Inheriting a home can be one of the most valuable parts of an estate, but discovering that the property still has a mortgage can make the situation considerably more complicated. The house may be worth hundreds of thousands of dollars, yet that does not necessarily mean the beneficiaries suddenly have access to that money. The...
When someone tells you that an estate has entered probate, it is easy to assume that receiving your inheritance is simply a matter of waiting a few weeks or months. Unfortunately, probate does not always follow a predictable schedule. Beneficiaries can find themselves waiting much longer than expected, especially when an estate involves real estate,...
August is a good time for heirs to step back and review their financial situation. Summer is ending, school costs may be starting, bills are still coming in, and many probate cases that began earlier in the year may still be pending. If you are waiting on an inheritance, this is a smart time to...
When probate takes longer than expected, heirs may start looking for ways to access cash. Two options that often come up are a traditional loan and an inheritance advance. They may both provide money, but they are not the same. A traditional loan is usually based on credit, income, debt, and the borrower’s ability to...
At the beginning of probate, heirs often ask one question first: “How long will this take?” Sometimes they receive an estimate. Maybe someone says six months. Maybe a year. Maybe sooner if everything is simple. But in probate, the first timeline is not always the final timeline. This can be frustrating for heirs who are...
Moving is expensive, and probate can make it even harder. An heir may need to move after a loved one passes away, after a family home is sold, or while waiting for estate property to be settled. The problem is that moving costs often happen before the inheritance is distributed. There are many reasons an...
Executors and administrators have a difficult job. They are responsible for helping move an estate through the probate process, collecting information, working with professionals, communicating with heirs, and making sure the estate is handled properly. At the same time, heirs may be asking when they will receive money. That pressure can become uncomfortable. An heir...
Probate can test even strong families. After a loved one passes away, heirs may be grieving, sorting through belongings, discussing money, and waiting for legal steps to move forward. Under that kind of pressure, communication can break down quickly. At first, everyone may say they want the same thing. They want the estate handled fairly....
Back to school season can be expensive for any family. Clothes, supplies, technology, transportation, tuition, childcare, sports fees, and everyday household costs can add up quickly. For families waiting on an inheritance, August can be especially stressful. An heir may know that money is coming from an estate, but probate may not be finished yet....
One of the most frustrating parts of probate is knowing that an estate has money, but heirs still cannot access it. The bank accounts may exist. The house may have equity. The investment account may be listed. The inheritance may be expected. But until the legal process is ready, the money may remain out of...