fees if the
estate settles sooner than expected?
Possibly. It may be possible to reduce the fee charged if the
estate settles sooner than expected. For details, please discuss
this possibility with one of our underwriters.
- Do
I have to make payments on my
advance while I am waiting for my inheritance?
No. You are receiving an advance and not a loan. There are
no monthly payments. You will repay an agreed upon amount
from your inheritance when you receive it. The payment is made by
agreeing to "assign" the agreed upon amount from your inheritance
when it is distributed.
- Are
there any "up-front" fees?
There are no fees to find out if you qualify for an inheritance
advance. If you decide to get an advance, a fee will be
deducted from your advance to pay costs incurred in the cash advance
process.
- What
happens if there are
less funds in my actual inheritance than I agreed to repay for the
advance?
As long as the heir or beneficiary gave true information on the
application and abides by the assignment agreement they should have no
personal liability for the unpaid portion of the agreed
assignment amount for the advance.
- What
happens if the estate takes
longer to settle than expected?
The amount you agreed to repay does not change even if the estate
takes longer to settle than expected.
- Can
trust beneficiaries also get
advances?
It may be possible for a trust beneficiary to get an advance under the
following conditions.
- The trust document must not limit the ability of
the
beneficiary to assign an interest in future trust distributions
(usually referred to as a "spendthrift" clause").
- The trust must be distributing within the next 3 years.
- Is
there a problem if the estate
is being settled in a state different than which I live?
This usually is not a problem.
- How
does my credit affect my
ability to get an advance?
It depends. Late payments, a discharged bankruptcy, or a previous
foreclosure will probably not affect your ability to get an
advance. However, an outstanding judgment, child
support, or bankruptcy proceeding which might interfere with your
ability to assign part of your inheritance could affect your ability to
get an inheritance advance.
- What
happens if an unknown
creditor makes a claim on the estate?
When this happens it can affect the amount available to repay the
agreed upon "assignment" amount for the advance. This
sometimes happens with medical claims from a final illness. If
this leads to a situation where there are insufficient inheritance
proceeds to repay the agreed upon "assignment" amount, then
the heir or beneficiary will not be liable for the difference unless
they withheld this information when making the application for the
advance.
- Can
I get
an advance if there
was no will?
When a
person dies without a will (also known
as "intestate") the laws of the state in which the person died
determine what happens with the estate. The attorney handling the
estate should be consulted to determine if you are entitled to any of
the estate under the laws of the state involved.
If you have additional
questions, or if you would like to start the
process to get an inheritance advance, please
click here to contact us.
Call us now at 1-800-598-1178
to get started.
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