FAQs
Frequently Asked Questions
About a Probate Cash Advance
Probate Money Now is a probate financing company. We have more probate experience than any of our competitors.
Probate Money Now provides probate cash advances to heirs. Because probate in the United States takes, on average, about one and a half years, many heirs need some of their inheritance before the probate process is complete. A probate cash advance is a transaction whereby Probate Money Now buys a portion of your inheritance in exchange for cash now. Probate Money Now then receives payment from the estate when the estate makes distribution to the heirs.
Bad credit will not prevent us from doing a probate advance. If you have a judgment against you, that might prohibit a probate advance, but you should check with us to determine whether this is a problem. Also, anyone currently in bankruptcy will not be eligible for a probate advance.
The benefits of a probate cash advance are clear and simple – access to some of your inheritance before probate is finished.
The primary downside of a probate cash advance is that you will receive less money overall than had you waited to receive the inheritance in full.
Some heirs need cash today, but do not necessarily want to give up a portion of their inheritance to receive it.
Please see our article on alternatives to a probate cash advance to learn more.
We first have a no obligation initial consultation to see whether a probate cash advance is right for you and us.
If so, we review certain documents from the estate, including the will (if there is one), and the estate inventory.
If our review indicates that you meet the criteria for a probate cash advance, we prepare a contract for you to review and sign. Upon receipt of the signed contract, we provide the probate cash advance to you.
Probate Money Now receives its money when the estate makes distribution to the heirs.
If there is a will, we will always need a copy of the will. We will always need a copy of the estate inventory. If there are creditor claims that have been filed, we will need to see those as well.
There are other documents that we might need, depending upon the size and complexity of the estate, as well as the stage that the estate is in. If the executor has performed any accountings, for example, we would need to see those before deciding on whether to enter into a transaction with you.
No! Probate Money Now looks to the estate to collect its share of the inheritance that has been assigned. The customers of Probatstar Financial do not have any liability to us. So if the estate ends up running out of money, Probate Money Now takes the loss. (Exceptions apply for fraud and material omission of facts. Please review the transaction documents for more information.)
Everyone is eligible to receive a probate cash advance, except those who have judgment against them, or are in or are recently out of bankruptcy.
Not every estate is a good candidate for us, however. We must determine that there is a pretty strong chance that we will receive the amount of the inheritance for which we paid.
Probate Money Now might be able to enter a transaction even if the estate is involved with litigation. It really depends on the litigation. For example, if there is litigation over who the heirs of the estate are, we probably cannot do a cash advance with that estate. Litigation with a creditor might not prevent a probate cash advance, so long as we are able to determine the maximum amount the creditor might receive from the estate.
Not a problem at all. Because the transaction is between an heir and Probate Money Now, it does not matter whether there are other heirs in the estate, and it does not matter when the other heirs do not want to enter into a probate cash advance transaction.
It takes about one week, on average, from an initial inquiry to funding, but the biggest factor controlling how long the process takes is how quickly we are able to receive the documents that we need to review before making a probate cash advance.
Yes! A probate cash advance is perfectly legal. To learn more about how a probate cash advance is regulated, please see the article about whether a probate cash advance is legal.
We advance between $5,000 and $500,000. In general, we can advance up to 40% of an heir’s expected distribution from the estate. If you fall outside these parameters, feel free to call for a consultation to see how we still might be able to help.
Maybe. Although trust administration can take place faster than a probate administration, this is not always the case. But many trusts contain what is known as an anti-alienation clause, which prohibits heirs from assigning their portion of a trust. If the trust in question contains an anti-alienation clause, we probably cannot do a transaction. If you are unsure as to whether the trust in question contains such a clause and you are interested in an advance, ask for a free consultation and we can review the trust document to determine whether we can provide an advance.
We can do probate advances for surviving spouses looking to receive their elective share in some states and in some situations. Please contact us to learn more.
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