One of the most efficient tools for avoiding probate is life insurance. When set up properly, life insurance can provide immediate financial relief to beneficiaries without the delays and legal fees associated with probate court.

Life insurance proceeds are typically paid directly to named beneficiaries, bypassing the estate entirely. This means that as long as the policy is up to date and the beneficiary designation is clear, the payout is fast and straightforward.

For estate planners, life insurance can serve as a strategic method for passing on wealth quickly. It can also be used to cover taxes, debts, or provide liquidity to heirs when other assets like real estate or business holdings are tied up in probate.

However, if no beneficiary is named or if the estate is listed as the beneficiary, the policy proceeds may be subjected to probate, defeating the purpose. That’s why regularly reviewing beneficiary designations is essential.

If you’re waiting on a life insurance payout that’s delayed or tied up in an estate, an inheritance advance from Approved Inheritance Cash can help you get the funds you need—so you don’t have to wait months or even years.