Probate cash refers to obtaining a cash advance using inheritance assets held in probate as collateral. Probate is the process used to ensure the decedent's assets are inventoried and properly distributed to beneficiaries, as well as paying outstanding debts associated with the estate.
In order to obtain probate cash, heirs must work with either companies that provide cash for inheritance funding, or private investors such as Simon Volkov. Funding sources that provide probate cash advances take on significant risk because there is always the potential the estate will not have enough funds to repay the note once it clears probate. Additionally, they must wait a considerable amount of time before being repaid.
In some cases, probate can last several years. This typically occurs when an heir apparent contests the Will or if the decedent did not execute a Last Will and Testament prior to their death. In cases where the estate is relatively small and all heirs and beneficiaries are in agreement, probate generally takes six to nine months to settle.
Probate cash provides a cash option for beneficiaries who need immediate funds. Obtaining a cash advance involves providing the funding source with information about the estate. The applicant must also provide personal information such as their social security number and date of birth.
The funding source runs a credit report to ensure the applicant does not have outstanding liens or judgments such as past due taxes or child support obligations. Information pertaining to the estate is checked for validity through the probate courts.
Obtaining a probate cash advance generally takes ten to fifteen business days. The funding source charges a percentage of the estate assets and deducts it from the distribution check. Generally, this amounts to between 25- and 40-percent of the amount of the cash advance.
Due to the complexities of probate estates many people retain the services of a probate attorney to assist them through the process. In some cases, probate lawyers can expedite the process of obtaining probate cash advances because the funding source can quickly verify assets being used as collateral.
Simon Volkov provides probate cash advances through a simple process which typically requires less than ten minutes of your time. To get started, fill out our secure Probate Inheritance Form. Upon receipt of your information, Simon Volkov will contact you within 48 hours.
If you would like additional information regarding probate, inheritance, cash for inheritance or estate planning, we invite you to browse our comprehensive probate article library. Here you will find hundreds of informative and thought provoking articles on a wide range of personal money management and investment topics.