An inheritance is created when an individual passes away and leaves an amount of money to his or her heirs. A trust is a property interest, typically an account, held by one person for the benefit of another.
There are times when an inheritance is caught up in probate, or a Trust didn’t anticipate the present needs of the beneficiary. Those most in need of financial assistance may be caught in a legal web, unable to access the funds they need.
Long Wait for Probate
Typically heirs will wait up to a year, sometimes longer, before receiving their inheritance. Some heirs may need the inheritance much sooner. Some may want to use an advance to renovate an estate property, increasing the value when sold. Others may be in a dependent situation, needing immediate assistance.
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