Our probate estate loans give your firm a competitive advantage by offering your probate clients the option to receive inheritance advances quickly.
For almost 40 years, Westar Lending Group has been providing probate estate loans while assisting probate attorneys and executors in obtaining real estate loans for their clients and beneficiaries estates.
We provide advice and guidance to probate attorneys on required court documentation that will be needed and, further, we can prepare these court documents to obtain court orders. We are a valuable partner to probate attorneys in securing needed inheritance advances with probate real estate loans throughout the state of California, especially Los Angeles, Orange County, Santa Barbara County, Ventura County, and San Diego County.
An administrator, executor, probate attorney or beneficiary can initiate the request to obtain a probate real estate loan. The executor of the probate estate must have been issued Letters of Administration which empowers the executor to make necessary decisions – such as obtaining a probate loan.
If your firm has many outstanding probate cases that are comprised of mostly real estate-only estates and there exists a substantial amount of unpaid attorney fees, we can improve your firm’s cash flow and assist your clients with immediate loan funding.
How Can a Probate Loan Be Used?
Probate Loan Funds
If you are a probate attorney with client who is need of immediate funding, we can lend them money prior to the final distribution of the probate estate. The hard money probate loan can be used for many purposes:
- Outstanding attorney fees
- Court costs or fees
- Monthly payments or paying off estate or beneficiary creditors
- Property repairs to the properties owned by the estate
- Taxes or other obligations owed by the estate
- Funeral and burial expenses of the deceased
- Ongoing expenses owed by the estate
- Claims submitted by the executor of the estate
- Professional expenses, i.e., estate tax return preparation
- Preliminary distribution to one or more estate beneficiaries
- Interest impound reserves
Typically, most probate estate loans that we fund can be over-funded in an Interest Impound Reserve Account to cover required monthly interest payments due until the probate receives the Order for Final Distribution from the probate court.
Any unused funds remaining in the Interest Impound Reserve Account can be distributed as estate proceeds due to the beneficiaries.
EQUAL HOUSING LENDER
Some products may not be available in all states. Restrictions apply. All rights reserved. Pre-qualification is neither pre-approval nor a commitment to lend; you must submit additional information for review and approval. Approval may be subject to rate increases, satisfactory title and appraisal review, and no change in financial condition.
*Refinancing or taking out a home equity loan or line of credit may increase the total number of monthly payments and the total amount paid when comparing to your current situation.