Do Inheritance Loans require a Court Order in Southern California

Asked over 1 year ago - Inglewood, CA

My former attorney advised me to get an Inheritance Loan for $20,000.00 to Administer my Grandmother's Estate. $$8,000.00 for his retainer fee and 12,000.00 to take care of Estate Affairs.

Attorney answers (3)

  1. Mary Lynn Symons

    Contributor Level 13

    3

    Lawyers agree

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    Answered . Probate fees in California cannot be paid until the Court orders payment. This is usually at the end of the probate. I strongly advise you to seek the advice of another attorney. (Hopefully you have already done so because you indicate that this is your former attorney.) Do not pay this attorney anything without being ordered to do so by the Court.

    DISCLAIMER: THE INFORMATION PRESENTED HERE IS GENERAL IN NATURE. IT IS NOT INTENDED, NOR SHOULD IT BE CONSTRUED,... more
  2. Michael Raymond Daymude

    Contributor Level 20

    2

    Lawyers agree

    Answered . Your question is not clear. An "inheritance" loan is not necessarily a loan to the probate estate. If the estate is in probate, fees must be approved by the court before they are paid. Not so with trustee fees, unless the trust agreement unlikely provides otherwise, or with loans to beneficiaries who merely seek an advance of funds based upon their inheritance through a source other than the estate.

    I am licensed in California only and my answers on Avvo assume California law. Answers provided by me are for... more
  3. Charles Adam Shultz

    Contributor Level 19

    Answered . Based on your question, this sounds more like a personal loan to you as an advance on your inheritance. Probate Fees for attorneys are statutory. 4% first 100K, 3% next 100K, 2% on the next 800K and 1% thereafter. Fees are based on gross values. Filing fee is $435, and cost for probate referee is .1% of 1% of appraised value for real property and personal property other than cash.

    If this is a probate, you should be very leery of the attorney. It does smell right.

    The general advice above does not constitute an attorney-client relationship: you haven't hired me or my firm or... more

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