Quick Summary: Getting Your Inheritance Early
You can access your inheritance before probate finishes by using an inheritance advance. Unlike a loan, an inheritance advance is an assignment of a portion of your future distribution. This process typically requires no credit check, involves no monthly payments, and can provide funds in as little as two days. It allows heirs to bypass the 9–18 month probate delay to cover immediate expenses like tuition or bills.
Key Takeaways:
- Not a Loan: No monthly payments or personal liability; repaid by the estate.
- Fast Funding: Funds often arrive via wire transfer within 48 hours.
- No Credit Check: Approval is based on estate value, not your credit score.
- Risk-Free: If the estate fails to pay, you do not owe the provider back.
When my Dad passed away after a long battle with cancer, it was a relief that his suffering was over, but I was not prepared for the impact it would have on me. Fortunately, I had a brother I could rely on to make the arrangements, but we quickly had to start making decisions about his estate.
While researching what to do after someone dies, my brother found out about inheritance advances—something I didn’t even know existed. Here is how the process worked for me and how I got my cash while the estate was still in probate.
It’s Not a Loan
We found out that there are companies that provide inheritance advances, which do not need to be paid back because they are not loans. These companies assess the value of the estate and the likelihood of probate closing, then they advance the money. These companies make their money when probate finally closes and collect the portion that’s agreed on in the contract.
It Could Bring Me Peace of Mind
Even though my dad’s will was clear, I learned probate was going to take much longer than I expected. I really needed that inheritance cash as soon as possible to pay for my son’s college semester. An inheritance advance was exactly what I needed.
I went with a company that was easy to work with and had a short form on their website. They scheduled a call and walked me through the process. It was simple: they just asked questions about my dad’s estate and confirmed I could get an advance immediately.
My Mediocre Credit Score Didn’t Matter
I was worried my bad credit rating would be a problem, but a credit check was not required. They just looked at the estate in probate—specifically the value and legal standing of the assets (like the house). After a quick call and uploading a few documents from my phone, I was approved the next day.
The Dollars and Sense of My Advance
They estimated my inheritance at $160,000 and offered an advance of up to 40%. I chose to take $65,000. Their fees were fair, and the money appeared in my checking account within two days. While my brother is still waiting for probate to resolve months later, I was able to pay for school and plan a trip for my family.
Frequently Asked Questions
Yes. Because an inheritance advance is based on the value of the estate rather than your personal financial history, most providers do not require a credit check or proof of employment.
While probate can take a year or more, an advance can be completed quickly. After submitting the necessary estate documents, funds are often wired to your bank account within 2 to 5 business days.
No. A probate loan requires monthly interest payments and personal liability. An inheritance advance is a “non-recourse” purchase of a portion of your inheritance; the provider takes the risk and is paid directly by the estate when it closes.