E305 Get Your Inheritance Faster

<p>Heirs often want to know if there is any way to get their inheritance faster.</p> <p>Probate can <a href= "https://anthonyspark.com/how-long-does-probate-take-in-new-york">take a long time</a>, <a href= "https://anthonyspark.com/e235-3-reasons-probate-court-takes-so-long/"> for various reasons</a>, and lately it has been taking even longer because <a href= "https://anthonyspark.com/e257-how-irs-processing-delays-are-slowing-down-probate"> IRS delays</a> are <a href= "https://anthonyspark.com/e239-why-does-probate-tax-clearance-take-so-long/"> making tax clearance even slower</a>. So, here are some options for heirs in a cash crunch.</p> <h2>Expense reimbursements</h2> <p><img class="aligncenter size-medium wp-image-43394" src= "https://anthonyspark.com/wp-content/uploads/2023/01/Expense-reimbursements-300x169.jpg" alt="Expense reimbursements" width="300" height="169" /></p> <p>First, the executor can pay expense reimbursements as soon as possible. This includes reimbursing heirs who paid the funeral bill, court or lawyer fees, clean out or move out costs, co-op fees, mortgage payments, and property repairs. Heirs who fronted these funds are entitled to be reimbursed from the estate.</p> <p>Of course, reimbursements are not actually your inheritance, but repayment of money owed back to you. But if you need liquidity NOW, this can usually come out of the estate quickly with minimal delays. For example, court fees are unequivocal, so those can be reimbursed immediately once the estate has funds available.</p> <p>Requesting a reimbursement from the estate is a quick way to get cash back into your pocket. Some heirs pull thousands of dollars from their personal bank accounts to cover the estate expenses and can’t afford to wait a year or longer to replenish their accounts.</p> <h2>Intermediate accounting</h2> <p><img class="aligncenter size-medium wp-image-43395" src= "https://anthonyspark.com/wp-content/uploads/2023/01/Intermediate-accounting-300x169.jpg" alt="Intermediate accounting" width="300" height="169" /></