can I get some inheritance money released to me for living expenses while the will is in probate?
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can I get some inheritance money released to me for living expenses while the will is in probate?
mother died in Florida with a will in 12/2007. P.R. stated inheritance amount is $27,000.00 but will take time in probate. I need some now for living expenses while in probate. Can probate courts release some now to me?
Asked on July 5, 2009 under Estate Planning, Florida
Answers:
M.D., Member, California and New York Bar / FreeAdvice Contributing Attorney
Answered 15 years ago | Contributor
Often estate beneficiaries will pressure the personal representative to prematurely distribute assets of the estate. As a fiduciary, the personal representative may be held personally responsible for early distributions when the personal representative learns later that the money distributed is needed to pay estate expenses, federal taxes, or required distributions. Therefore, the personal representative virtually never distributes money early to an heir.
There are actually companies that specialize in making "probate loans" or "heir loans" for situations just as yours; however just what type of terms are involved I cannot say. They may be fair but then again they may not. If possible, you just may want to bite the bullet and wait for the distribution of the estate.
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