Inheritance Rights of Heirs
Getting Started With An Heir Cash Advance
If you’re a first-time heir to an inheritance, you probably have many questions. Most heirs aren’t very familiar with the inheritance process or what it entails — they just know they’re in line to receive money, property or assets from an estate.
As an inheritor, there are several steps you must go through before you can receive your share of the estate, as well as certain rights you can draw upon in the process.
You’ve Been Named an Heir to an Inheritance – What’s Next?
As the rightful heir to an inheritance, you’re owed a share of assets from the estate of a recently deceased individual, or decedent. However, you must go through a process called probate before you can collect your inheritance. Probate is the process of administering and closing an estate after the owner has passed away. Probate can take several years to complete, and all heirs must wait for probate to conclude before they can collect their share of the inheritance.
Luckily, you can skip the probate process entirely and get your money fast when you apply for a cash advance for heirs. At Inheritance Funding, our heir advances allow inheritors to access a portion of their money instantly, without the hassle of probate.
What Is an Heir?
An heir is an individual who legally inherits a portion of another person’s estate when they die intestate, or without a will. Because the deceased individual failed to allocate their assets in a will, the heir is legally entitled to receive property from the estate according to state laws.
Heirs are typically blood relatives of the deceased, like children, parents and other close relatives. In cases where there are multiple heirs in line for an inheritance, they typically divide the estate evenly among themselves.
What Are Your Rights as an Heir?
As an heir, you have rights that protect you throughout the inheritance process, including the right to:
- Timely transfers: Once a will is probated, heirs have the right to receive their entitled share in a timely manner.
- Information: Heirs may request access to any information or reports regarding the estate’s assets, administration and payments.
- Accounting: Heirs have a right to any accounts of the actions performed for the estate, including reports, receipts, proof of transfers and canceled checks.
- Executor approval: An heir has control over how much an executor is compensated for their services.
- Fairness: Heirs are entitled to an executor who performs their duties fairly and without favoritism.
- Relief: If an heir believes that the will’s executor isn’t fulfilling their duties adequately or fairly, they can seek relief from the court system.
Is There a Difference Between an Heir and a Beneficiary?
Heirs are family members who are entitled to a share of a deceased relative’s estate when that individual passes without leaving a will and testament behind. Beneficiaries are persons who the decedent specifically named in their will or trust — these individuals do not necessarily have to be related to the deceased.
Get Your Money Fast
If you’re an heir who wants to access your inheritance fast, turn to Inheritance Funding. We provide cash advances for heirs that same day so you can get the money you deserve exactly when you need it.
Schedule your free consultation today!