Pennsylvania Inheritance Loans and Probate Advance Law
One of the main questions an heir has is how soon their inheritance will be available to them. The answer to this depends greatly on whether the deceased set up living trust, did estate planning, and had a will. In most cases, estate planning can help avoid probate, but if there no will or the estate was not planned, then probate will most likely be required. But beneficiaries and heirs may not have to wait the typical 12 to 24 months it takes to complete probate. In fact, some heirs will qualify to get their funds in days even while the estate goes through probate.
What Are Pennsylvania Probate Laws?
Pennsylvania probate laws were created to make sure that the property and belongings of the deceased are passed to their heirs in the proper manner. Probate laws protect those who will receive an inheritance, those who are owed a debt by the decedent, and protect the wishes of the deceased. Probate makes sure the estate is divided and distributed the way the deceased wanted.
If you are planning your estate or if you have been appointed as the executor or administrator of the estate, an attorney can help. Attorneys and law firms that focus on wills and estates know how to use estate planning to avoid heavy tax burdens and to help ensure your wishes are fulfilled, and they know the probate process and the best way to carry out your duties. An attorney can help you complete all required forms and ensure you get the signatures you need to be able to file documents with the court within the established deadlines.
What is The Probate Process in Pennsylvania?
The probate process in Pennsylvania is like the process established in other states. First, the executor must be assigned and file a petition for probate that requests the court to open a probate case. The executor will prove the will valid if need be, and then give notice to all interested parties that probate has been started. If an executor is not named in the will, the court will appoint a personal representative to perform the necessary duties.
The executor will gather and inventory all the assets of the estate and have the value of the estate appraised. Public notice is posted for a certain period of time to allow creditors a chance to file a claim against the estate for debts owed. The final taxes of the deceased with also be paid from the estate. After all debts and taxes are paid from the estate, the benefactors and heirs are given their inheritance. If there is no will, then after debts and taxes are paid, the court will determine how the estate is divided among the heirs according to Pennsylvania law.
What Property Will Go Through Probate in Pennsylvania?
Property that will go through probate in Pennsylvania includes all property that is in only the decedent’s name. For example, a property that is held in joint tenancy with someone else probably won’t have to go through probate, and any assets that have a designated beneficiary probably won’t go through probate, nor will assets that are included in a living trust.
For example, homes and vehicles can transfer automatically to beneficiaries, as can 401(k) and bank accounts and life insurance policies. An attorney can help you determine what property or assets should be held in trust and which can bypass probate according to Pennsylvania laws.
How Can You Avoid Probate in Pennsylvania?
You can avoid probate in Pennsylvania through estate planning. A well-planned estate can alleviate your heirs from facing a high tax burden and costly fees and expenses that can sometimes be incurred in the probate process and significantly reduce the amount of time it takes for your belongings to reach your heirs. By establishing a living trust, your assets can be transferred automatically, without probate, to your beneficiaries when you die or are no longer able to manage the trust. If you are an heir, there is really nothing you can do to avoid the estate going through probate, but there may be a way for you to access your inheritance while it is stuck in the probate process.
How Can You Access Pennsylvania Inheritance Funds Immediately?
You can access Pennsylvania inheritance funds immediately through a cash advance from Probate Advance. Qualifying beneficiaries and heirs to an estate may be eligible to get access to their inheritance in two days. You shouldn’t have to wait for what your benefactor wanted you to have, and with Probate Advance, you don’t have to. You can get your inheritance quickly by just answering a few questions. Best of all, your inheritance advance is not a loan, so there’s no credit check, no payment plans, no interest, and no hidden fees. Essentially, we wait for the probate process to finish, so you don’t have to.
Do You Qualify for a Pennsylvania Inheritance Cash Advance?
Finding out if you qualify for a Pennsylvania inheritance cash advance can be as simple as filling out the form and answering a few questions. We quickly determine if you are eligible for an advance and issue your funds. It’s as easy as that. Most beneficiaries who expect to receive at least a $12,000 inheritance will qualify to receive their funds in 24 to 48 hours.
What Do You Need for a Probate Advance in Pennsylvania?
All you need for a probate advance in Pennsylvania is to be an heir or beneficiary to an estate that is currently going through probate. We need some basic information to confirm that you are a beneficiary and then we can issue your check or transfer your deposit. All you have to do to get started is fill out the form or give us a call, and you can have your inheritance funds in two days.
What Areas of Pennsylvania Qualify for an Inheritance Loan?
We offer inheritance loans in all cities in Pennsylvania, including but not limited to:
To learn more about Pennsylvania probate laws and the rules on inheritances, check out our resources.