The author of this Inheritance Loans article is, of course, 100 percent correct -- it doesn't make great financial sense to take get an advance on your inheritance in trust, or to get a probate loan, simply for entertainment purposes, or other items that are not particularly important.
On the other hand, an inheritance loan doesn't have to be for only essential items, such as paying off a mortgage or getting rid of credit card debt, or getting up to date on rent or maintenance that you're way behind on. You can do whatever you like with your inheritance loan; it's strictly up to you. However, it obviously makes sense to get to important items first with an inheritance advance, if you can, that's just plain common sense.
As the article indicates, inheritance loans vary in terms of rates or fees, so it also makes good sense to look around online, make a short list to call, and carefully avoid the companies that may be charging you 50, 60 or even 70 percent on your inheritance loan amount!
You also want to make sure that the inheritance loan firms you are researching and possibly calling is in good standing with the Better Business Bureau,
Staying in tune with the article -- some other key points worth noting when it comes to paying back your inheritance loan:
You definitely do not want an inheritance cash advance with monthly payments or interest rates that will be compounding and costing you dearly. Technically, you want a cash advance assignment. Even though we all call it an inheritance loan, it's not really a loan.
Also, it's critical to avoid any inheritance loans that have hidden fees or up-front costs of any kind -- for both probate loans and trust fund advances. It is worth knowing what you are getting into, as the article says.