What Is The Difference Between A Trust And A Probate Estate?
In the state of California, the estate of a decedent will normally be managed and distributed by either a Trust or a court supervised probate process. One exception is that if the net value of the estate is less than $150,000 (in personal property), the administrator may choose to bypass both and simply pay the […]
Inheritance Loan vs Inheritance Cash Advance
You may be an Heir or an Administrator in a Probate Estate that is expecting or in need of cash. In general, a Court appointed Administrator may take out a secured loan (secured by the Estate home) for the benefit of the Estate. An Heir has no authority to encumber the Estate home or take […]
Am I A Probate Heir?
How are heirs in a probate estate determined? Often times, the deceased has left behind a Will, in which the beneficiaries are specifically identified. The respective amounts or percentages for the beneficiaries may be equally shared, or the deceased may have determined different percentages or amounts, or other various options. If there is no Will, […]
What Are The Benefits Of A Probate Cash Advance?
The probate process in the State of California, now takes about 18 months. It is not uncommon for this to take considerably longer. The Courts maintain strict oversight over the process, but are extremely overburdened. Hearing dates are constantly pushed out, and there are often other matters that delay receipt of an inheritance. Meanwhile, the […]
What is the difference between a loan and a probate cash advance?
I will begin by stating that while most people think of a probate cash advance as a loan, this is generally not the case. Most probate inheritance cash advances are actually assignments of interest. The heir has a probable inheritance coming their way, but often cannot wait until the completion of the court supervised process, […]
How Is the Administrator of an Estate Determined?
In the Estate where a Will is offered for probate, a proposed executor (and sometimes an alternate) is nominated in the Decedent’s Will. The deceased will generally choose a trusted family member, and occasionally they will choose an unrelated trusted individual such as a lawyer, financial specialist, or private professional fiduciary. In an Estate where […]
Does your Probate Estate includes Property with Outstanding Mortgage Balance?
What to do when a probate estate includes property that has an outstanding mortgage balance? Most often, a probate estate includes a home or other properties that have an open mortgage balance. It is crucial that payments on the mortgage are kept up to date. It is the obligation of the estate administrator to see […]
The Advantages of a Probate Cash Advance
You have just learned that you are an heir to a probate estate. Of course you are saddened by the loss of a loved one, but adding to your woes, you learn that it will probably take 12-18 months for you to have access to your share of your inheritance. Frankly, it may even take […]
Do You Need a Probate Attorney?
In the State of California, the executor of an estate has the right to hire a probate attorney to assist in the management of process, or to keep matters in their own hands. If the executor wishes to control the process by themselves, the estate is called “in pro per”. That signifies that there is not an […]
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 […]
