For many years our company has been providing probate loans to probate estates and assisting probate attorneys and executors obtain the necessary funds to properly care for estates.
We work with you in assisting your client/beneficiary in obtaining a necessary probate loan. We can advise you as to what the court required documentation will be. We are well versed in the preparation of the necessary documents to obtain court orders. We can be a valuable partner in getting the money needed for the estate or beneficiary.
When the need arises that required funds or desired funds are needed from an estate our probate loans can provide needed funds prior to the completion and settlement of a probate. An administrator, executor, attorney or beneficiary can initiate the request to obtain a probate loan. The executor for the estate must have been issued Letters of Administration which empower the executor to the estate make necessary decisions such as obtaining a probate loan.
If your firm has many outstanding probate files that are comprised of mostly real estate only estates and there exists a substantial amount of unpaid attorney fees we can improve your firm’s cash flow, put money in the pocket of the beneficiary and make everyone happy. When the need arises happy clients often refer other people for legal services, so a probate loan could lead to added good will for your firm and might lead to more clients in the future.
Give your firm a competitive advantage against your competitors by offering your probate clients the option to “get the money now”. We can step in and give you an edge against your competitors and help make you look good in front of your clients.
Probate Loan Funds
If you have a probate client who needs “Cash Now” we can lend them money prior to the final distribution of the estate. The funds derived from our probate loans can be used for most any purpose such as:
- Paying outstanding attorney fees
- Paying any court costs or fees
- Paying monthly payments or paying off in full creditors of the estate or beneficiary
- Making any necessary or desired property repairs to the properties owned by the estate
- Paying taxes or other obligations owing by the estate
- Paying funeral and burial expenses of the deceased
- Paying ongoing expenses owing by the estate
- Paying claims submitted by the executor of the estate
- Paying professional expenses such as accountants for preparing estate tax returns
- Paying preliminary distribution to one or more beneficiary to the estate
Interest Impound Reserves
Typically most of the probate loans that we fund can be “Overfunded” to set up an interest impound reserve account to cover required monthly interest payments due until the probate receives the Order for Final Distribution from the probate court. If there are any unused funds remaining in the interest impound account then the money can be distributed as estate proceeds due to the Beneficiary.