Common Inheritance Advance Loan Lending Questions
1. What is an inheritance advance?
Answer: An inheritance advance is a way for you to access a portion of your inheritance now, without waiting for the unpredictable probate process to finish. It’s a great option if you need to pay for expenses or have a financial need that can’t wait.
2. Is an inheritance advance a traditional loan?
Answer: No, it’s not. The key difference is that with an advance, you aren’t personally responsible for repayment. There are no monthly payments or interest charges, and your credit isn’t a factor. The advance is simply repaid directly from your share of the estate.
3. What can I use the money for?
Answer: The money is yours to use for anything you need. You can use it to cover funeral costs, legal bills, or to pay down personal debts. Many people also use it for general living expenses or unexpected emergencies.
4. How much of my inheritance can I get?
Answer: The amount you can receive depends on the value of the estate and your specific portion of the inheritance. We collaborate with our counsel to determine a suitable amount that meets your needs while ensuring the process is financially sound for all parties.
5. How does the process work and how fast can I get my money?
6. Will my credit score or employment history affect my chances?
Answer: No, they will not. Your personal credit score and employment history are not a factor in our decision. The advance is based on the value of the estate, not on your personal finances. Each situation is unique and is assessed accordingly. A credit report is completed, but it is NOT for qualification purposes, but used to identify any potential judgments, bankruptcies, or other issues that could place a lien on the inheritance itself. This is done to protect the funder from unforeseen risks, not to assess your ability to repay.
7. Are there any hidden costs?
Answer: No, there are no hidden fees. The cost of the advance is a single, clear fee that is agreed upon upfront, so you know exactly what to expect. The applicable Legal Fees, Admin Fees, and Insurances are deducted from the initial Gross Funder Advance.
8. What happens if the estate has less money than I thought?
Answer: You will not have to pay it back. If the final value of the estate is less than anticipated, the funder assumes that risk. Most advances are a non-recourse transaction, meaning the risk is to the funder.
9. Can an executor who is also a beneficiary apply?
Answer: Yes. We can collaborate with you in both roles to provide an advance on your share of the inheritance.
10. Will my advance impact what other beneficiaries receive?
Answer: No, your advance will not affect the shares of other beneficiaries. Each advance is a separate transaction based on your individual portion of the inheritance.
11. What if there is no will?
Answer: Even if there is no will, you may still be eligible for an advance. We can help you determine your eligibility for an advance based on the legal rules of inheritance.
12. What happens if probate takes a very long time?
Answer: You don’t need to worry. Once you receive your advance, the timeline of the probate process no longer affects you. We will wait for the estate to be settled, no matter how long it takes.
13. How are the advance repaid?
Answer: You don’t have to pay us yourself. When the estate is finalized, the funds are distributed, and our agreed-upon portion is sent directly to us by the estate’s lawyer or executor.
14. What is the advance/loan process?
Answer:
Below is the general process.
- Complete Secure Application & Consent Forms
- Complete Regulatory Compliance ID Verification
- Provide Supporting Documents – A Secure Upload Link will be provided
- Sign Conditional Approval Documents & Complete Brokerage Secondary Digital ID, Fraud, and PEP AML Verification
- Final Document Review by Lender and Lender’s Counsel
- Sign Documents with Lawyer
- Complete
Note: An application and credit report are completed, but NOT for qualification purposes. It is used to identify any potential judgments, bankruptcies, or other issues that could place a lien on the inheritance itself. This is done to protect the funder from unforeseen risks, not to assess your ability to repay.
15. What paperwork do I need to get started?
Answer: To get started, we typically need a copy of the will (if applicable), details about the estate’s assets and liabilities, and other documents to verify your status as a beneficiary.
NEED MORTGAGE FINANCE, REFINANCING,
OR A SECURED ASSET LOAN?
✔ Same Day Response
✔ Fast, Efficient, & Friendly Service
✔ Private Mortgages are based primarily on Equity and the Property
✔ Bad Credit Mortgages are based primarily on Equity and the Property
✔ Traditional & Semi-Traditional Options also available
✔ Equity Based Secured Asset Loans
(The world moves FAST, RESPECTING your time is important.)
Amansad Direct Lending Group