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 heirs may have pressing financial needs, such as
1.Immediate need for burial expenses
2.Cash to clean up and upgrade Estate home for sale
3.One or more heirs may wish to buy out the rights of other heirs
4.Cure a delinquent mortgage to prevent loss of Estate home at foreclosure
An heir may have their own unique financial difficulties that cannot wait for final distribution of funds.
Our probate cash advances are memorialized in an assignment made in compliance with the CA Probate Code. The heir “sells” or assigns a fixed amount of their potential inheritance for an immediate cash payment. The heir is not personally obligated to repay the assignment, such as a personal debt obligation in a typical lending transaction. In some instances, the estate is settled and funds are distributed, but there may be insufficient cash to satisfy the assignment in whole or part. Because the heir is not personally liable to repay an assignment (i.e. non-recourse), the heir is not obligated to repay the unsatisfied portion of the irrevocable assignment (absent fraud by the heir who received the cash advance).
A probate cash advance is not right for everyone, but it has many benefits for those with unique needs for immediate cash. We fund in about 3-5 days…sometimes sooner.