Heir Advance

Probate is the legal process of settling an estate once your loved one has passed.

During the probate process a representative for the estate will typically liquidate any assets of the Estate; such as real property, or bank accounts in the decedents name. They will also settle any debts of the decedent. All done under court supervision. This process can take anywhere from a year to two years or longer, before an inheritance can be distributed to the heirs.

To receive cash now from an inheritance, a beneficiary assigns a portion of their future inheritance to A.I.C. in exchange for an immediate cash payment.

At the end of probate A.I.C. is repaid by the estate, not the beneficiary or heir.

Since this is not a loan, no interest payments are ever due.

Creditors must be notified and legal notices published.
Executors of the will must be guided in how and when to distribute assets and how to take creditors’ rights into account.
A Petition to appoint a personal representative may need to be filed and letters of administration obtained. A Grant of Letters of Administration can be used as proof that the ‘Administrator’ is entitled to handle the assets[12].
Homestead property, which follows its own set of unique rules in states like Florida, must be dealt with separately from other assets.[13] In many common law jurisdictions such as Canada, parts of the US, the UK, Australia and India, jointly owned property passes automatically to the surviving joint owner separately from any will, unless the equitable title is held as tenants in common.
There are time factors involved in filing and objecting to claims against the estate.
There may be a lawsuit pending over the decedent’s death or there may have been pending suits that are now continuing. There may be separate procedures required in contentious probate cases.
Real estate or other property may need to be sold to effect correct distribution of assets pursuant to the will or merely to pay debts.
Estate taxes, gift taxes or inheritance taxes must be considered if the estate exceeds certain thresholds.
Costs of the administration including ordinary taxation such as income tax on interest and property taxation is deducted from assets in the estate before distribution by the executors of the will.
Other assets may simply need to be transferred from the deceased to his or her beneficiaries, such as life insurance. Other assets may have pay on death or transfer on death designations, which avoids probate.

Eligibility

You must be an heir or beneficiary of an estate.
The estate must be in probate
The heir or beneficiary must be eligible to inherit $15,000 or more

For More Info: https://en.m.wikipedia.org/wiki/Probate

Heir Advance

Eligibility

AIC helps beneficiaries, heirs, trustees and administrators Nationwide gain access to inheritance funds that are locked in probate or trusts.

Services

Connect