Georgia Estates, Assets & Probate Law: Inheritance Funding vs. Inheritance Loans

Inheritance Funding vs. Inheritance Loans

If you are an heir of an estate in probate or trust in Georgia, you will want to make sure you are on the same page as your attorney – and be well aware of any new probate laws in Georgia. Moreover, if you are motivated to receive rapid inheritance advance funding, with low inheritance advance or probate advance rates – you will want to choose your estate advance or inheritance cash advance funding company with great care.

Inheritance Advance Funding and “Probate Loans” in Georgia

A lot of heirs of Georgia probate estates and trust beneficiaries would rather receive an advance on inheritance from their parents, or remaining parent, if they are still living. Yet when inheritance advance funding from parents, or the one surviving parent, is not possible due to the death of both parents – heirs of Georgia estates frequently will get an advance on inheritance, typically a large advance inheritance, from a so-called “estate loan” or “inheritance loan” company. An estate advance, or inheritance cash advance transaction, that heirs often (incorrectly) refer to as “borrowing against inheritance”, or getting an “inheritance loan” or “probate loan”. A lot of impatient heirs will get inheritance advance funding through an advance inheritance or probate advance firm; usually a probate cash advance company with a positive reputation – typically one of the more established inheritance advance funding companies that has been funding heirs like this for over a decade, or for decades. Many heirs will look towards something like a 72 hour probate cash advance; which is what a lot of heirs see as the best inheritance advance funding option – which generally also means inexpensive inheritance advance funding from a fast online inheritance cash advance company.

How Can You Access Fast Inheritance Funds in Georgia?

Although the overall probate process in Georgia is slow, there are ways to access inheritance funds in Georgia sooner than waiting for a year or two for probate to close. Inheritance cash advance funding is generally fast and simple for heirs… as long as they have hooked up with reliable inheritance advance funding specialists, from an established probate cash advance company. As far as My Inheritance Cash is concerned, inheritance advance funding clients typically fund within a few days, rarely with delays. There are no up-front fees or hidden charges, and absolutely no obligations to get an advance quote; plus no monthly payments or compounding interest, no credit report or credit score is required. Rather than waiting for 12 to 18 months to get their inheritance money, or probate cash, heirs generally wait 2 or 3 days with My Inheritance Cash.

How Do You Get Approved For a Probate Advance, or What Heirs Often Refer to as an “Inheritance Loan” or “Probate Loan”?

Paperwork requirements for a probate advance are brief and simple compared to invasive paperwork requirements for an interest bearing personal loan from a bank or credit union. My Inheritance Cash furnishes inheritance cash advance assignments, technically speaking, not interest based loans, even though many heirs and even attorneys refer to these assignments as inheritance loans, estate loans or probate loans. To get approved for a probate advance in Georgia, heirs of estates in probate or trust fund beneficiaries simply need a valid Photo I.D., documents proving status as a valid heir of a Georgia estate or trust, proof of all inheritance assets to be received – real property, liquid assets, and personal property… along with the amount of advance inheritance money being requested by the heir as an advance on inheritance (again, what many heirs and beneficiaries, and even inheritance advance companies, refer to as “estate loans”, “inheritance loans” or “probate loans” or getting a “loan on inheritance”, or “borrowing against inheritance…” ) Generally, heirs will happily see their inheritance cash in their bank account within days, as opposed to months or years waiting for probate to close.

In Which Georgia Counties Are Inheritance Advances Available?

Inheritance advance transactions are available in all counties in Georgia. Both discounted estate cash advances, probate advances with standard pricing, as well as 72 hour probate cash advances and 48 hour inheritance advances… for heirs of Georgia estates and trust funds; typically without much effort on behalf of the heirs or trust beneficiaries.

How Do You Know If You Qualify for Inheritance Advance Funding in Georgia?

It is generally a simple matter to determine whether or not you qualify for inheritance cash advance funding, for a standard inheritance advance, probate advance or an estate advance in Georgia, based either on probate property or liquid assets. Besides relevant documentation, you must be an heir to an estate within the United States of America or Canada; you must be at least 18 years old – with an inheritance valued at $15,000 or more, with some exceptions on a case by case basis. Once you qualify, and actually receive advance inheritance money, you can, as a valid heir to the estate, use probate advance cash or inheritance advance funds in any way you wish.

The critical matter for heirs of estates in Georgia is determining what the true value of their inherited real estate is – whether it’s possible to be approved for inheritance advance funding based on enough liquid assets in the estate… or, if there is probate property that is for sale, determining if it will sell at all, and if so approximately when the property may reach a closed deal with a serious buyer. Usually with a fast paced, comparatively low-cost inheritance advance or estate advance company. Or, as is occasionally the case, with several inheritance advance companies with inheritance advance service that offers not only affordable rates, compared to other similar online services – yet also provides advance inheritance funds viewed as “fast inheritance cash advance funding”. Typically, inheritance advance funding takes no more than a day or two, sometimes as much as three days – so the speed factor is rarely an issue for heirs these days.

These are the type of questions that most heirs of estates in Georgia ask prior to signing a probate advance or inheritance advance agreement with an inheritance advance funding company, frequently and inaccurately referred to as an “inheritance loan” or “probate loan” provider.

My Inheritance Cash probate advance transactions are carefully structured so that heirs can access inheritance money as quickly as possible, usually within a day or two – or at the most, with a 72 hour probate cash advance, before probate closes, so heirs can use the money as they wish, within a relatively rapid timeframe… Making it possible, for example, to hire their own personal estate lawyer (if that is a desired outcome); or to invest in certain immediate financial opportunities that are available only for a brief period of time; to pay for critical or essential medical services that may be needed immediately… Or to pay off debts; even to resolve a foreclosure. Certainly not unheard of these days for middle class families. There is, in fact, no end to the reasons heirs may have, with which to use advance inheritance money for.

Is a Georgia Inheritance Advance a Cash Advance Assignment Transaction, or is it “Borrowing Against Inheritance”?

Inheritance cash advance assignments in Georgia are not technically “interest bearing loans”, therefore there is no risk of recourse for non-payment. Heirs receiving advance inheritance money from inheritance cash advance funding companies are not personally responsible for repayment. Commonly, consumers will call inheritance cash advance assignments: “inheritance loans”, “inheritance advance loans”, “probate loans”, “estate loans”, or “probate advance loans”; however it is important to note the difference – clients of inheritance advance funding firms do not technically “borrow against inheritance”; and do not actually “get a loan on inheritance.” Fast inheritance advance companies, or discounted probate advance firms, do not technically provide inheritance loans or probate loans to clients. Their probate cash advance service is in effect providing non-interest bearing, non-recourse, inheritance cash advance assignments with zero risk.

Inheritance Laws in Georgia

There are no state-specific taxes in Georgia, making it a good place to close an estate. Comparatively weak on spousal inheritance law, it is recommended that an experienced financial advisor, accountants, tax attorney, etc help you to plan your estate properly in Georgia.

Does Georgia Require an Inheritance or Estate Tax?

Georgia does not have an estate tax or inheritance tax for deaths after July 1, 2014. Still, the following may need to be filed:

• (Final) individual federal/state income tax returns, due by tax day of the year following the individual’s death
• Federal estate/trust income tax return, due by April 15 of the year following the individual’s death
• Federal estate tax return, due nine months after the individual’s death, with a six-month extension available if requested prior to the conclusion of the nine-month period

As of 2018, this pertains to individual estates exceeding a gross asset and prior taxable gift value of $11,180,000. You must request an EIN (Employer Identification Number) for the Estate with the IRS.

Dying With a Will in Georgia

As in other states, dying in Georgia with a valid will is considered testate. To be valid, a will must have been signed by both the decedent and two witnesses who are acquainted with the Estate.

A valid will typically names an Executor to manage the Estate. Once approved by a court, this person will be responsible for distributing assets, property, etc., and also for settling any outstanding debts, liabilities, etc.

Of probate, there are two types in Georgia: solemn and common. 

Solemn Form Probate requires that all eligible heirs be notified of Probate and given an official copy of the will. This form of probate is traditionally used when a will is disputed, etc.

Common Form Probate does not require that heirs be notified, though they are free to request a copy of the will, if they choose. Unless there are no obvious discrepancies, this is the traditional process to settle an Estate. Though rare, parties are allowed to contest a will under this process, so long as it is within four years of proceedings.

In Georgia, a decedent’s surviving spouse and children can request twelve (12) months’ worth of finances from an Estate, so long as all creditors, etc have agreed to it.

Dying Without a Will (Intestate) in Georgia

In Georgia, passing away without a valid will makes an Estate intestate. In this case, intestate successions laws will determine the distribution of assets and property, which will then be allocated by a court-appointed representative (Executor). 

Inheritance Law for Spouses in Georgia

In Georgia, a surviving spouse is entitled to the entire intestate Estate only if the decedent left no surviving children. Where there are children, the Estate is split among the surviving spouse and descendants, with the spouse receiving no less than 1/3rd of the Estate. 

Inheritance Laws in Georgia after Disinheriting a Spouse

In most states, a disinherited spouse is still entitled to receive a portion of the decedent’s Estate. In Georgia, a spouse may receive a monetary allowance for 12 months following the testator’s death, but is not entitled to an actual minimum share of the Estate.

Inheritance Law Regarding Children in Georgia

In Georgia, when there is no surviving spouse, children are eligible to receive the decedent’s entire Estate. Where there is a surviving spouse, regardless of parentage, the Estate is split between the spouse and children, with no more than 2/3rds going to the children.

In Georgia, biological children and those you legally adopted are equitably eligible to receive a share of your Estate. For a child to be considered biological, (1) paternity must have been proven by a court, or (2) paternity was recognized by the decedent in writing, or (3) the decedent signed the birth certificate, or (4) there is convincing evidence of paternity, AND (a) the decedent must not have given up the child for adoption.

Children assumed to be conceived by you, but born after your death, will receive a share of your Estate, so long as they (1) are born within ten months of your death, and (2) survive at least 120 hours after birth. 

Step and Foster children are not automatically eligible to receive a share of your Estate, unless they were legally adopted by the decedent. 

Inheritance Law in Georgia for Unmarried Heirs With No Children

In Georgia, an Estate without a valid will is known as intestate. While a court will make every attempt to locate next of kin, Estates found to have no eligible heirs within four (4) years will escheat to the State of Georgia. At the time of writing, Estates in this situation will be transferred to the Board of Education in the county where the Estate’s probate proceeding was filed. To finalize the transfer, the Executor of the Estate will need to file a petition in court, after which a 60-day window allows any heirs to claim eligibility to the Estate. 

Non-Probate Georgia Inheritances

In Georgia, certain assets, property, etc do not require Probate, such as:

• Property held in a living trust
• Life insurance policies/payouts
• 401(k)s, IRAs, retirement accounts
• Transferable- and Payable-on-death (POD) accounts
• Property owned in joint tenancy

To be eligible, a beneficiary must be named on the account. Alternatively, the Estate itself could  be named as the beneficiary, meaning that it would become a part of the decedent’s Estate upon his/her death.

Other Scenarios Regarding Georgia Inheritance Law

In Georgia, half- and full-blooded relatives are considered equal, according to Intestacy Succession statutes. E.g., an intestate Estate to be distributed to your relatives would go equally to your half-siblings and full siblings.

Citizenship, Residency, etc., do not affect a person’s eligibility to receive his/her share of your Estate.

Regardless of whether they were named in a valid will, heirs found to have feloniously and intentionally caused your death is ineligible to receive a share of your Estate.

If the decedent’s spouse dies intestate within six months of the decedent’s death, the decedent’s property will pass to that spouse’s heirs.

If at any time you make a lifetime gift to a relative, the amount of this gift will only be deducted from his/her respective share of your Estate if (2) such an agreement was formalized in writing within 30 days of the transfer, or (2) the relative confirms the transfer in writing.

Resources: Click Here for a Georgia Inheritance Advance or Probate Advance Representative

If you are an heir of an estate in probate or trust in Georgia, thinking about interest-free inheritance loans, which are in fact actually cash advance assignments without credit or income requirements, not interest bearing loans (even though they\’re also called probate loans and estate loans), then you\’ll want to choose an inheritance funding company soon, with a lot of experience in the inheritance advance or probate advance process… And you\’ll also want to get on the same page, so to speak, with your probate attorney, with respect to inheritance funding and inheritance lenders in general… and most likely with the inheritance lender you choose, to get an advance on inheritance, which they may refer to as interest-free inheritance loans or probate loans, or simply as an inheritance advance, or inheritance cash advance. Your attorney will probably be familiar with terms such as interest-free inheritance loans or probate loans, and will be aware of any new probate laws in the state of Georgia. Moreover, if you are motivated to receive fast inheritance funding, with especially low inheritance advance fees or probate advance rates – you will want to choose from various interest-free inheritance loans, as you may call them, quite carefully.

Inheritance Funding Versus Interest-Free Inheritance Loans in Georgia

Interestingly enough, many heirs of Georgia estates and trust beneficiaries would prefer to get an advance on inheritance from their parents, or remaining parent, directly, if they are still living. Yet when inheritance advance funding from parents, or the one surviving parent, is not possible – heirs of Georgia estates will frequently apply for an advance on inheritance, which many heirs will refer to interest-free inheritance loans or simply \”borrowing against inheritance\”, from a so-called “estate loan” or “inheritance loan” company which is simply short-hand for a nationwide inheritance funding company that exclusively provides non-interest cash advance assignments. Moreover, most heirs or beneficiaries in Canada or the USA will pursue inheritance funding through a probate cash advance company with a positive reputation – typically an established inheritance funding company, that has been funding heirs with this type of inheritance financing for decades. Many heirs will right off the bat look into a 72 hour probate cash advance; which most heirs these days will call, when speaking to their inheritance funding company, interest-free inheritance loans — which a lot of heirs see as the only viable inheritance funding option, as they have gotten accustomed to inheritance advance companies offering this type of fast inheritance funding. Which generally also means inexpensive inheritance advance funding from a fast online inheritance cash advance company. Click Here: to conduct additional research on impartial Websites, to better understand the inheritance advance or inheritance loan process, and how an inheritance funding company sets their rates for interest-free inheritance loans, as they are often called, or for probate advance funds…

How Can You Access Fast Interest-Free Inheritance Loans in Georgia?

Although the overall probate process is slow, heirs in Georgia, over the past 15–20 years, have become very comfortable with the idea of accessing fast inheritance funds through an affordably priced inheritance advance or fast inheritance loan, rather than waiting a year or two for probate to close so they can get their full inheritance. Inheritance funding, frequently now called interest-free inheritance loans, is generally fast and simple for heirs… as long as they have hooked up with mature, reliable inheritance advance funding specialists from an established probate cash advance company. As far as My Inheritance Cash is concerned, inheritance advance funding typically funds within a few days, rarely with any delays. There are no up-front fees or hidden charges, and no obligations when getting a financial quote in writing; plus no monthly payments or compounding interest, and no credit report or credit score qualifications. Rather than waiting for 12 to 18 months to get their inheritance money, or probate cash, heirs generally wait 2 or 3 days with My Inheritance Cash.

How Do You Get Approved For an Inheritance Advance, or What Heirs Often Refer to as Interest-Free Inheritance Loans?

Paperwork requirements for a probate advance are brief and simple compared to invasive paperwork requirements for an interest bearing personal loan from a bank or credit union. My Inheritance Cash furnishes inheritance cash advance assignments, technically speaking, not interest based loans, even though many heirs and even attorneys constantly refer to these assignments as interest-free inheritance loans, estate loans or probate loans. To get approved for a probate advance in Georgia, heirs of estates in probate or trust fund beneficiaries simply need a valid Photo I.D., documents proving status as a valid heir of a Georgia estate or trust, proof of all inheritance assets to be received – real property, liquid assets, and personal property… along with the amount of advance inheritance money being requested by the heir as an advance on inheritance (again, what many heirs and beneficiaries, and even inheritance advance companies, refer to as interest-free inheritance loans, \”estate loans\” and \”probate loans\” or “borrowing against inheritance…” ) Generally, heirs will happily see their inheritance cash in their bank account within days, as opposed to months or years waiting for probate to close.

In Which Georgia Counties Are Inheritance Advances Available?

Inheritance advance transactions are available in all 159 counties in Georgia. Typically without much effort on behalf of the heirs or trust beneficiaries.

How Do You Know If You Qualify for Inheritance Advance Funding in Georgia?

It is generally a simple matter to determine whether or not you qualify for inheritance funding,what many heirs in Georgia call interest-free inheritance loans, actually just a standard inheritance advance, probate advance or estate advance cash assignment, based either on probate property or liquid assets. Besides relevant documentation, you must be an heir to an estate within the United States of America or Canada; you must be at least 18 years old – with an inheritance valued at $15,000 or more, with some exceptions on a case by case basis. Once you qualify, and actually receive advance inheritance money, you can, as a valid heir to the estate, use probate advance cash or inheritance advance funds in any way you wish.

The critical matter for heirs of estates in Georgia is determining what the true value of their inherited real estate is – whether it’s possible to be approved for inheritance advance funding based on enough liquid assets in the estate… or, if there is probate property that is for sale, determining if it will sell at all, and if so approximately when the property may reach a closed deal with a serious buyer. Usually with a fast paced, comparatively low-cost inheritance advance or estate advance company. Or, as is occasionally the case, with several inheritance advance companies with inheritance advance service that offers not only affordable rates, compared to other similar online services – yet also provides advance inheritance funds viewed by many heirs as “fast inheritance loan funding” or fast interest-free inheritance loans. Typically, inheritance advance funding takes no more than a day or two, sometimes as much as three days – so the speed factor is rarely an issue for heirs these days.

These are the type of typical questions that most heirs of estates in Georgia ask prior to signing a probate advance or inheritance advance agreement with an inheritance funding company, frequently (and frankly, inaccurately) referred to as an interest-free inheritance loans, discounted inheritance loan or no-credit, no-income checking probate loan provider.

My Inheritance Cash probate advance transactions are carefully structured so that heirs can access inheritance money as quickly as possible, usually within a day or two – or at the most, with a 72 hour probate cash advance, before probate closes, so heirs can use the money as they wish, within a relatively rapid time-frame… Making it possible, for example, to hire their own personal estate lawyer (if that is a desired outcome); or to invest in certain immediate financial opportunities that are available only for a brief period of time; to pay for critical or essential medical services that may be needed immediately… Or to pay off debts; even to resolve a foreclosure. Certainly not unheard of these days for middle class families. There is, in fact, no end to the reasons heirs may have, with which to use advance inheritance money for.

Are Georgia Inheritance Advances Cash Advance Assignments, or Interest-Free Inheritance Loans?

So-called interest-free inheritance loans or, more accurately, inheritance cash advance assignments, in Georgia, are not technically “interest bearing loans”, therefore there is no risk of recourse for non-payment. Heirs receiving advance inheritance money from inheritance cash advance funding companies are not personally responsible for repayment. Commonly, consumers will call inheritance cash advance assignments: “inheritance advance loans”, “probate loans”, “estate loans”, or interest-free inheritance loans; however it is important to note the difference – clients of inheritance advance funding firms do not technically “borrow against inheritance”; and do not actually “get a loan on inheritance.” This type of inheritance financing is in fact providing non-interest bearing, non-recourse cash advance assignments with zero risk.

Inheritance Law in the State Georgia

There are not any state-specific taxes in Georgia, which makes it a good place to close an estate. It is recommended that an experienced financial advisor, accountants, tax attorney, etc help you to plan your estate properly in Georgia.

Does Georgia Require an Inheritance or Estate Tax?

Georgia does not have an inheritance or estate tax, so long as the death occurred after July 1, 2014.The following may still need to be filed:

• (Final) individual federal/state income tax returns, due by the tax day of the year after the individual’s death
• Federal estate/trust income tax return, due by tax day of the year after the individual’s death
• Federal estate tax return, due 9 (nine) months after the individual’s death, with an extensions of six months available if requested prior to the conclusion of the nine-month period

At the time of writing, the above pertains to individual estates exceeding a gross asset and prior taxable gift value of $11,180,000. Executors must request an EIN (Employer Identification Number) for the Estate with the IRS.

Dying With a Will (Testate) in Georgia

As in other states, passing away in Georgia with a valid will is considered testate. To be considered valid, a will must have been signed by (1) the decedent, and (2) two witnesses who are acquainted with the Estate.

A valid will should name an Executor to manage the Estate. Once approved by a Probate court, this person will be responsible for allocating assets, property, etc., and for settling any outstanding debts, etc.

There are two types of Probate in Georgia: solemn and common. 

Solemn Form Probate requires that all eligible heirs be notified of Probate, and that they be given an official copy of the will. This form of probate is used when a will is disputed, etc.

Common Form Probate does not require that heirs be notified, although they are free to request a copy of the will, if they so choose. Unless it is contested, this is the traditional process to close a will. Though uncommon, parties can contest a will under this process within four years of proceedings.

In Georgia, a decedent’s surviving spouse and children can request twelve (12) months’ worth of financial support from an Estate, so long as all debtors, etc have agreed to it.

Dying Intestate (Without a Will) in Georgia

In Georgia, dying without a valid will makes an Estate intestate. In this case, Georgia state Intestate Successions Law determines the heirs of an Estate, which will then be distributed by a court-appointed representative (Executor). 

Spousal Inheritance Law in Georgia

In Georgia, a surviving spouse is entitled to receive the entire intestate Estate if, and only if, the decedent left no surviving children. When the decedent left children, an intestate Estate will be split among the surviving spouse and children, with the spouse receiving a minimum of 1/3rd of the Estate. 

Inheritance Laws in Georgia for Decedents who Disinherit a Spouse

Typically, a spouse who has been disinherited (left out of a will) is still entitled to receive a portion of the decedent’s Estate. In Georgia, however, such is not the case. A spouse is eligible to receive a financial allowance for twelve (12) months after the testator’s death, but is not entitled to a share of the Estate thereafter.

Inheritance Law for Decedents with Children in Georgia

In Georgia, children are eligible to receive the decedent’s entire Estate, so long as there is no surviving spouse. When there is, the Estate will be split between the surviving spouse and children (regardless of parentage), with no less than 1/3rd of the Estate going to the surviving spouse.

In Georgia, legally adopted children are equitably eligible to receive a share of an Estate as biological children. For children to be considered biological, (1) paternity must have been recognized by the decedent in writing, or (3) the decedent signed the birth certificate, or (3) paternity must have been proven by a court, or (4) there is convincing evidence of paternity; AND (a) the children must not have been legally adopted by another family after being put up for adoption by the decedent.

Heirs conceived before, but born after, your death, are eligible receive a share of your Estate, so long as they (1) survive at least 5 days (120 hours) after birth, and (2) are born within ten (10) months of your death.

Foster and Step children are not necessarily eligible to receive a portion of an Estate, unless they were legally adopted by the decedent. 

Inheritance Law for Unmarried Heirs With No Children in Georgia

In Georgia, dying without a valid will is known as intestate. A court will attempt to locate next of kin, but Estates found to have no eligible heirs within four years will escheat, meaning that they will go to the State of Georgia; specifically, they will be transferred to the Board of Education in the county where the Estate’s probate proceeding was filed. To do this, the Estate Executor will file a petition in court, after which heirs have 60 days to claim inheritance eligibility.

Non-Probate Georgia Inheritances

In Georgia, assets, property, etc. with a named beneficiary do not require Probate, including:

• Property held in a living trust
• Life insurance payouts/policies
• Retirement accounts, such as 401(k)s, IRAs, etc
• Payable- and Transferable-on-death bank accounts
• Property co-owned in a joint tenancy

Likewise, an Estate itself could be named as the beneficiary of an account, meaning it would become a part of the decedent’s Estate upon his/her death.

Other Scenarios in Georgia Inheritance Law

In Georgia, half-blood relatives are equally eligible to receive an intestate share of an Estate as full-blooded kin.

Citizenship/Residency does not affect a person’s eligibility to receive a portion of an Estate.

Even if named in a will, persons found to have feloniously and intentionally caused your death (homicide) are ineligible to receive a portion of your Estate.

If the decedent’s spouse dies without a will within 6 (six) months of the decedent’s passing, the decedent’s Estate will pass to the spouse’s heirs.

If at any time you made a lifetime gift to an heir or relative, the value of the gift will be deducted from his/her respective portion of your Estate, so long as (2) the transfer was put in writing within 30 days, or (2) the heir/ relative affirms the transfer in writing.

Click Here: to learn more about Wills and Estates in Georgia. 

Resources: Click Here for a Georgia Inheritance Advance or Probate Advance Representative

Categorised in: State Inheritance and Probate Law

This post was written by Inheritance Loans USA