Ever wonder what exactly ProbateCash does? How heirs can access cash while they wait for probate to close? How a ProbateCash advance could help your client?

Marc Harris, Esq. answers these questions and more in ProbateCash’s Townhall Ask the Expert Series.

Key Takeaways

• ProbateCash inheritance advances are not life insurance transactions, senior settlements, or remainder-interest purchases involving living individuals.
• ProbateCash generally does not buy out an heir’s full inheritance; advances are structured to provide interim cash while keeping beneficiaries motivated to complete probate.
• Inheritance advances are not loans: no fixed due date, no monthly payments, no interest rate, and typically no personal liability if the estate is insolvent or pays less than expected.
• ProbateCash files an assignment of inheritance with the probate court, creating transparency for the judge, estate counsel, and fiduciaries.
• California Probate Code § 11604.5 is the key statute governing inheritance assignments in California; ProbateCash follows its disclosures and consumer safeguards broadly in other states.
• ProbateCash evaluates advances based on inheritance value, estate assets, and risk factors (including cases involving litigation or settlement).
• Advances may be repaid early with no prepayment penalty; repayment timing can depend on estate distribution or how settlement proceeds are handled.
• ProbateCash can support cases where a client can’t pay a retainer upfront, provided there are estate assets likely to flow through probate.
• Probate professionals generally are not liable for simply discussing or referring ProbateCash, and ProbateCash may offer indemnity in certain situations.
• ProbateCash can work with trust situations, typically requiring trustee awareness and cooperation due to trust provisions.

Full Webinar Transcript

Molly Driscoll:
Welcome, and thanks for joining today’s session, ProbateCash Town Hall: Ask the Experts, a webinar brought to you by Probate Cash.

Today is really about you and your questions. If you have a question, please type it into the chat window. Your question will be seen by the presenters but not by other attendees. If your question is case-specific or confidential, let us know. Instead of addressing it here, someone will contact you later.

Our presenter today is a professional with extensive experience in providing cash advances to individuals awaiting inheritance payouts. Marc Harris is an attorney admitted to the Florida Bar and the Southern District of Florida. He is also a member of the Florida Bar’s Real Property, Probate, and Trust Law Section.

Marc has worked in the specialty finance industry for 25 years and has been involved in purchasing over one hundred million dollars of assets. Many of those purchases required court hearings, and Marc has attended or appeared as counsel in many of them. As CEO of Probate Cash, Marc is spearheading a relatively new industry of purchasing interests in actively pending inheritance claims from estates or trusts.

Marc Harris:
Good afternoon, everyone. I’m glad there are a lot of people here.

Before we get into questions, I want to briefly explain what an inheritance advance is not.

We are not talking about interests in life insurance or property owned by someone still living. We are not talking about senior settlements or purchasing remainder interests in real property. Those are different businesses and not what we’re discussing today.

Second, these transactions are not intended to buy out an heir’s entire position or interest. The goal is to provide interim cash to meet current needs while still keeping the heir engaged and motivated to see the estate wind up and distribute.

Finally, this is not a loan. There is no fixed due date, no interim payments of principal or interest, no stated interest rate—fixed or variable—and no personal liability on the part of the recipient if the estate turns out to be insolvent or if the proceeds distributed to the recipient are less than originally anticipated.

The only situation where we would have a claim against a recipient is if the estate pays out, the recipient receives their inheritance, and then refuses to pay us. That is theft, and we will pursue repayment. If someone lied about who they were or their relationship to the estate, that’s fraud and we will also pursue repayment.

But if property sales are disappointing, outstanding debt consumes proceeds, or probate takes years longer than expected, that is our risk.

Molly Driscoll:
Michael asked: if there was no will initially, but later a will is found and submitted, can that affect the situation?

Marc Harris:
Thanks, Michael.

If a person passed away intestate and later a will is discovered, that can affect who the beneficiaries are and what their shares will be. That would impact both who is entitled to receive an inheritance and how much of an advance we could provide based on their share.

If I misunderstood the question, feel free to clarify in the chat.

Molly Driscoll:
We have a question from Joel in California. He wants to know the minimum and maximum amounts and interest rates.

Marc Harris:
It’s not a loan, so there is no interest rate. We charge fees.

Fees are typically charged every 90 days, with a cap after about a year.

Since you’re in California, California is the one state with a statute directly on inheritance assignments. It’s California Probate Code § 11604.5.

That statute includes consumer protections, including requirements for disclosures and formatting in contracts. It does not set a strict maximum fee; instead, it relies on an unconscionability standard. Probate courts in California have reviewed these transactions, and there have been challenges over fees, but courts recognize the non-recourse nature of advances and the risk involved, especially when advances occur early in the process.

Even though California is the only state with a statute specifically on inheritance assignments, we follow the spirit of that law in every other state. We use the same disclosures and file the assignment with the court so the probate judge and estate counsel know about the transaction. We operate with full transparency.

Molly Driscoll:
We have two questions from Jeffrey in Illinois. The first is about referral fee agreements in personal injury cases that flow into an estate.

Marc Harris:
Thanks, Jeffrey.

A referral fee agreement between attorneys generally doesn’t affect our ability to make an advance. What matters to us is the amount of assets that will flow through the estate and what beneficiaries are entitled to receive.

If there’s a personal injury settlement or verdict, then yes, portions may not flow into the estate depending on attorney fees and other deductions. That would affect the net amount going into the estate, which affects each beneficiary’s share and therefore affects the amount we would be willing to advance.

Our goal is still to ensure beneficiaries have skin in the game. If someone expects a $100,000 inheritance, we are not advancing close to that amount. We want them motivated to cooperate and complete the estate process.

Molly Driscoll:
Jeffrey’s second question asks what other advantages there are to using ProbateCash in settling an estate.

Marc Harris:
Beyond simply wanting money sooner, there are practical reasons.

Often, the main estate asset is a home that will be sold. Many times the home isn’t ready to sell and needs repairs.

We often provide advances so beneficiaries can fix up the home. Repairs can increase the eventual sale price significantly. Making sure back taxes and other property-related debts are handled can also protect value.

In those situations, the benefit extends beyond one beneficiary. It can help maximize estate value for everyone.

Molly Driscoll:
Ben in Alabama asks: do all heirs need to apply, or can one apply? And do other heirs need to know?

Marc Harris:
Only the beneficiary who wants an advance needs to apply. We enter into a contract with that one beneficiary.

An advance to one beneficiary does not adversely affect other beneficiaries and should not affect the timing of distributions.

Because we file an assignment of inheritance with the court, other parties may see it in the record. But the key point is that if there’s a shortfall—say someone owes us $50,000 but their distribution is only $40,000—then we take the $40,000 and the $10,000 shortfall is our risk. It is not the responsibility of other beneficiaries.

Molly Driscoll:
Deborah in Nevada asks: if I have a client who would benefit, what’s the best way to get the info to you?

Marc Harris:
The simplest way is to call or email so we can quickly understand the situation and move the process forward.

Molly Driscoll:
Ryan and Brian in New York ask: providing cooperation can take time—will ProbateCash reimburse me for my time?

Marc Harris:
That’s a fair question. As a lawyer, I know we’re selling time.

We’re willing to pay up to an hour of your time for working with us, especially when your input helps confirm details we can’t see in court filings.

Also, the more we know through counsel or fiduciaries, the better we understand risk. Since our fees reflect risk, better clarity can sometimes help us adjust fees accordingly.

Molly Driscoll:
Joseph in Missouri asks: how do you handle repayment, and what is the timeline for closing?

Marc Harris:
Beneficiaries can repay us at any time. They don’t have to wait until the estate closes.

There are no prepayment penalties. In fact, earlier repayment is generally better for everyone.

Molly Driscoll:
Juan in Texas asks: if an heir comes in for a consultation and doesn’t have money for a retainer, can they use your service?

Marc Harris:
Yes, and it happens more often than people expect.

Many law firms spend money on marketing and receive potential probate clients who need to open a case but can’t afford the retainer.

In those situations, we ask for a consultation and confirmation that there are estate assets—usually a home that will be sold. If there is equity, we can advance funds to the beneficiary, often the person applying for letters, and that person can authorize us to pay the retainer directly to the attorney.

That can create a win for everyone: the beneficiary can open probate, the attorney receives cash flow without waiting until the end, and we can support the process.

We can also advance additional money if beneficiaries need funds for repairs or other estate-related needs.

Molly Driscoll:
Sarah in Florida asks: as an attorney for the estate or trustee, can I be held responsible if I talk to you about an advance, or if you don’t get repaid?

Marc Harris:
In short, no.

You’re not violating attorney-client privilege by discussing the case generally, and you’re not taking on liability simply by speaking with us.

If you’re concerned, ProbateCash can provide an indemnity in appropriate situations. Ultimately, the beneficiary decides whether they want to agree to our terms.

If we don’t get repaid, we do not come after the attorney. We understand the risk. Probate is unpredictable, and that’s part of our business.

Molly Driscoll:
Tim in Hawaii asks about process and timeline.

Marc Harris:
Cooperation from probate attorneys is extremely important. It can supplement our underwriting and help us move quickly.

With cooperation from estate counsel and clarity that funds will flow through the estate, we can sometimes fund the same day.

Molly Driscoll:
Catherine asks: my clients set up a trust, but a beneficiary needs an advance—do you deal with trusts?

Marc Harris:
Yes, we work with trusts.

Trusts can be more complex because of trust provisions. We typically want the trustee to be aware and involved, since the trustee will make repayment.

If there is spendthrift language, we may ask the beneficiary and trustee to waive that provision for the limited purpose of repaying us. We also like to involve the attorney associated with the trust so everyone is aligned, particularly when the trustee is not a corporate trustee.

Molly Driscoll:
Tyson asks: what’s the best way to refer people—online, phone, flyers?

Marc Harris:
I’m old school. I like a phone call, and email works too.

There’s no single magic method. What matters is getting the basic information: who is requesting the advance, approximately how much, and where the estate is in the probate process—whether probate has started, whether the claims period is underway, and other key details.

Molly Driscoll:
If you think of a question after the session, please feel free to reach out.

You can call Karen at 561-242-3082 or email karen@probatecash.com. You can call Marc at 561-476-0018 or email marc@probatecash.com.

We’ll also be sending a follow-up email with an e-brochure and a link to this webinar.

Thank you again for your questions and for joining us today.