FAQ – Inheritance Advances

  • 1. What exactly is an Inheritance Cash Advance?
    • The inheritance process in the United States takes an average of 17 months to distribute funds to the rightful heirs. An inheritance cash advance allows heirs to access their inheritance immediately when the estate opens rather than waiting for it to close.
  • 2. Are there any risks or fees associated with applying?
    • No! There is absolutely no cost or obligation associated with applying for an advance. Consult with one of our knowledgeable Funding Officers to discuss your inheritance, the estate, pricing, timelines, etc. all for no charge.
  • 3. Who is eligible to receive a cash advance from IFC?
    • Any heir inheriting at least $17,000 from a probate estate which is already open (or is in the process of being opened) is qualified for a probate advance. If you aren’t sure how much you are receiving or if you’re receiving a bit less than $17,000, feel free to still call us for a free consultation.
  • 4. Does the advance affect other heirs in the estate?
    • No! This is understandably a common question for many of our clients. Our transactions are strictly between IFC and the specific heir who received the advance. The estate as a whole and the other heirs’ share are never affected by our advances. When the estate is ready to distribute, if there isn’t enough for IFC to be paid in full out of our client’s specific share, we simply take the loss.
  • 5. Are there minimums and maximums for cash advanced by IFC to an heir?
    • Generally, IFC’s advances range from $5,000 to $250,000. As a general estimation, assume the advance cannot exceed 30% of an heir’s expected distribution from the probate estate.
  • 6. How much does it cost to get an inheritance advance?
    • The cost involved with an advance is dependent on a number of specific factors such as the amount of time until the estate will be closed, complexity of the estate, size of the advance, etc. With every advance we offer, we guarantee you will receive the lowest price available. We also offer substantial rebates for early repayment.
  • 7. What does IFC receive in return for the inheritance cash advance?
    • In return for immediate cash advance from IFC, the heir sells (i.e. “assigns”) to IFC a fixed amount out of the heir’s eventual share of the probate estate. This fixed amount (i.e. the “assignment amount”) is clearly laid out in the contract and agreed upon before the advance is ever paid.
  • 8. When does IFC get paid?
    • IFC is paid directly from the estate upon distribution. The remainder of our client’s inheritance is distributed directly to them. In other words, our clients never directly make, nor are they personally responsible for, any payments to IFC.
  • 9. Do you offer rebates if my advance is paid back earlier than expected?
    • Yes! We build substantial rebates into the pricing of our inheritance advances in order to give our clients the best price possible. If we receive payment in full before the Early Pay-off Rebate (EPOR) date, we’ll send you the rebate amount within 5 business days.
  • 10. Are monthly payments required to repay the advance?
    • No. IFC is paid directly and in full from the probate estate at the time of distribution.
  • 11. Will credit problems prevent someone from getting an heir advance?
    • No! A poor credit record, including delinquencies, discharges in bankruptcy, foreclosures, etc., will not prevent an heir from receiving an advance. IFC may still obtain a credit report in preparing a case for funding, but primarily to determine if there are judgments, child support or bankruptcy proceedings that may affect the eventual payment of the assignment.
  • 12. What if there are insufficient funds in the probate estate at the time of distribution to pay IFC?
    • This is one of the major risks IFC assumes when it advances inheritance cash to an heir. If an heir gives accurate information on their application and honors the assignment agreement, they have no personal liability for payment of the advance.
  • 13. What happens if a previously unknown creditor makes a claim on the probate estate?
    • This is another risk that IFC takes away from the heir. If there are insufficient assets at the end of the probate to cover the amount of the assignment, IFC simply takes the loss. The heir is not liable to pay back the assignment unless, of course, the heir was aware of the claim(s) and failed to tell IFC about it in the application process.
  • 14. What happens if the distribution of the probate estate is delayed?
    • IFC must wait until the probate estate is ready to distribute. There is no recourse to the funded heir for any delays in the distribution. The assignment does not accrue interest or become more expensive. No matter how long the distribution is delayed, our client’s flat fee will never increase! On the other hand, we offer significant discounts if we are paid back earlier than anticipated.
  • 15. Are there any geographic limitations on funding?
    • IFC works with heirs to estates in every state in the US. We do not work with estates outside of the US.
  • 16. What if the heir lives in a different state than where the probate estate is open?
    • It is common for the heirs of a probate estate to reside in a state different from where the estate is going through probate. This is not a problem at all! We routinely work with estates in counties all over the country. We also work closely with county probate courts and probate attorneys all across the United States.
  • 17. Who should I call if I have any questions about IFC?
    • For questions about an inheritance advance, or to refer heirs or beneficiaries, call our friendly Funding Officers at (415) 782-5217 or toll free at (800) 944-2072 anytime.
  • 18. How do I apply for an advance on my inheritance?
    • The quickest and easiest way to apply is by calling us toll free directly at 1-800-944-2072. You can also apply online for free right now here on our website.