Probatestar Financial now offers loans to executors of estates in probate. Currently, this product is available in Florida. If you are involved in a probate in a state other than Florida, please contact us to determine whether we might be able to help.
Every loan is highly customized to the individual circumstances of the estate. Loans are typically used to prepare real estate for sale, to provide liquidity to a business owned by an estate, for litigation, to pay taxes, and many other purposes.
The loans are not secured; however, the estate will be required to abide by restrictions so that repayment is highly likely. In most cases, a court order will be required to authorize the loan and to place the repayment obligation ahead of all other obligations of the estate. The court order will normally restrict the ability to make distributions until the loan is repaid. Nevertheless, because each executor loan that we make is customized, we are equipped to consider any request for a loan, even loans that do not meet our normal guidelines.