If a loved one recently passed away and you are an heir, you may receive numerous marketing messages from companies offering you a faster financial solution before you can get your inheritance.
A probate advance is one of the products you can choose from, but there are things you must know before deciding whether it is right for you.
What Are Fast Probate Advances?
As the name suggests, a probate advance helps you get a portion of your inheritance before the probate period ends. Different companies have different policies, so research what you need to qualify and how much you are eligible for.
One of its main benefits is the fast access to funds, with some companies promising same-day deposits or less than a two-day wait. That is a relief because the probate process can take months or even years to finish. Another major benefit is that most companies absorb all the risk if anything affects your inheritance.
While different companies have different processes, you must submit an application. You should also send documents showing the estate’s information and validating that you are a beneficiary.
The company then evaluates your application and determines your qualifications. Most companies then offer you an amount less than your inheritance but require access to your full inheritance after the probate process.
How It Differs From a Probate Loan
Unlike a probate loan, a probate advance does not include monthly payments and does not use the estate or part of it as collateral. That means that it does not affect other beneficiaries. Also, the companies don’t check your credit score or income, and most don’t charge upfront costs.
Inheritance Loans USA is one of the most reputable places to get reliable and fast probate advances under friendly terms. Consult with an expert and send your application online.