FAQs

Unlike a loan, our inheritance cash advances have: no interest fees, no fixed “due date,” and impose no personal recourse or liability in the event of a payment shortfall.

If your share of the inheritance turns out to be less than anticipated because of

• unforeseen creditors’ claims
• unforeseen heirs’ claims
• a disappointing estate sale
• higher than expected attorney’s fees
• longer than expected court delays

you are NOT liable for any shortfall or deficiency. Eligibility and approval aren’t dependent on your credit score or income. Simply put, an inheritance cash advance is the fastest and easiest way for you to receive and use a portion of your inheritance money right away, without taking out a loan.

Probate expenses usually run anywhere from 3% to 7% of the total value of the estate. This includes court costs, executor’s fees and possible expenses, a surety bond, appraisal fees, plus legal and accounting fees. If there is a “Will contest” expense can run even higher. Regardless, with Parker & Cole you will never be charged any fees.

The probate process can take anywhere from 9 months to over 2 years, depending upon the complexity of the estate, the number of heirs, and the speed of the local court administering the case. If the Will is being contested, probate can drag on for even longer – sometimes taking several years. Some probate scenarios take 2 years or more. Many issues affect the probate time frame – for example the size of the estate, locating beneficiaries listed in the Will, validating the Will, and appointing an executor to the estate if there is no Will to refer to. Parker & Cole can get you funded long before the probate process is completed.

Probate is the legal process by which property owned by a person who is deceased has been passed to his or her heirs after the death. In other words, probate is simply passing title or determining who gets what when someone passes away, either by looking at the will, or if none exist, then under the laws of intestacy, or laws that determine the hierarchy of heirs. In other words, probate affords for overall management and supervision of the distribution of the deceased person’s assets in accordance with the instructions left in a Will or in keeping with the state’s statutes (if a Will does not exist or cannot be located).

Administration of an estate through probate is more expensive and slower than administration under a living trust. Probate transfers legal title of property from the estate of the person who has died (the “decedent”) to his or her legal beneficiaries. Probate involves identifying and inventorying the deceased person’s property, accounting and appraising the property, and then paying taxes and creditors with the deceased’s assets. Jointly owned property and the proceeds of life insurance, retirement accounts, and annuities pass to the surviving joint owner or the named beneficiaries without the necessity of probate. In general, property that the deceased owned individually must move through probate in the usual fashion for ownership to pass to his or her heirs.

The term “probate” refers to a “proving” of the existence of a valid Will or determining and “proving” who one’s legal heirs are if there is no Will (intestate). The process of probate determines who receives the property and/or assets of the deceased. Probate is typically overseen by an executor, if there is a Will, or by the court and a court appointed personal representative if a Will does not exist. An executor is the person assigned to administer the estate. Most jurisdictions require that the executor post a bond to protect the assets of the estate. Simply having a Will does not mean you can dismiss going through probate. Even though the Will makes the process simpler probate is still required for assets in the deceased’s name.

Probate petitions are filed in the county where the decedent was living at the time of death, no matter where the person passed away. Legal hearings are usually scheduled four to six weeks from the date of filing of the petition for probate It is required that notice of the probate hearing be sent to all the decedent’s heirs as well as everyone mentioned in the Will.

To avoid the need for probate, and even a Will, a living trust can be used, assuring that a decedent’s property and assets are transferred to his or her heirs according to the decedent’s wishes. Many families avoid probate in this manner.

The largest advance we provide is $500,000.00. We will advance a substantial PORTION of your expected inheritance, so that if things go as expected, you will receive a substantial upfront advance from us AND receive a significant payment when the estate is finally settled and monies distributed to heirs.

No, The advance will be paid by the estate on a priority basis from your individual beneficial interest.

The advance will be paid by the estate on a priority basis from your individual beneficial interest.

Open probate and upon the order from the court sell the real property.

You will need to be receiving a minimum of $17,000.00 to qualify for an advance.

You may use the money for any purpose and there are no monthly payments to be made.

Parker & Cole offers inheritance advance please call us at (877) 711-0661

The documents required to get an inheritance advance are the Petition for probate, Will (if applicable), order for probate , license/ID/passport, proof of social security number and inventory (if available).

No, a check can be mailed if you do not have a bank account.

The way you allocate your inheritance advance to your financial needs is up to you.

Inheritance taxes are taxes owed by the estate and/or individual beneficiary as a result of receiving an inheritance. Please consult your tax advisor for further information.

If you are already working with a probate attorney please give us a call we may be able to assist you with a cash advance.

No, there are no upfront fees associated with the advance.

Yes, credit is not a requirement for approval.

Yes, employment is not a requirement for approval.

Yes, only the estate must be represented by an attorney

Yes, An inheritance advance is an opportunity to access a portion of  your future inheritance now.

There are no risks to you as the customer. The obligation to pay back the advance is vested in the Estate

Probate takes 9-24 months on average although it may vary depending on the local rules of the state and/or county.

An inheritance advance is an immediate cash advance on a future expected distribution from an inheritance. 

Probate takes 9-24 months on average although it may vary depending on the local rules of the state and/or county.

To apply for an inheritance advance please call us at (877) 711-0661.

Parker & Cole offers cash advances to heirs/beneficiaries of estates tied up in the probate process. P&C offers the customer the ability to receive an immediate cash advance of up to 30% of their expected inheritance with advances available from $5,000.00 to $500,000.00. P&C will file the cash advance contract(s) with the probate court and P&C will be paid when the estate makes a distribution. 

There are no taxes associated with a Probate and/or Inheritance Advance. Please consult your tax advisor for any tax related questions to your upcoming inheritance. 

Estate debt will be calculated to determine if you will qualify for an inheritance advance.

There are no taxes associated with a Probate and/or Inheritance Advance. Please consult your tax advisor for any tax related questions to your upcoming inheritance.

Please check with your local bank and/or credit union, but generally banks won’t make loans secured by a beneficial interest in an estate.

We can work with estates that are selling real property and offer you an immediate cash advance in the interim.

Parker & Cole may still be able to assist you, please call us at (877) 711-0661.

Yes

Our office is located at 1641 Worthington Rd # 410 West Palm Beach, FL 33409. You can call us at (877) 711-0661.

Yes! We provide inheritance advances throughout Florida and across the United States.