Saturday, January 25, 2014

Inheritance Funding Gives Access To Money 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.

These services covert your portion of your inherited property to cash before probate is completed. In exchange, you sign over a portion or all of your property. The provider of the funds will have a claim against the property that includes the funds and fees to which you must agree. You can qualify, even if you have no job, income or poor credit.

The funding you receive is not considered a loan. There is no need to pay interest on the funds and monthly payments are never due. You will not be held responsible for payments but enjoy the cash almost immediately. Once the probate process is completed your portion of the estate is distributed to the company satisfying the debt.

If there are funds left in your portion of the estate after the cash advance and fees are paid to you, it will be distributed directly to you. This makes the process easy and convenient for you. It can provide needed funding while eliminating the wait for probate and eases the pain of the often misunderstood process.

Probate is the process of dispersing an estate to heirs after a relative dies. Once he or she dies, ownership of real estate and personal property must be legally transferred to the heirs. If the individual left a will, the instrument dictates how the property is divided. However, if the person dies without a will, any properties are transferred according to state law. Probate is the process of accounting for any assets, making sure all debts and taxes are paid and dispersing any remaining funds to heirs.

As this is a legal process, it requires time. Even if no one contests the will of the deceased, it takes time for the proper notices to be posted and the court to schedule any hearings. Larger estates or those with a great number of heirs or debts take longer to close. If the will is contested, one must wait even longer.

To begin probate, the will must be accepted as valid. It usually names a personal representative who serves as executor who manages the estate. This person's job is to pay debts, take inventory of property and distribute the goods in accordance with the will. When no will is found or the one presented is invalidated by the court, probate determines who will receive the property in accordance with state law. Only after all disputes are resolved by the court can the estate be distributed.

Since the probate process is often costly, taking part and defending your share can be difficult. However, inheritance funding can be used to pay for attorneys if necessary. With the funding, you can ensure the process operates smoothly, eliminating the worries of financial problems.




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