The Pros and Cons of Inheritance Advances

The Pros and Cons of Inheritance Advances
22 May

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Millions of wealthy Americans have drafted wills which transfer their fortunes to their children and grandchildren. However, any American who has inherited real estate or money from their deceased owners will indicate that the process is both costly and time consuming. Some Americans only receive their inheritance after several months, or even years, of negotiation with an seemingly endless army of judges and lawyers; very few Americans receive their inheritance without encountering these probate problems. Luckily, many Americans have managed their finances so well that they can survive without inheritance advances, inheritance advance loans, and other inheritance loans; they regard the gifted money as a luxury more than a necessity. However, other Americans are either less lucky or less responsible; their spending either exceeded their income (perhaps because they failed to realize that they would not receive their inheritance advances for several months or even years after the death of their loved ones), or unexpected catastrophes (such as illnesses or accidents) prematurely drained their bank accounts. These individuals cannot afford to slog through a lengthy legal battle; they cannot afford to wait months or years to acquire their inheritance advances. Consequently, many of these individuals hire lawyers and law firms who promise to speed up this otherwise protracted process. However, individuals who consider taking this route should know that it is not easy to acquire an inheritance advance; although this process is less protracted than the traditional process, it nonetheless takes several months. Furthermore, many lawyers charge hefty fees for their services, so individuals who desire inheritance advances often relinquish thousands of dollars to these lawyers. Great references here.

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