CAN AN ADVANCE BE GIVEN ON AN ESTATE STILL IN PROBATE

Asked about 1 year ago - Waterloo, IA

iHAVE 10,000..00 COMING FROM AN ESTATE STILL IN PROBATE BUT HAVE A MEDICAL EMERGENCY. cAN I GET AN ADVANCE ON MY MONEY TO COVER THAT

Attorney answers (4)

  1. Christopher S. Wendland

    Contributor Level 10

    4

    Lawyers agree

    Answered . It may depend on the status of the probate proceeding. The executor has a duty to ensure that all creditor claims are paid. If the estate is still in the period where creditors can file claims, then the executor should not make an early distribution. Even after that period, an executor has discretion whether to make early distributions or to wait until final settlement. You should contact the executor or the attorney for the estate to discuss your situation and see whether a distribution could be done. Even then, the executor may not distribute your entire share to you, but only a part so that the estate can maintain a cushion for unforeseen expenses.

    DISCLAIMER: I am an attorney licensed to practice law in the State of Iowa only and not in any other state. The... more
  2. Joseph Michael Pankowski Jr

    Contributor Level 18

    3

    Lawyers agree

    Answered . Yes, the executor of the will may make an early distribution to you, but he or she is not required to do so. Please contact him or her immediately and explain your circumstances. Many times, the executor will require you to sign a "Receipt & Release Agreement", which acknowledges the distribution of the sum, prior to the actual distribution thereof. Good luck to you.

    This information is presented as a public service. It should not be construed to be formal legal advice nor... more
  3. Celia R Reed

    Contributor Level 20

    2

    Lawyers agree

    Answered . It's possible to get an advance, if the estate will have sufficient assets to pay creditors, or has paid all of the creditors claims. You will be asked to signed documentation reflecting the advanced distribution.

    Please note that I am answering this question as a service through Avvo but not as your attorney and no attorney-... more
  4. James P. Frederick

    Contributor Level 20

    2

    Lawyers agree

    Answered . I agree with my colleagues. It is possible for you to get an advance, provided the estate has sufficient assets to cover all foreseeable expenses and enough in reserve to cover any additional inheritances. The executor/administrator is not required to provide an advance, however.

    James Frederick

    ***Please be sure to mark if you find the answer "helpful" or a "best" answer. Thank you! I hope this helps. ******... more

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