Georgia Inheritance Loans and Probate Advance Law
Probate laws are set by the state, and their purpose is to ensure a person’s wishes for their estate are carried out in accordance with their will. The laws will vary by state and define the length of time a person has to file probate and what signatures are needed along with the requirements for paying creditors and what property must be probated.
What are Georgia Probate Laws?
Georgia probate laws allow for some situations where the estate can be transferred without going through probate. However, even in these instances, certain paperwork must be filed with the court. An administrator or executor must be assigned to the estate to handle all these proceedings. Even in the simplest cases of dispersal of an estate, it can be helpful to have an attorney who is experienced in Georgia probate law. They can ensure the correct documentation is filed for the type of probate you qualify for. They will also notify you of deadlines and help with the process if it is determined the estate must go through probate.
What is the Probate Process in Georgia?
The basic process of going through probate is similar from state to state, but many of the details change. It is important to understand the specifics of probate in Georgia.
- The first step is to present the will to the probate court by the executor who was named in the will.
- The executor will take an oath to be formally recognized for the position. The court will provide documentation allowing the person to act for the estate. The executor will decide what type of probate is necessary. It may be what is known as common form probate which is the simplest type of probate with no court appearances. The other option is solemn form probate, which is the traditional type with appearances in court.
- The next step is for the executor to create an inventory of all assets with their value. They will also determine all expenses to the estate.
- The executor will pay all debts owed by the estate. They will place a notice in the local newspaper.
- Remaining assets are paid out to the listed heirs in the will or any named beneficiaries. The court could overrule the will in certain cases, such as if an updated will had not been made to list children or the spouse of the deceased.
- The probate case is closed after all assets have been distributed.
The executor has a serious responsibility to manage the estate, but they do not own the estate. They cannot sell assets without the approval of the court, and they are only allowed to handle the responsibilities given to them by the court.
What Property Will Go Through Probate in Georgia?
When considering what property will go through probate in Georgia, know that it is possible to avoid probate completely if a revocable trust was created to include all assets of the estate. Bank accounts with a payable upon death or co-owner do not need to go through probate. Also, real estate or other real property with a second owner will not need to be probated. Life insurance, retirement benefits and other assets that have a designated beneficiary may be distributed without probate. This is also dependent on whether there are any contested claims against the will by heirs. If the real estate is owned as Joint Tenants with a Right of Survivorship, the second owner will automatically receive full ownership without probate.
How Can You Avoid Probate in Georgia?
If you plan ahead with your estate, it is possible to avoid probate in Georgia. A living trust will transfer all assets to the beneficiary without the need for court supervision. Probate can be quite costly and time-consuming. It is possible that a case could take years to settle, especially if there are family members who contest the will. A trust can remove much of the complication of settling an estate and allow the assets to be disbursed in weeks instead of months or even years.
How Can You Gain Access to Georgia Inheritance Funds Right Away?
Even if your situation requires for probate, there are ways you can gain access to Georgia inheritance funds immediately. In fact, it could take as little as two days for beneficiaries to receive the money. It requires a probate cash advance, but the process is quite simple and straightforward, and the transaction is secure. There are also no limits on how you can spend the money. ProbateAdvance allows you to get access to your money now instead of waiting for distribution after probate has finished. You won’t receive any hidden charges or fees, and you won’t pay interest or make payments on the money. You do not have to prove good credit or wait for years to get the funds. Instead, you can gain access to a portion of your inheritance in just two days.
Do You Qualify for an Inheritance Cash Advance?
You may qualify for a cash advance on your inheritance if you are heir to an estate. You can get that money now instead of waiting. Use it for a vacation, home remodel or to pay off bills. It can take as little as 48 hours to have the money in your bank account.
What Do You Need for a Probate Advance in Georgia?
You will need to provide documentation for a probate advance in Georgia showing you are the heir to an estate. You will also need to decide how much of the inheritance you want to receive now. It can take just two days to gain access to those funds.
What Areas of Georgia Qualify for an Inheritance Loan?
We provide inheritance loans for people in all parts of Georgia, which include the following cities:
To learn more about probate law in Georgia and the rules on receiving an inheritance, read the following resources:
Georgia Probate Resources
Georgia Inheritance Tax Laws