Q: Who is eligible to receive a cash advance?
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 is received in return for the cash advance?
A: In return for a present cash payment, the heir sells to (technically,
"assigns to") the right to receive a fixed amount of money out of their
heir's share of the probate estate.
Q: When does LCF get paid?
A: LCF 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: LCF obtains a credit report in preparing a case for funding, primarily
to determine that there are no judgements, 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 and
advance.
Q: Are monthly payments required to repay the advance?
A. No, LCF is paid directly and in full from the estate at the time
distribution is authorized
: What if there are insufficient funds in the probate estate to pay LCF?
A: This is one of the risks LCF 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: The is a risk that LCF takes. If there are not sufficient assets at the
end of the probate to cover the amount of the assignment, then LCF
takes the loss. The heir is not liable to pay back the assignment unless
of course, the heir was aware of the claim and failed to tell LCF about it
in teh application process.
Q: What happens if the distribution of the probate estate is delayed?
A: LCF 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. LCF 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 state. This rarely causes a difficulty.
Q: What is the criteria that determine the cost of an advance from LCF?
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 LCF to an
heir?
A: LCF's advances normally range from $5,000 to $100,000. As a rough
rule of thumb, assume the advance can not 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 and we will contact
Q: Who should I call if I have any questions?
A: Contact LCF via email info@lhcfunding.com or phone 562-239-3635
Apply today for an advance
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 is received in return for the cash advance?
A: In return for a present cash payment, the heir sells to (technically,
"assigns to") the right to receive a fixed amount of money out of their
heir's share of the probate estate.
Q: When does LCF get paid?
A: LCF 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: LCF obtains a credit report in preparing a case for funding, primarily
to determine that there are no judgements, 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 and
advance.
Q: Are monthly payments required to repay the advance?
A. No, LCF is paid directly and in full from the estate at the time
distribution is authorized
: What if there are insufficient funds in the probate estate to pay LCF?
A: This is one of the risks LCF 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: The is a risk that LCF takes. If there are not sufficient assets at the
end of the probate to cover the amount of the assignment, then LCF
takes the loss. The heir is not liable to pay back the assignment unless
of course, the heir was aware of the claim and failed to tell LCF about it
in teh application process.
Q: What happens if the distribution of the probate estate is delayed?
A: LCF 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. LCF 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 state. This rarely causes a difficulty.
Q: What is the criteria that determine the cost of an advance from LCF?
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 LCF to an
heir?
A: LCF's advances normally range from $5,000 to $100,000. As a rough
rule of thumb, assume the advance can not 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 and we will contact
Q: Who should I call if I have any questions?
A: Contact LCF via email info@lhcfunding.com or phone 562-239-3635
Apply today for an advance
Inheritance FAQs
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