Disclaimer: Consumer legal fundings and advances are not loans under applicable financing laws. Rockpoint’s products are non-recourse, meaning if you don’t win your case, you don’t have to pay us back. Receiving financial support in connection with a legal case is typically (and oftentimes incorrectly) referred to as a “lawsuit loan” or “loan.” Therefore, for the ease of search references, these terms may be used in this context to refer to our funding products, but we maintain our separateness from consumer loan products in all legal aspects.
Did you know you may not immediately collect an inheritance from a loved one? The probate process typically takes at least a few months; in some cases, it can take several years to conclude. In the meantime, consider applying for probate funding through an inheritance cash advance service.
But first, learn the answer to the question, “Can beneficiaries apply for probate funding?” This can help you decide whether filling out a beneficiary application for a probate loan is the right move to make in your situation.
What Is a Beneficiary?
A beneficiary is a person or organization set to receive assets or other benefits from someone who has died as designated in their will. A beneficiary is different from an heir in that an heir qualification often requires a person to have a direct relation to the deceased.
The following are some common examples of beneficiaries:
- Relatives
- Friends
- Neighbors
- Business partners
- Charitable organizations
Whatever the case, people and organizations may discover they have been named as beneficiaries in a person’s will when an executor notifies them. As a beneficiary, you’re entitled to collect the assets or benefits a person left behind for you after the probate process.
Can a Beneficiary Apply for a Probate Advance?
The probate process is designed to authenticate and validate a person’s will before its executor can legally distribute assets to beneficiaries. While it’s an important step in settling the affairs of the deceased, it’s time consuming and can prevent beneficiaries from acquiring assets quickly.
This is when you should stop to ask yourself, “Can a beneficiary apply for probate funding?” You’ll appreciate knowing the answer to this question is “yes.”
As you wait for the probate process to finish, you can apply for a probate advance. Also known as an inheritance advance, it provides the cash you need now in exchange for a percentage of the assets you will receive later.
Probate advances were specifically created to help beneficiaries who cannot afford to wait long to receive inheritances from loved ones.
When Should a Beneficiary Apply for Early Inheritance Funding?
If you’re in great financial shape, you might not need to worry about asking the question, “Can beneficiaries apply for probate funding?” You can wait to collect an inheritance from a loved one without having to apply for early inheritance funding.
If, however, you’re struggling financially, you’re welcome to apply for probate funding. Give serious thought to doing it when you find yourself in one of these scenarios:
- You’ve fallen behind on bills, and a probate advance can help you catch up.
- You plan to use an inheritance to buy a new home or go back to school and want to do it sooner rather than later.
- You owe back taxes and want to prevent interest and penalties from accumulating while waiting for an inheritance to arrive.
The probate process is long and arduous. The executor of a will must stay the course while taking care of estate tax obligations. Avoid having to wait for this process to end by experiencing the financial relief that a probate advance can provide.
Where Should a Beneficiary Seek Financial Relief During the Probate Process?
The so-called “Great Wealth Transfer” is currently taking place in the U.S. By the time it ends, nearly $85 trillion will move from the baby boomers and Silent Generation to the generations born after them.
Because of this, the probate funding industry is growing substantially. You won’t have any shortage of options when searching for lenders to provide you with probate loans.
So, which probate funding company should you trust to deliver the probate advance you need? Here are some qualities the lender you choose should have:
- A wealth of experience within the probate funding industry
- A long list of positive client reviews and testimonials
- Probate funding options that don’t require monthly payments or interest rates
- A knowledgeable customer service team that can answer questions like, “Can beneficiaries apply for probate funding?”
Rockpoint Probate Funding is the company you can count on for a probate advance. Outside of offering financial relief to those who have lost loved ones, we make applying for a probate loan simple. Additionally, we can deposit the cash you need into your bank account within just days.
What Is Needed To Complete a Beneficiary Application for Probate Funding?
If you’re interested in applying for a probate advance through Rockpoint Probate Funding, our beneficiary application is straightforward. Here is the information you will need to fill out an application:
- Your name and address
- Your phone number and email address
- The name of the person you’re inheriting assets from
Once you’ve filled out an application, we’ll review it and let you know if you’re approved for a probate loan right away. In many cases, we can approve beneficiaries for probate funding within hours and deposit their funds a day or two later. This may make you wonder why you didn’t pursue this option sooner.
Fill Out an Application for a Probate Loan Here
After learning the answer to the question, “Can beneficiaries apply for probate funding?” are you ready to fill out an application in the hopes of being approved for a probate advance? Rockpoint Probate Funding can lend a hand. We can also provide invaluable information on other probate-related topics, such as selling real estate during probate.
Give us a call at (888) 263-8588 today if you have any further questions or concerns about applying for early inheritance funding.
