The Cost of Receiving an Advance Against Your Inheritance:
If you are reading this blog, you probably know by now that receiving an inheritance is not like it’s portrayed in the movies or on tv. The family does not gather in a lawyer’s office for the reading of the Will followed by receipt of treasured artwork, jewelry, cash or real property. If there is a Will.
Instead, intended beneficiaries of an estate usually have to retain a probate lawyer to file a probate case so the decedent’s estate may be administered after approval by a judge. This probate process takes significant time to complete and is further subject to objections or claims made by other parties who believe the decedent owed them money or other parties who may object to how the estate assets are being distributed and to whom. For these reasons and many more, the probate process takes many months and often over a year. And that means beneficiaries of estates anticipating (and needing) an inheritance must wait accordingly to receive their inheritance.
The people at ProbateCash understand these delays not only happen, but are a normal part of the probate process. ProbateCash also understands and empathizes with beneficiaries who were expecting their inheritance much sooner and made life decisions as if the inheritance would be received quickly after the decedent’s passing. We know that needing an inheritance doesn’t make anyone a selfish or less sympathetic person after a loved one passes. No matter how much we may miss a loved one who passes, needing the expected finances is simply a practical and necessary matter. ProbateCash is here to help by providing an advance today against the inheritance you may not receive for many months and much longer.
After determining that an advance against your inheritance is necessary, the first question is usually, “how quickly can I get paid the advance?” and “what is the catch (how much does an inheritance advance cost )?” Great questions.
First, ProbateCash can advance money against your inheritance within 1-2 business days, if not even hours after your request. The ProbateCash team will review your application and quickly make a decision with respect to how much of an inheritance advance you qualify for under the probate case circumstances. One of the funding experts at ProbateCash will work and speak with you each step of the way so you not only know the status of when you will receive an inheritance advance, but you are also updated on the status of the probate case so you can know when to expect to receive your inheritance and how much the inheritance will be after the probate court process concludes. No Surprises.
Second, what is the cost of an inheritance advance? This question is also very important so you know whether receiving an advance is right for you and your family. Because ProbateCash does not actually lend money to anyone, As a result, ProbateCash does not know when you will repay the inheritance advance or whether there will even be any assets from the estate to repay ProbateCash after creditors or other parties stake a claim the estate assets. Moreover, because inheritance advances are not loans, no credit check is necessary nor do you need collateral. ProbateCash provides you with an inheritance advance and while you can repay the inheritance advance anytime you wish, ProbateCash understands that the inheritance advance will probably be repaid when the probate case concludes and the Judge approves you receiving the inheritance.
Since an inheritance advance is not a loan, there is no interest rate. Instead, an inheritance advance has a fee starting at around 25% of the advance amount. The cost of the inheritance advance can often be more than a credit card since there is no collateral and no term of repayment. In fact, if the advance cannot be repaid because you are not entitled to an inheritance after the probate case concludes, you are not required to repay the advance. If you don’t get your expected inheritance, ProbateCash does not receive repayment nor does ProbateCash usually have a legal remedy to demand repayment as if ProbateCash were a lender.
Having established the cost of an inheritance advance, is it right for you? Before understanding the true cost of an inheritance advance, you probably should know exactly why you need an inheritance advance. For example, if you need an inheritance advance because you and your family need money to pay everyday bills for rent, utilities, food, car payments and other such needs, the cost of an inheritance advance is very good. Because if you qualify to receive an inheritance advance, ProbateCash can pay an inheritance advance almost immediately upon your request without a credit check and without collateral. As such, you will have money immediately to pay those bills and protect your family from a car being repossessed or even an eviction from your apartment or home.
However, if you want an inheritance advance to purchase a luxury item or take the family on vacation, the cost of an inheritance advance should be more carefully considered. Is the cost of an inheritance advance worth taking a vacation today or is it better to wait until the probate case closes many months from now and you receive your inheritance from the estate before taking that vacation. Like many things, whether the cost of an inheritance is worthwhile to you is a matter of your own finances and personal decisions.
But what if you need money from your inheritance to repair the estate home or your home? What if an inheritance advance from ProbateCash was used to considerably improve the value of the home? If an inheritance advance of $25,000 could make the estate home sell for $75,000 or more after the improvements, the cost of an inheritance advance would certainly seem worth it to you and even the other beneficiaries of the estate. In this case, you may be asking yourself the cost of NOT taking an inheritance advance. If I do not take an inheritance advance, am I or the other beneficiaries of the estate going to lose out on receiving the most money possible from your inheritance after the personal representative sells the estate assets? Am I doing everything I can to ensure that the estate assets are being sold for the most money possible? Will an inheritance advance actually help me and other beneficiaries receive a greater inheritance than if I didn’t receive an inheritance advance? Questions like these involve lost opportunities resulting in NOT receiving an inheritance advance. You won’t have to pay a fee, but what is the cost of taking an inheritance advance or the cost of NOT taking an inheritance advance?
These questions are not always easy to answer. In addition to discussing these issues with a ProbateCash representative, you should also discuss with trusted friends, professional advisors, realtors, family members, and other beneficiaries. The good news is that not all of the beneficiaries have to be in agreement about whether the cost of an inheritance advance makes sense or not. ProbateCash knows that determining the cost of an inheritance advance is a very personal decision and that while it may be the best option for one beneficiary, it’s not the best option for every beneficiary.
After talking to your trusted advisors or carefully making a decision yourself to determine whether the cost of an inheritance advance is right for you, ProbateCash will only enter into a contract with the beneficiary who wants the inheritance advance. If you decide you want an inheritance advance because the cost of an advance is right for you based on your needs for the inheritance advance, you receiving such an advance does NOT affect any of the other beneficiaries. So if other beneficiaries do not want an inheritance advance, those beneficiaries can rest assured that your inheritance advance will not affect or inconvenience them in any way.
In conclusion, the determination of the cost of an inheritance advance had multiple factors such as (i) the actual fee charged for your inheritance advance, (ii) the reasons you want or need an inheritance advance, (iii) the cost of not receiving an inheritance advance if the money could be used to improve properties or other assets that will be sold by the estate.
Whether the cost of an inheritance advance is right for you or not, ProbateCash remains committed to serve you professionally, quickly and with empathy for your particular situation. ProbateCash will talk to you and any friends, family or trusted advisors you wish to introduce to us. The best decision is an informed decision before fully determining whether the cost of an inheritance advance is right for you.
And to learn more about if a ProbateCash advance is right for you, please read my other article:
https://probatecash.com/is-an-inheritance-advance-right-for-you/
