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.
Families often spend months—or even years—waiting out the probate process before they can tap into assets a loved one intended for them. Whether or not the deceased left a will, courts typically pause any final distribution until all debts, taxes, and administrative steps are finished. For many, this delay causes stress, especially if large expenses are piling up. Probate funding, sometimes called a probate cash advance or inheritance advance, offers a possible solution. Below, you’ll find an overview of what this funding is, who can pursue it, and how to get it if you’re qualified.
Probate’s Long Road
When someone dies, their estate often enters probate: a legal procedure that confirms a will (if there’s one), pays off outstanding obligations, and divides what remains among heirs and beneficiaries. If the estate is simple—maybe a bank account, small investments, or a modest property—probate might wrap up in months. But estates with more complex assets, pending debt, or disputes among heirs can remain stuck for a year or more.
Meanwhile, families still cope with day-to-day bills, potential funeral costs, or ongoing property maintenance. Accessing a loved one’s inheritance early might be a relief, and that’s the situation where probate funding comes in. Rather than waiting indefinitely for the court to conclude everything, certain providers like Rockpoint Probate Funding may offer a portion of the expected inheritance up front.
What Probate Funding Entails
A probate advance (or inheritance advance) is different from a standard loan in a few major ways. Instead of requiring monthly repayments or a credit check, the amount is based on the future inheritance’s approximate size. A funder reviews the estate’s documentation, checks the likely share you stand to receive, and then offers cash in exchange for a portion of that share once probate closes. So if you think you’ll eventually inherit $100,000, the funder might propose advancing $20,000 right now. Later, when the court releases your full inheritance, the funder collects its share—plus any agreed-upon fee—and you keep whatever’s left.
The entire point is to give beneficiaries immediate money while the court process takes its time sorting out the estate. Most heirs appreciate that they won’t face monthly bills or high interest; they’re simply trading part of a future inheritance for immediate liquidity.
Who Qualifies for an Advance
Anyone legally involved in probate can usually explore an inheritance advance:
- Beneficiaries: If you’re named in a will to receive a portion of the estate, you could secure funding against that portion.
- Heirs: If there’s no will, but state law entitles you to inherit, you might be able to take advantage of a probate advance too.
- Executors: Those who manage the estate on behalf of a loved one can often apply, especially if they plan to use the money to address estate expenses.
Some folks worry they won’t qualify if the estate is tangled up in debts or if there’s a dispute among family members. But a reputable funder usually only needs enough clarity to estimate how large your share might be—if that projected share looks high enough, the company might approve an advance. Even if you’re unsure, applying might be worth a try if the process is straightforward.
How to Apply
Different providers have their own systems, but Rockpoint Probate Funding, for example, has a simple approach:
- Fill Out an Online Form: You often just need to provide your name, some contact details, and the name of the deceased whose estate you’re set to inherit from.
- Documentation: You share probate court documents, the will (if there is one), and any relevant estate info.
- Review Period: The funder checks out your beneficiary status and estimates the inheritance’s value.
- Approval and Funding: Once approved—often in under 24 hours—you can arrange for funds to be sent directly to your bank account.
Because the decision hinges on the estate’s projected worth, you don’t need to worry about a credit score or large amounts of personal data. You generally won’t wait more than a day or two to learn if you’re approved.
Timing and Approval
By design, a probate advance tends to come through faster than typical loans. Standard lenders might want your credit history, income verification, or collateral. A probate funder is mostly curious about the estate. Once that checks out, you can receive money much sooner than waiting for probate to finalize.
If you’re accustomed to dealing with bank forms, pay stubs, or credit card interest, an inheritance advance can feel like a simpler process. Still, it’s wise to read any contract thoroughly so you understand the fee structure and confirm that the arrangement truly meets your needs.
Flexibility in Using the Funds
One bonus of a probate advance is that you aren’t locked into specific uses. Traditional lenders sometimes impose restrictions, but here you can spend your advance on pressing bills, home improvements, or even everyday costs while you wait for your full inheritance. That said, be mindful that this is still part of an inheritance that won’t be as large later on, since a portion (and fees) go to the funder once probate ends. If you’re expecting to pay estate-related expenses—like property taxes, legal costs, or caretaker fees—this advance might help avoid racking up debt on credit cards.
Weighing Your Options
While an inheritance advance might be a relief for people who need money immediately, it does come with a fee. If probate might close in mere weeks or a month, paying that fee might not seem worthwhile. But if your case looks like it could last half a year or more, the security of having some cash in hand can prevent financial strain.
If you’re not sure whether you qualify, keep in mind that many funders, including Rockpoint, don’t charge to review your application. The process only requires a bit of basic information about your share in the estate. If you get approval, it’s up to you to decide if the advance is worth the cost.
Talk to Rockpoint Probate Funding
Interested in a probate advance, or simply curious about how it might fit your situation? Rockpoint Probate Funding welcomes calls at (888) 263-8588. Agents can answer questions about eligibility or walk you through how to apply. If you’re an executor, a beneficiary, or an heir in line to inherit, you’ll discover if you qualify for immediate assistance.
Ultimately, probate can stretch on long enough to make finances tight for some families. By tapping into an inheritance in advance, you gain access to your rightful funds without hunting for a conventional loan or dealing with complicated interest plans. It’s a chance to stay afloat while the legal side sorts itself out, letting you focus more on settling your loved one’s affairs than on juggling short-term money problems.
