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Web sites offering "probate advances" to heirs. Legit?

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Carly Corday

Junior Member
What is the name of your state (only U.S. law)? OKLAHOMA (estate), ARKANSAS (my residence), MISSOURI (administrator's residence).

Are these web sites that offer to get heirs an advance on their inheritance legitimate? Can an heir using a service like this get their entire inheritance at once, minus the (likely HIGH) percentage taken by the company? Is it all legal and safe?

This would be wonderful for me, as an heir less concerned with getting every dime of my inheritance than I am with getting out of this long nightmare, putting the whole topic of my late mother's estate behind me forever. I will do it in a second, if it's legit. I'd give them 50% if I could be done with this.

My mother's will has been probated, I am a one-third heir, waiting for the administrator (another one-third heir) to finally be forced to give an accounting and divide the proceeds from the estate among the other two heirs.

Thanks.
 


tranquility

Senior Member
Some certainly are legitimate, but there are two problems. One, as you said, is the high interest. The second is the fact that you may not be guaranteed the money after probate. That's one of the reasons probate can take a while. To determine the actual value and the actual ownership. If the probate does not cover the loan, you have a high interest debt sitting out there.
 

anteater

Senior Member
Just to add...

The guys making these advances aren't ones to take much in the way of chances. (Not like mortgage brokers in the no doc mortgage hey day.) They will look pretty closely at the probate file and contact the estate attorney. If something doesn't smell right, the final terms offered may be less favorable than the "headlines." And they might just decide to pass.
 

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