Inheritance funding allows heirs to receive a cash advance using inheritance assets held in probate as collateral. Inheritance funding is not a loan and does not have to be repaid by the recipient. Instead, beneficiaries assign their inheritance rights to the funding source. The estate pays the funding source once the estate is settled.
Inheritance funding is risky business for the funding source. Estates can be held in probate for months or even years. If family disputes arise or heirs contest the Will, financial assets can quickly vanish; leaving nothing for beneficiaries or the funding source.
In the event of insufficient estate funds, recipients of cash for inheritance funding are not personally responsible for repayment to the funding source. As long as they have been truthful in their reporting, the cash advance lender cannot take legal action against them. However, if it is discovered the recipient engaged in unethical behavior, the funding source can seek compensation through the court system.
Although there are plenty of inheritance funding companies, it is crucial to exercise caution. Thoroughly investigate the company by conducting research online and checking with the Better Business Bureau at www.BBB.org. Consult with a probate attorney before signing any documents. After all, you are signing away the rights to your inheritance. Don't throw caution to the wind just because you need quick cash.
Reputable funding sources require a current credit report to determine if the applicant has any outstanding liens, child support obligations or bankruptcy proceedings. These types of attachments could interfere with repayment to the funding source and may prevent the applicant from receiving cash for inheritance.
Typically, funding sources require inheritance assets to be valued at $15,000 or more. Proof of inheritance must be provided and validated. If real estate is involved and multiple heirs are entitled to it, they must all agree to sell the property. In some states, probate laws require a judge to approve the sale of real estate and probate assets.
Depending on the circumstances, amount requested and probate assets used as collateral, obtaining inheritance funding generally takes two to three weeks to complete. The funding source requires time to validate information provided and calculate potential risks.
A lesser known way to obtain inheritance funding is through private investors, such as Simon Volkov. If you are entitled to inheritance held in probate and in need of a cash advance, we invite you to contact Simon Volkov through our secure Cash for Inheritance form. You will be contacted within 48 hours of receipt of your information.