How Much Does an Inheritance Loan Cost?
There’s no easy answer, but I can give you some general guidelines. Let me get started by giving some details about probate, probate court and the general process you’ll want to be familiar with. I will avoid technical terms as much as possible. For example, I just use the term “beneficiary” for someone getting a gift from a decedent’s estate either by operation of law or by will or trust.
Waiting for an inheritance held up in probate can take months or even years, leading many heirs and beneficiaries to consider the benefits of an inheritance cash advance. That leads us back to the question…
How much does an Inheritance Advance Cost?
To understand inheritance loan rates, it’s important to first understand how an advance on an inheritance works. While it’s natural to think of an inheritance advance as a loan, there are important differences between a traditional loan and an inheritance advance.
While the term “inheritance loan” is widely used as a form of informal description, an inheritance cash advance is not strictly speaking a loan. With a typical loan, the borrower receives money up front and pays interest on the loan. The balance of a traditional loan grows steadily according to the interest rate and the length of time the loan is in effect. A high interest rate can practically “eat you alive” as it keeps on growing day by day.
In contrast, an inheritance cash advance is a purchase and sale agreement whereby the heir sells, and the inheritance advance company buys, a fixed dollar amount of the heir’s expected distribution from the probate. The inheritance advance rates are spelled out in the contract from day one, so the total inheritance advance fees are known upfront.
The bottom line answer to the question of how much does an inheritance advance cost is also frequently determined by a cash back rebate that gets returned to the heir or beneficiary for payment within a certain period of time, as spelled out in the contract. This rebate brings the net inheritance loan fees down from the amount of the purchase price.
As noted above, an inheritance cash advance may be referred to by one of several names. These names may include: inheritance loan, probate loan, probate advance, heir loan, heir advance, etc. While the names may vary, the product is the same: a purchase and sale agreement whereby the heir or beneficiary of a probate estate receives an immediate cash payment in exchange for a portion of the eventual inheritance later. The inheritance loan fees are the difference between the immediate cash payment and the repayment amount. There are no additional costs and the balance does not rise over time.
The inheritance advance fees for your specific situation will depend on a variety of factors, including the length of time your inheritance is likely to take, the complexity of the probate, and the typical length of time for courts in your area to finish the probate.
Heir Cash Now offers some of the lowest probate loan rates in the business. We understand that your loved one worked hard and saved up to leave you an inheritance, and we believe you shouldn’t have to pay any more than necessary to receive a portion of your inheritance right now, when you need it.
If you would like to know exactly how much does an inheritance advance cost for your specific situation, give us a call at (860) 800-6633. We can discuss your inheritance and provide you with probate loan rates for your exact circumstances.
In addition to the transparent, fixed price that determines how much does an inheritance advance cost, there are several other advantages to an inheritance cash advance from Heir Cash Now. We do not conduct a credit check, since credit is not a factor in whether you qualify. All we need to know is that you have an inheritance coming.
Another advantage is that you don’t have to make any payments (unless you represent the estate itself). That’s because the estate pays us back directly at the end of the process, not the heir or beneficiary in their personal capacity.
Therefore, an inheritance cash advance doesn’t impact your credit. As long as you have an inheritance coming, you are eligible to receive an inheritance cash advance.
Give us a call at (860) 800-6633 and ask for Matt. I’ve helped countless beneficiaries over the years access funds from their inheritance stuck in probate.
We offer free consultations and we are committed to answering all your questions so you can understand exactly how it works. If you decide to go ahead with an application, I can take your information right over the phone to get started.
If you owe money, getting an advance on your inheritance is a great way to pay your bills now, take care of your financial obligations, and restore your peace of mind. We look forward to your call!
For general information about Heir Cash Now visit our home page https://heircashnow.com/
Matt Lakenbach is a funding expert and Managing Director of Heir Cash Now. He has worked with attorneys, courts, and beneficiaries for several years to help heirs access their inheritances without the long wait. He previously worked for a nonprofit organization, and has a Master’s in International Peace and Conflict Resolution.