An inheritance advance, also known as a probate advance or a probate cash advance, is a loan for the amount you are set to receive in an inheritance.
The American Bar Association reports the average probate process takes between six to nine months. But in some instances, this process can drag on for well over a year and sometimes even multiple years. If your family is stuck in the middle of a lengthy probate process, consider trying to qualify for an inheritance advance.
An inheritance advance can come in handy when you need cash now and can’t wait for the probate process to end to secure an inheritance from a loved one. Discover more about what an inheritance advance is, how one works, and what you can use it for below.
What Is an Inheritance Advance?
According to a 2023 survey, almost 50 million American households plan to leave inheritances to their heirs over the next 20 years. These inheritances are expected to total a whopping $17.5 billion.
Unfortunately, many heirs won’t have the opportunity to secure these inheritances right away when their loved ones die. They’ll need to spend months and sometimes even years in probate courts throughout the U.S. validating wills and settling familial disputes before earning the inheritances that are rightfully theirs.
An inheritance advance is a financial tool you can use to prevent the probate process from limiting your ability to gain access to the funds coming your way. As long as you qualify for one, you can have a probate advance deposited in your bank account quickly so that you can start enjoying an inheritance today as opposed to waiting months for it to arrive.
How Does an Inheritance Advance Work?
If you’re interested in securing an inheritance advance, the first thing you’ll need to do is track down a company that focuses solely on providing people with probate advances. Inheritance Advance is a great example of a company that can provide the probate cash advance you need.
From there, simply follow these steps to find out if you qualify for one:
- Schedule a free consultation with Inheritance Advance to discover more about probate cash advances.
- Provide Inheritance Advance with a copy of your loved one’s will along with the probate paperwork you’ve filed.
- Give Inheritance Advance the chance to review your documentation and decide if you’re eligible for a probate loan.
Unlike the probate process, this process will play out within a matter of just hours in many cases. If you qualify for a probate cash advance through Inheritance Advance, you may have your funds deposited in your account within 24 hours.
Just make sure you understand that you will need to repay a probate advance using the inheritance you receive from a loved one as a beneficiary listed in their will. Inheritance Advance can explain how this part of the process works during your initial consultation.
What Can You Use an Inheritance Advance For?
The beauty of an inheritance advance is that there isn’t any limit on what you can do with it once you qualify for one. You can use it just like you would use the inheritance you’re set to receive from a loved one.
Here are some steps many choose to take with inheritances and, by extension, inheritance advances after securing them:
- Paying off debt (the average American now has over $100,000 worth of debt, according to a 2024 Business Insider report)
- Covering the costs of medical bills (more than 20 million Americans have medical debt at the moment)
- Tackling important home improvement repairs (almost 60% of Americans admit to putting off at least one major home improvement repair because of cost concerns)
The last thing you want to do is face financial hardships while mourning a loved one’s loss. A probate advance can help you avoid these issues by delivering the cash you need now instead of forcing you to wait until later to access it.
Who Should You Trust for an Inheritance Advance?
Many Americans have seen just how useful inheritance advances are. This has led to a spike in the number of companies that can provide them to those going through the probate process. You might find that locating the right lender can cause confusion and possibly put your future inheritance at risk if you select the wrong option.
Inheritance Advance is here to help make this entire situation easier. Our process makes it simple to secure the probate cash advance you need fast without having to navigate through too much paperwork.
Contact Us To See If You Qualify for an Inheritance Advance
Do you want to learn more about probate advances and how they could benefit you? Reach out to Rockpoint Probate Funding at (888) 263-8588 today to speak with an experienced representative about our probate cash advances so that you can make an informed decision on whether or not to apply for one.
