Tuesday, January 28, 2014

Inheritance Funding Gives Heirs Access To Cash When Needed

By Marissa Velazquez

When a loved one dies and leaves you property or money, they are often tied up in probate. Inheritance funding allows you to get the cash you need when you need it. It can eliminate the need to wait months or years to get what was left to you.

This type of service pays out your portion of the inherited property in cash before the legal process of probate is completed. In exchange, the money you receive, along with any fees is paid from your portion of the property. A claim is made against the estate to cover the funds to cover

The cash advance you receive is not a loan. You do not pay interest on the advance and you do not make monthly payments for the cash you receive. You never make payments and are not responsible for the payments. Once probate is completed and the estate is distributed the company providing the funds receives the fixed money for your portion of the estate.

If there are funds left at the end of the process once the advance and fees are satisfied, it is sent directly to you. Thus, the process is both easy and convenient. It simply provides needed funding while eliminating the need to wait for the courts to complete the legal process of probate, easing the pain of this often misunderstood process.

Probate is a legal process to disperse one's estate to heirs after death. Once the individual dies, the law requires the real estate and personal property to be transferred to new owners. If a will has been left, it dictates the division of one's property. However, when individuals die without a will, the state has laws in place that dictate how any properties are distributed. Probate involves accounting for assets, paying all taxes and debts that are due and then dispersing the property that remains to heirs.

Because the process involves the courts, it takes time. Even if the will is accepted as valid and does not face any contesting, it will take time for all the legal notices to be published and the requirements of the court to be satisfied. The larger the estate and the greater the number of heirs, the longer probate takes to close.

If a will is available, it must be accepted before probate can begin. They will normally names an executor or personal representative to manage the estate. This person is charged with paying debts, inventorying properties and distributing the goods by following the will. When a will is not available or found as invalid, the process of probate uses the state laws to determine who receives the property and the portion which they receive.

Probate is a costly process. If you find yourself in the place off contesting a will, the cost can be even more. With the option of inheritance funding, you can make sure you have the appropriate attorney. The funds received can be helpful in ensuring probate takes place as it should and eliminate the worries over one's financial difficulties in an already difficult time.

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