Another Probate Tool for Lawyers:
If you practice probate law, you and your office staff already know that managing your client’s expectations is often more challenging than the probate itself. Not only are you frequently working with an impatient (and sometimes unorganized) personal representative who is anxious to receive her inheritance, but your office is also fielding frequent communications from the other beneficiaries of the estate who are desperate for information and receiving their respective inheritances.
ProbateCash knows that lawyers cannot control the court schedule, creditor’s claims, sale of assets, and other factors contributing to probate taking many months or more to close. Your client and beneficiaries of the Estate are probably experiencing the probate process for the first time. Those beneficiaries probably anticipated receiving their inheritance shortly after the passing of the decedent (after all, that’s how it’s portrayed in the movies). When the reality of the probate process sets in, however, those beneficiaries with imminent financial needs are hurting.
I’m a lawyer admitted in Florida and a member of the Florida Bar’s Real Estate, Probate and Trust Law Section. I understand the real financial needs of clients and beneficiaries of estates and also empathize with the lawyers trying to move the probate process through the courts so estate assets can be distributed.
We started ProbateCash to bridge the financial gap between the time the decedent passes away to the time the probate case concludes and beneficiaries receive their inheritance. ProbateCash provides non-recourse advances to beneficiaries of estates who have their inheritance tied up in probate. We have made the advance process simple for your office and the beneficiaries.
Here’s how it works: Beneficiaries of estates who need an advance against their anticipated inheritance can often receive such an advance within one business day of completing a short application. ProbateCash purchases only a portion of the beneficiary’s inheritance. We find it helpful to keep the beneficiaries engaged in seeing the probate process conclude. In exchange for the upfront advance, the beneficiary assigns a portion of her inheritance to ProbateCash. The inheritance assignment is filed with the probate court so the personal representative knows to pay ProbateCash that assignment amount at the time the estate assets are distributed.
ProbateCash enters into the contract and assignment with ONLY the beneficiary receiving the advance. Neither the personal representative, the other beneficiaries or the probate case is adversely affected as a result of the advance. Furthermore, ProbateCash does not rely on any information provided by your law office so your office will have no legal liability as it relates to the inheritance advance.
The advances ProbateCash provides help beneficiaries with their essential financial needs during the probate process. But ProbateCash advances also help the Estate. When beneficiaries are desperate to receive cash, there’s often pressure to sell the estate assets, including real property, for much less than market value. An advance from ProbateCash can be used by the Estate to prepare real property for sale to obtain a fair market value that will benefit all of the estate beneficiaries. Likewise, advances to beneficiaries actually buy the needed time to ensure estate assets receive a fair price when being sold.
Finally, our advances are non-recourse to the beneficiaries (absent fraud or material breach of contract). For instance, if creditor claims reduce or eliminate a beneficiary’s inheritance, ProbateCash will not receive its assigned amount, and neither the beneficiary, personal representative, nor any other party will be legally liable.
The next time anxious heirs contact your office asking for (demanding) their inheritance, send them to ProbateCash. An advance from ProbateCash will ease the beneficiary’s financial needs and make your phone stop ringing so you can focus on the probate case. There’s no liability to your office, and you can be involved as much (or not at all) in the inheritance advance process as possible from ProbateCash.
Please don’t hesitate to contact my office directly at 561-476-0018 or email me at marc@probatecash.com.
Potential clients cannot afford to pay your retainer. Don’t give up the case. If the estate has real property to sell (even if homesteaded), ProbateCash can advance money for the purpose of paying your retainer.
