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What is an Estate, and What is Estate Tax?
What is an Estate? We spend the majority of our lives working, raising our families, and putting aside some money towards our retirement. Hopefully during this time, we have accumulated some savings, perhaps an investment, and a home that has appreciated in value. This is called is called our Estate. This is the cash and property that we wish to leave our heirs as inheritance when we pass. The value of our Estate is determinedRead more
Why Estate Planning is Beneficial
Almost no one knows the date of their impending passing. Most of us do have an idea or general plan on how we would like to see the assets of our estate distributed upon our death. Unfortunately, we do not always get around to making our wishes properly documented. Often that can be a very costly mistake to those whom you wish to leave your accumulated assets. Besides the obvious assets of cash, stocks andRead more
I Want My Money Now!
Someone close to you has passed, and you are an heir in their estate. If the estate is going to be probated in the State of California, the process will generally take between 12-24 months to come to conclusion, with funds distributed to the heirs. You need or want a portion of your inheritance now. Personal expenses or those related to the estate must be paid, and that is a very long time to wait for distribution. YouRead more
How to Avoid an Heir Cash Advance Scam
It seems whenever the economy takes a turn for the worse, we experience a rise in scams that prey on those that our most needy citizens. Many of these scams seem to come from Nigeria, through the U.K. Individuals here in the U.S. are contacted by phone or mail, claiming that they are going to be recipients of a substantial inheritance. This inheritance is coming from a long lost or unknown relative. Generally the callerRead more
Is an Inheritance Cash Advance a Loan?
The simple answer is that an inheritance cash advance provided by Advance Inheritance is not a loan. A loan generally includes a specific pay off date. When Advance Inheritance provides funds, there is no specific pay off date, we are repaid when the probate estate is completely settled and the court has approved the distribution of funds. This period may be as little as a year from the opening of probate administration, to as muchRead more
Surprising Facts Related to Heir Cash Advances
Non-Recourse Transaction The heir cash advance is not a loan. With a cash advance, an heir assigns a limited portion of his/hers inheritance. Unlike an heir loan, an assignment is a non-recourse transaction. This means that the heir will not be personally responsible to repay any portion of cash advance (other than in the case of fraud); we get repaid directly by the Administrator, who deducts the assigned amount from the share of the heir. Read more
Executor and Trustee Frequently Asked Questions
Q: – How is the executor or trustee of an estate chosen? A: – To begin, if there is a will or trust available, that person will be named. In the case of a will, they will be called the executor, while in the case of a trust, they will be called the trustee. If the decedent passes without a will or trust, the estate will be called intestate. In this case, the court willRead more
Who Is Eligible For An Heir Cash Advance
Most heirs to a Probate Estate can receive a cash advance on their inheritance. This is the case regardless of the existence of a Will or not. An advance has no bearing on any of the other heirs, nor does it affect the manner in which the Estate is administered. The amount available is based on the net value of the inheritance (after all estate claims and expenses are paid). If the estate is governedRead more
Time is Money: Advance on your Inheritance
Often the heirs of an estate do not have the time to wait for the entire Court directed process to be completed. The estate may need funds to update real property for sale. The property may sell for a much higher price after remodeling, than it might in its current state. Updated property may also sell much more quickly than property left to heirs by an elderly deceased individual. Property held by an estate may be close toRead more
