West Virginia’s probate process can be time-consuming. Fortunately, suppose you are the beneficiary of a will or estate. In that case, you may be able to get an inheritance advance in as few as three days. At My Inheritance Cash, we go beyond traditional lending. Instead of offering an estate loan, we offer inheritance advances. We purchase a portion of your inheritance from you, giving you the benefit of cash now without payments, qualifying for credit, or having to worry about how long the probate process will take.
To determine if you are eligible for an inheritance advance, we need you to provide proof that you are a beneficiary of an estate. Once that is established, we investigate estate assets to review the amount of your potential inheritance and assess what percentage we can advance. You may know the decision within 24 hours and have the money in as few as 72 hours.
Probate in West Virginia
West Virginia requires people to go through the probate process. It can take months—or even years—before the estate representative is ready to distribute any of the estate’s assets. The probate process may be difficult and time-consuming. Still, it serves a good purpose—ensuring that assets go to the right people.
The court will appoint a personal representative for the state. If the deceased established one in their will, then the court will use that person. If the person cannot serve or the deceased did not leave one, then the court will choose a representative. The representative’s job is to begin probate, inventory all assets, pay off outstanding debts and collect debts owed to the estate. It is also the representative’s job to validate documents like the will or any trusts.
The exceptions to the probate process include estates with a total value under $100,000 or estates where a living trust or will distributes assets in a way that avoids probate.
Does West Virginia Have an Inheritance Tax?
West Virginia does not have an estate tax or an inheritance tax. Larger estates may be subject to federal inheritance taxes.
West Virginia Intestate Succession
In West Virginia, the state determines how property passes when people die without a will unless they have other documents determining where the assets go, such as a living will or an account with a right of survivorship.
If a person dies with children but no spouse, the children inherit. If the person dies with a spouse and no children, the spouse inherits everything. The spouse inherits everything if the only children the deceased had were shared with the spouse. If the spouse is not the parent of the surviving children, the spouse gets half, and the children get half. With no spouse or children, the parents will inherit everything. If the parents are gone, the deceased’s siblings will inherit everything.
Access Your West Virginia Inheritance Immediately
The probate process in West Virginia can take about a year, which can leave you at a financial disadvantage for months. You do not have to wait for probate to conclude to get access to your inheritance. Let My Inheritance Cash purchase a portion of your inheritance, giving you access to the funds that you need.