The vast majority of the general public has a very limited understanding of what the Probate Process entails. What is Probate?
When a person dies, they leave behind their remaining wealth and possessions to be distributed. These items make up the estate of the decedent (person who passed away). Probate is the process that legally dictates how the estate is to be distributed. In other words, Probate is a court supervised process where the validity of the decedent's last will is established and it is decided how the estate will be distributed among the heirs and beneficiaries.
MAJOR PROBLEMS WITH PROBATE
Probate is a very time consuming and paperwork intensive process. While some estates can be administered in 18 months or less, a large percentage of estates can take up to 3 years to close. This means that the estate heirs may not receive any inheritance money for up to 3 years even when probate has already begun.
YOU CAN GET A PORTION OF YOUR INHERITANCE NOW
Because the Probate Process can take well over a year or more to distribute money to you, Inheritance Funding Company provides cash advances to heirs. IFC's inheritance advances are not loans, so there are no monthly payments. Instead, IFC actually purchases a portion of your inheritance and is paid back directly from the estate when Probate is closed. Now that you have a better understanding of what probate is, as well as the delays and pitfalls associated with it, you can decide whether you'd like to receive portion of your inheritance cash now rather than waiting 1 or 2 years.