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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.
_______________________________________________________
Contact
us TODAY!
Ray Bartle Realty & Investments
5751 DeGiverville Avenue
St Louis, Missouri 63112
(314) 603-7862 - Phone
(314) 875-0036 - Fax
sharron@bartleonline.com
- Email
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