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Patrick H.
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Category: Australia Law
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Experience:  Dip Law LPAB - Sydney based lawyer
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My father passed away recently and his will is going to be

Resolved Question:

My father passed away recently and his will is going to be in probate for approximately six months to one year. I am sole heir to his estate and wanted to know if I can get a cash advance on my inheritance before probate is settled.

Submitted: 1 year ago.
Category: Australia Law
Expert:  replied 1 year ago.
Unfortunately, unless you had a joint account with your father you won't be able to access his money or estate until probate is granted.

You may, however, be able to refer some of his estate expenses, such as funeral expenses, tax bills, property insurance expenses to the bank which can pay them out of any estate funds prior to probate being granted (speak to your father's bank regarding this).

Also, although you cannot strictly speaking get an advance, you may be able to get a loan based on the fact you are about to inherit, though lending institutions will vary in their willingness to lend money in this situation and may require proof of the size of the estate and that you are the only likely beneficiary.

I appreciate this may not be the answer you were hoping for, however, it does reflect the legal reality of your situation and I trust assists your understanding as to how to proceed.

If there is further information or follow up questions you require then please ask and I will try to assist you further, otherwise please rate my answer so that I can be paid by the website operator for my time.

Please note I am only paid if you rate me with three or more stars/smileys.

Thank you and good luck.

Patrick



Patrick H., Lawyer
Category: Australia Law
Satisfied Customers: 4520
Experience: Dip Law LPAB - Sydney based lawyer
Patrick H. and 2 other Australia Law Specialists are ready to help you

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