How To Claim Inheritance Money From An Estate

Claim inheritance should be a simple thing to do, but there are possible legal complications which can get in the way. A lot depends on how well the deceased person administered and prepared their estate, and how well they kept other people informed of what was happening. The whole business of leaving money and assets to other people is made far simpler if it is all done openly. If the testator makes everyone aware of exactly how they are going to leave their assets, there is a lot less potential for arguments to occur.

The vast majority of wills are very simple, with the assets going to surviving immediate family. A lot of these wills aren't even strictly necessary, as the money would have ended up in the same place ad the deceased died intestate. It still is always better, though, to leave a proper will so that there is no possible doubt. You can include other beneficiaries if you choose, even if they are only going to be getting very small amounts of money, or simple goods. There is no substitute for planning what you want to do in advance.

More complicated wills will take much longer to pass through the system. Probate can last for months or even years in extremely complicated cases. No beneficiary will be able to benefit from the will until it has passed through probate. This makes it a lot harder to claim inheritance money, especially if the will is hotly contested. Make sure you do claim anything you believe you are entitled to, however, as probate courts are only human. There is always the possibility that they may be influenced against you, if other people are promoting their case while you are not.

The actual claiming of estate money should be done after the will is read. The executor is the person who has the responsibility for finding people who are due to receive an inheritance, but there is no harm in making them aware of who you are in advance. The easier you can make it for the executor, the more likely it is that they will get it right.

If you are due to claim inheritance money which you need to pay bills relating to the death of the testator, you may need to consider taking out an inheritance loan to get a part of the money in advance. These loans are charged, but the charges are a flat fee. You are not charged based on the time it takes to pay the money back, because no-one can predict in advance how long it will take for a will to pass through probate. These loans can also be used to pay any inheritance taxes which may need to be settled before you claim inheritance.






 

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