Iowa Inheritance Loans and Probate Advance Law
One of the first questions you may have after learning you are an heir or beneficiary in a will is how soon you will get your inheritance. But the answer to that question isn’t always easy to answer. The fact is, if the deceased worked with a wills and estates attorney, then there is a chance that you won’t have to wait very long for your funds, but if the estate was not planned, it would probably have to go through probate, and you may have to wait to access your funds for a long time. In fact, probate often takes an average of 12 months to complete, and if someone contests the will, the process may last far longer. But this doesn’t mean that you have to wait that long to get your funds. Many heirs will qualify for an inheritance advance and get their funds in about two days.
What Are Iowa Probate Laws?
Iowa probate laws are in place to protect the interests of the deceased, their heirs, and those who are owed a debt by the deceased. The process ensures the estate of the deceased is handled in the proper, legal manner according to the directives included in the decedent’s will.
As with other areas of the law, if you are planning your estate, or if you have been appointed the executor of a will, an attorney can help. A lawyer who focuses on wills and estates knows the ins and outs of the law, and how you can best plan your estate to maximize the benefits to your benefactors. Your attorney will know how to guide you through estate planning and how to set up living trusts. They will also be able to guide the executor through the complex legal process that is probate and ensure that all court required documents are completed properly and within the established deadlines.
What is The Probate Process in Iowa?
The probate process in Iowa can be relatively simple depending on the size of the estate and whether more than the personal property is owned. The core of the probate process is pretty the same in all states. An executor is designated in the will or by the court to manage the estate throughout the probate process. The executor will need to complete all court filings within a specific amount of time, and prove the will is valid.
Once validated, the estate will need to be inventoried and appraised for value. The executor will identify all assets belonging to the estate and their worth and provide this to the probate court. Public notice is posted for a certain amount of time to let creditors make a claim for owed debts, and all final taxes must be paid from the estate. What remains of the estate is then divided and delivered to its beneficiaries. If the deceased did not leave a will, their estate would be divided by the court according to Iowa law.
What Property Will Go Through Probate in Iowa?
Property that will go through probate in Iowa includes property that is not held jointly or in trust, or that does not have a designated beneficiary. Assets such as life insurance policies, IRA accounts, and 401(k) accounts can all have beneficiary designations and transfer automatically, outside of probate. Property like vehicles, real estate, and some personal property can be transferred to beneficiaries also, outside of probate, but only if the estate is set up this way. If there is no will, and the estate consists of more than personal property, and the value of the estate is above a certain threshold than probate will most likely be required.
How Can You Avoid Probate in Iowa?
The best way to avoid probate in Iowa is through estate planning. When an estate is well planned, you can reduce the taxes and fees that often accompany the transfer of property, and ensure your beneficiaries receive their inheritance quickly and efficiency. For some, working to avoid probate can actually increase taxes and fees. An attorney can help you determine the most effective method for your specific circumstance. One of the ways that may work for you is a living trust. With this type of trust, you can assign your assets to someone else while remaining in control of those assets until you die.
How Can You Access Iowa Inheritance Funds Immediately?
To access Iowa inheritance funds immediately, contact Probate Advance. There’s no reason to wait for your inheritance funds when you may qualify to get them in as little as 48 hours. And the best part is, you can find out if you qualify by simply answering a few simple questions. If you qualify for an inheritance cash advance, you can receive your money in 48 hours or less. Your credit doesn’t matter because this isn’t a loan, so there are no loan applications, no repayment plans, and no interest charges. With Probate Advance, heirs and beneficiaries don’t have to wait for probate to access their inheritance. You can have your funds in a couple of days. Just fill out the form to find out if you qualify.
Do You Qualify for an Iowa Inheritance Cash Advance?
To learn if you qualify for an Iowa inheritance cash advance, just fill out the form or give us all. We only need basic information to determine your eligibility for a cash advance. Typically, an heir or beneficiary qualifies if they are bequeathed $12,000 or more.
What Do You Need for a Probate Advance in Iowa?
What you need for a probate advance in Iowa is to be a legitimate heir or beneficiary of an estate. We need some basic information from you to be able to confirm that you are a beneficiary of an estate and to know how you want to receive your funds. With Probate Advance, you don’t have to wait for your inheritance; you can have it in your account in a matter of days.
What Areas of Iowa Qualify for an Inheritance Loan?
We offer inheritance loans in all cities in Iowa, including but not limited to:
- Des Moines
- Cedar Rapids
- Sioux City
- Iowa City
To learn more about Iowa probate laws and the rules on inheritances, check out our resources.