Cash for inheritance is an option available to heirs who wish to sell inheritance assets bequeathed to them through a Will or trust. When assets are held in probate it can take several months or years before final distribution occurs. If heirs do not want to wait for estate settlement, they can assign inheritance rights to a funding source in exchange for a lump sum cash payment.
Cash for inheritance can provide quick cash which heirs can use in any manner they desire. When a person dies their estate must undergo the process of probate, unless protected by a trust. Probate protects decedent’s assets to ensure inheritance is distributed according to their last will. If no will exists, probate is required to determine rightful heirs and settle the estate according to probate laws.
Beneficiaries who obtain cash for inheritance advances are not responsible for repaying the funding source. Instead, the estate executor includes the assignment of inheritance rights into estate settlement. The funding source is the last person to be paid during estate settlement.
Traditional lending institutions generally do not provide loans to beneficiaries using inheritance assets as collateral because it is too high-risk. While there are a few inheritance funding companies, the most common place to obtain probate advance is through a private investor.
Heirs are required to provide financial records, current credit report, background check, and estate information. The funding source must verify the applicant is entitled to inheritance and conducts a background check to ensure the probate advance recipient does not have outstanding liens or judgments that could interfere with repayment.
Inheritance loan funding sources assume considerable risk. Not only do they have to wait for probate to settle, they also run the risk of the estate being financially unable to repay the cash advance. For this reason, funding sources do not provide inheritance advances for the full value of assets. Instead, investors charge an upfront fee ranging between 25- to 40-percent. 소액결제현금화
Cash for inheritance loans are generally reserved for heirs entitled to $15, 000 or more. Funding sources are more apt to provide probate funds when inheritance is backed by collateral such as real estate or financial portfolios.
The process for obtaining inheritance funding typically takes two to three weeks. Once the funds are distributed, heirs can use funds to pay off credit cards and outstanding debts, for investment purposes, or for anything they desire.
Spending inheritance money frivolously is counterproductive. Remember, loved ones worked hard to obtain the assets they are passing along to family members. They are giving away their accrued property in hopes of improving the lives of designated beneficiaries. It is senseless to waste inheritance money on material things. Instead, use the funds to invest in your future.
The laws surrounding probate estates and inheritance property are complex. Prior to seeking out cash for inheritance funding it is recommended to consult with a probate lawyer. Heirs can locate attorneys who are well-versed in inheritance law by visiting the American Bar Association website at FindLegalHelp. org.
Many times as entrepreneurs we tend to look past the finer details of running a business and focus more on the big picture concept. We are more concerned with how to bring our idea to market, how to increase sales, how to innovate and create change rather than managing the day to day operations of the business. Unfortunately this ultimately may lead to bankruptcy no matter how great the product or service may be.
Business analysts show that poor management is a leading cause of business failure. More specifically you could argue that poor cash management is a leading cause of business failure. For many entrepreneurs, the concept of cash flow is either drastically misunderstood, completely undervalued, or both. So it’s time to set the record straight. What is cash flow, why is it so important, and what can be done to ensure proper cash flow management?
Simply put it is the amount of money coming into your business versus the amount of money going out. Cash inflow includes cash you receive from customers, lenders, and investors. Cash outflow is cash what you use each month to pay salaries, suppliers, and creditors. Important to realize is that cash inflow does not include income from a credit sale of products or income that is due but has not been received.
Positive cash flow occurs when your cash inflow is greater than your cash outflow. Positive flow can be a good sign (but not the only sign) of good financial standing of the business. Negative flow is when your cash outflow exceeds your inflow. This could occur when revenue from a sale is not received for a period of time, for instance when goods are sold on customer credit. Even though the sale has been made, your business may not collect the payment (cash) for another month. All the meanwhile you have already paid for the cost of goods sold, utilities, loan payment, etc.. Again, this creates a negative flow. A negative flow could mean that you cannot pay your expenses (bills and wages) for that month.
Many entrepreneurs and small business people have a difficult time differentiating between cash flow and profit. When you first begin working on a business plan you typically think in terms of profit. Sales minus expenses = PROFIT. It’s that simple. But here is the catch, you don’t spend profits, you spend cash. Profit is income minus expenses at a certain point in time. Cash is ready money. Cash flow looks at the time at which the movement of the money takes place. Inventory, property and most importantly accounts receivable are not considered cash (although these items can be converted into cash).
There are few things that can be done to ensure good cash flow management. First you must develop a cash flow projection. This can be done using an Excel spreadsheet (here is a template). It’s a good idea to create both short term (weekly, monthly) and long term (annual) projections. By using a cash flow spreadsheet you will be able to anticipate cash insufficiencies ahead of time and make proper adjustments accordingly to keep the business afloat. If you are able to foresee a period of negative cash flow you can amend your business plan or possibly seek additional funding to cover costs.