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Inheritance Loans: Cash Advances for your Inheritance
Inheritance loans allow an heir to get money entitled to them from a decedent’s estate. The term inheritance loans is actually a misnomer. Inheritance loans are cash advances to beneficiaries for selling a portion of the cash owed from a loved one’s assets after they pass away.
Inheritance loans secure funds for beneficiaries while the deceased’s estate is in the probate process. Probate can be a long, expensive process. The decedent might have thought naming a specific amount for each heir in their Will would ensure his loved ones received their legacy. Unless the deceased set up an irrevocable living trust, his assets will go into probate upon death. Without inheritance loans, heirs could end up with nothing if the estate lingers in probate.
The probate process can take years. If probate costs run too high, and the estate is insolvent, the assets are liquidated. Heirs aren’t paid until after taxes, court bills, attorneys’ charges and creditors are paid. By getting inheritance loans, the beneficiary can get cash they need now from a lender or a private investor.
Inheritance loans are a risky investment that most traditional lending institutions won’t approve. Beneficiaries are left with secondary lending options or private investors.
Like a traditional loan, inheritance loans require personal information from the beneficiary. A credit report is run to check for outstanding debts, child support, bankruptcy, liens or judgments. Documents must be submitted to the lender and/or private investor including a copy of the deceased’s Last Will and Testament, estate administrator’s name and contact information and all probate documents.
Inheritance loans won’t be approved if the Will has a spendthrift clause. A spendthrift clause prevents an heir from agreeing to turn over their portion of the estate to a third party. With this clause, the estate administrator won’t honor the agreement. This is a way for the deceased to protect their loved ones who might spend their money before receiving it.
Inheritance loans are not paid back by heirs. Legitimate funding sources will not charge fees to a beneficiary directly. All payments are made from the decedent’s assets after the probate process. If the estate isn’t able to pay back the funding source, the heirs are not liable.
Inheritance loans do not have to be a long complicated process. A specialized inheritance company and outside private investors, like Simon Volkov, can provide payment in a lump sum in as little as three weeks. Simply go to SimonVolkov.com and click the forms tab. Then click on the cash for inheritance link and in 48 hours you will be contacted to find out how to get your money fast. Enquire now because your loved one wanted you to have your inheritance, not the probate courts.
About the Author
Simon Volkov is a Private Investor who provides beneficiaries inheritance loans when they need cash. The probate process can take years. Heirs helplessly watch as estate assets are depleted. Simon can help you claim your inheritance before it is gone.
