Can You Get a Probate Loan If You’re the Executor of the Will?
Feature Probate Loan Traditional Loan Based on Inheritance Yes No Credit Check Required No Yes Monthly Payments No Yes Collateral […]
Probate advances (also called inheritance advances or estate advances) provide cash before your inheritance arrives. If you’re waiting months or years for probate to close, an advance can help cover urgent bills, prevent foreclosure, or handle emergency expenses. But they come with significant fees—typically 10-50% of the advance amount. Use my free Inheritance Cost Calculator to see your real costs before you sign anything. I’ll also show you which companies I trust based on my research, and what red flags to watch for.
Feature Probate Loan Traditional Loan Based on Inheritance Yes No Credit Check Required No Yes Monthly Payments No Yes Collateral […]
Factor Description Total Asset Value Overall worth of estate property, investments, and cash. Debt Amount & Type Level of debt
Feature Recourse Agreement Non-Recourse Agreement Liability You may owe money if estate falls short You owe nothing if estate can’t
Option Upfront Cash Credit Check Repayment Required Risk Level Speed Inheritance Advance Partial No No (paid from estate) Low Fast
Feature Inheritance Advance Loan Repayment Taken from estate at probate close Monthly payments until paid off Interest Rate No traditional
Pros Cons Fast access to funds Higher interest rates Avoids selling assets quickly Reduces total inheritance Allows fairer inheritance distribution
Feature Inheritance Advance Probate Loan Personal Loan Repayment From estate From estate Monthly by borrower Credit Check No Sometimes Yes
Option How It Works Speed Credit Check Repayment Cost Probate Advance Cash now, repaid from inheritance Days No At probate
Aspect Probate Lending Selling Your Inheritance Ownership Keep your share after loan repayment Transfer rights permanently Payout Speed Days to
Feature Probate Advance Lawsuit Loan Purpose Early inheritance Funds during the case Eligibility Estate heir/beneficiary Plaintiff has a strong case
Feature Probate Loan Inheritance Advance Traditional Loan Credit Check Sometimes (soft pull) No Yes Repayment Source Estate proceeds Estate proceeds
Pros Cons Quick access to funds High interest rates No credit check needed Reduced inheritance payout No monthly payments during
Feature Probate Advance Traditional Loan Repayment Method Paid from the estate after probate Monthly payments by borrower Credit Check Not
Action What It Means Creditor Claim Formal request to be repaid from estate assets Lawsuit Against Borrower Legal case for
Pros Cons Fast cash in a few days Reduces total inheritance received No credit or income checks Industry is not
Document Name Purpose Letters of Administration Confirms official estate authority Death Certificate Verifies decedent’s passing Valid ID Confirms applicant identity
Feature Probate Loan Inheritance Advance Repayment Required Yes, by heir No, paid by estate Interest Charged Yes, accrues over time