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A probate heir may wonder whether court permission is required before securing a cash advance on his/her inheritance. The answer is “NO.” Court permission is not required, nor is permission required by the estate or the estate attorney.
When ADVANCE INHERITANCE makes a cash advance to an heir, the transaction does not have any effect on the overall estate, or on the share of the estate that is due other heirs. The advance will simply act as a lien upon the share of the heir to whom we make the cash advance.
As an example, if there are 3 heirs to an estate with an estimated $350,000 value, the estimated net share of each heir might be $100,000. The heir, who works with us, by securing a $10,000 cash advance will be assigning a portion of his $100,000 inheritance to us, and nothing more. This advance will have absolutely no effect on the full distribution or inheritances of the other heirs who elect to wait until the close of probate to access their inheritance funds. In addition, the advance will not have any effect or delay the closing of the estate; it’s quite simple.
Remember to always consult with an attorney before making any decisions regarding your share of an estate. Feel free to call us with any questions. We are here to help.