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"Personal Services with Results" 

"Inheritance Funding FAQ’s "

Q: How Long does a Typical Probate Case?
A: A typical probate takes 9-15 months to distribute once the case is open. The heirs do not receive their inheritance until the assets are liquidated, the creditors ' claims are satisfied, and the estate taxes are paid; only then can an order to distribute the estate be approved by the probate court.

Q: What are the three core pre-qualification criteria to receive a Probate Advance?
A: Prospective clients who meet three core pre-qualification criteria:
     • The heir ' s inheritance is currently in probate with an attorney involved
     • The heir expects to inherit at least $17,000 when probate distributes
     • The heir is interested in obtaining an advance on his or her inheritance  

Q: What is the cost of the advance?
A: The cost of the advance depends upon the complexity of the estate and the estimated time to distribution. As a general rule of thumb, RBRI money sources pays anywhere from 50 to 75 cents on the dollar.  

Q: Do I have to have good credit to receive an advance on my inheritance?
A:  No credit or employment is needed to qualify. RBRI money sources advances up to 30% of the projected final cash distribution to the heir.

Q: How Long does a Typical Probate Case?
A: A typical probate takes 9-15 months to distribute once the case is open. The heirs do not receive their inheritance until the assets are liquidated, the creditors ' claims are satisfied, and the estate taxes are paid; only then can an order to distribute the estate be approved by the probate court.  

Q: What are the three core prequalification criteria to receive a Probate Advance?
A: Prospective clients who meet three core prequalification criteria:

    • The heir ' s inheritance is currently in probate with an attorney involved
    • The heir expects to inherit at least $17,000 when probate distributes
    • The heir is interested in obtaining an advance on his or her inheritance
 

Q: What is the cost of the advance?
A: The cost of the advance depends upon the complexity of the estate and the estimated time to distribution. As a general rule of thumb, RBRI money sources pays anywhere from 50 to 75 cents on the dollar.
 

Q: Do I have to have good credit to receive an advance on my inheritance?
A:  No credit or employment is needed to qualify. RBRI money sources advances up to 30% of the projected final cash distribution to the heir.
 

Q: Who is eligible to receive a cash advance through RBRI?
A: An heir who will be inheriting at least $17,000 from a probate which is already
open or is in the process of being opened.  

Q. What does RBRI receive in return for the cash advance?
A: In return for a present cash payment from one of RBRI’s money sources, the heir sells to the money source (technically, "assigns") the right to receive a fixed amount of money out of the heir ' s share of the probate estate distribution.

Q: When does RBRI money source get paid?
A: RBRI’s money source is paid directly from the estate upon distribution. The rest of the inheritance is distributed directly to the heir. An heir never directly makes nor is responsible for any payments.  

Q: Are there any application fees?
A: No. There is no cost or obligation to apply for the advance.

Q: Will credit problems prevent an heir from getting an advance?
A: RBRI obtains a credit report in preparing a case for funding, primarily to determine that there are no judgments, child support or bankruptcy proceedings that might interfere with payment of the assignment. A poor credit record alone, including delinquencies, discharges in bankruptcy, foreclosures, etc., will generally not prevent an heir from receiving an advance.  

Q: Are monthly payments required to repay the advance?
A: No. RBRI’s money source is paid directly and in full from the estate at the time distribution is authorized.  

Q: What if there are insufficient funds in the probate estate to pay RBRI?
A: This is one of the risks RBRI assumes when it accepts an assignment from an heir.  The heir who gives true information on the application and honors the assignment agreement has no personal liability for payment of the advance.

Q: What happens if a previously unknown creditor makes a claim on the estate? A: This is a risk that RBRI source takes. If there are not sufficient assets at the end of the probate to cover the amount of the assignment, then RBRI takes the loss. The heir is not liable to pay back the assignment unless, of course, the heir was aware of the claim(s) and failed to tell RBRI about it in the application process.  

Q: What happens if the distribution of the probate estate is delayed?
A: RBRI’s source must wait until the estate is ready to distribute. There is no recourse to the funded heir for any delays in the distribution. The assignment does not accrue interest or go up in value, no matter how long the distribution is delayed.  

Q: Are there any geographic limitations on funding?
A: Yes. RBRI’s money sources can only work with assets that are being probated in the United States .

Q: What if the probate estate is in a different state?
A: It is common for the heirs of a probate estate to reside in a state different from the deceased ' s state. This rarely causes a difficulty.  

Q: What are the criteria that determine the cost of an advance from RBRI?
A: The size of the advance, complexity of the probate estate, and the estimated time to distribution are the major factors affecting pricing.
 

Q: Are there minimums and maximums for cash advanced by RBRI to an heir? A: RBRI's advances normally range from $5,000 to $100,000. As a rough rule of thumb, assume the advance cannot exceed 30% of an heir ' s expected distribution from an estate.

Q: How does an heir apply for an advance on an inheritance?
A: Fill out a short form called an “FUNDING FORM” found on this website or contact us to get one email or faxed to you. Then send the completed form to RBRI, together with copies of personal identification and relevant probate documents, to the extent you have them available.

Q: Who should I call if I have any questions about RBRI or want to make a referral? A: For questions, call any Funding Officer at (314) 719-7190.  Referrals of heirs or beneficiaries may be directed to any Funding Officer at the above telephone number.

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Ray Bartle Realty & Investments

5751 DeGiverville Avenue
St Louis, Missouri 63112

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