How Probate Inheritance Advances Work, with Marc Harris of ProbateCash

0:03 Hey it's B gross welcome back to Probate Weekly and we issue these episodes every week on your favorite channels YouTube Facebook and Linkedin I'm at Bill Gross probate on social media or Bill billg gross probate. Comom you know one of the challenges of probate for families is where does the M come from to hire an attorney filing fees maybe fixing up the property maybe evicting a tenant sometimes you're inheriting stuff but you don't have the money yet and one of the tools and I think one of the most underutilized Tools in my experience as a pro as a practitioner is advancing inheritance money to heirs, whether it be the only heir or multiple heirs oftentimes you're able to get money and get started and move into action also get the attorney you want by taking off the table if they'll Advance the fees or if they'll take it that way so the in the advanc inher is a critical tool for professionals as well as a great opportunity for erors we're really excited to have today the CEO of one of the leading companies in that space probe Cas have Mark Harris Mark thanks for rejoining us thank you bill for having me and prob cash is always excited to be on your show and you know we've been on before and I'm really you know I know that you we really have we've done some business together and I think because we're align ProbateCash is the website and it has a lot of the information there but I do think it is a personal business people should trust who they work with I know when I talk to customers sometimes it sounds too good to be true talk about the concept of advanced inheritance and how prob big cash feels that need for people sure so as you mentioned people have an inheritance money usually cash or soon to be liquid property they'll be liquidated in turn into cash but they can't access it yet for various reasons one property may not have sold yet two is the probate process in general most people don't realize probate even exists little Al how long it is so my

2:08 Background has always looked at Future cash that's due to somebody and seeing if we could make a payment to today to somebody who needs to access their future cash o That's obligated to them and build that void and then we wait to get paid back once the money is to supposed to be released pursuant to the terms of whatever it is probate is a little bit different because there are no terms usually that say here's when you get paid and that's one of the difficulties of probate as you know and most of your listeners I'm sure know is the probate case begins and you're at the mercy of the courts you're at the mercy of claims against the estate and third parties potentially objecting all sorts of those challenges and then at the end of the day when is property going to sell and then is property going to sell for the market value or people in a hurry just to get what they can and so they take a significant haircut and maybe not get the fair market value for the assets so ProbateCash saw that void in the marketplace and I'm an attorney a lot of friends who do probate law and they have those same issues where their client or their beneficiary of their clients because they represent the state are always asking for money or they're asking for the lawyers to do more work and the lawyers aren't getting paid so we looked and said well what if we advance money to the beneficiaries of the estate provide them with the cash today based on what we believe They will receive when they ultimately the assets are ordered to be distributed by the prob Bay Court and we will then wait to get paid at that time but in the meantime now the beneficiaries who need money today for whatever purposes just to pay bills have that money today and that gives them the opportunity to

4:11 Take a deep breath and wait for fair market value to be paid for the real property that may be sold it helps them hold on for the time the probate case takes which isn't in their control and the added benefit is the personal representative of the estate now has a little bit of breathing room because they're usually getting pressure from the beneficiaries so I think the thing that you said that to me most resonates is relieving pressure right sometimes people feel you know that they have a problem the problem is they have an inheritance but they can't access the value of it and maybe there's multiple areas putting pressure on them maybe they have their own financial needs that are creating pressure maybe the property is being foreclosed on which is a common case that creates pressure and often times cash can do things give you know Empower you to relieve that pressure and I think prit cash covers a lot of those so let's talk about a couple different scenarios that I work with that I've worked with you guys before one is you know customers will call me and say you know we're shopping for an attorney and there's attorney a who's great but he wants to deposit the filing fees in LA county are about $375 you have a publication you have to do which might cost $8 $900 of the of the probate so you might have $1,000 in actual costs out of pocket those sometimes they can be waved or reduced you have the attorney who might want an initial deposit to cover their fees not that they're charging UPF front but some attorneys will ask for a two three $4,000 deposit and the customer is making the choice of the attorney based on that number versus I'll say to them hey what if we could remove that consideration from you we can get you in advance to cover all that and maybe even another couple thousand dollars for pocket money or more maybe to bring the mortgage current or more to secure the property it really eliminates the shopping of Attorney question based on money because now you can use advance to get the attorney that you want yeah and

6:15 And we know the people I mean every everybody just about me included we make poor decisions when we're strapped for money when money becomes an issue we don't choose well we often choose with because we have to you know we have either let an attorney who's going to take the Ride May charge more because that attorney is doing that right so yeah we helped the personal representative or the person applying for the letters is now shopping for an attorney to open up the probate and I am willing to wager that person who's applying for to become the personal representative didn't even know probate existed until just recently so now that person is looking for a lawyer learning the cost involved and opening up in the state and we what we can do is we will go ahead and enter into a transaction with that person and have that person direct us to pay their attorney directly and for the purpose of opening up the probate any kind of retainer anything else that needs to be done that I mean a lot of people of course know the they're going to have to sell real property and you don't want to do that without an attorney also that goes back to the poor decisions if are you going to sell the estate property without benefit of an attorney because it costs more money now to do the closing well you know if you don't have the resources you may say oh I don't need a lawyer and you know we all know the pitfalls involved with that and I was finding that the attorneys that would offer to do it for free who using probate Advance or ProbateCash as a vendor or equivalent they were usually inferior attorneys who were only getting the business by discounting their service versus the best attorneys needed a deposit they use that to weed out people and verify those who are committed and I think they use ProbateCash as a

8:19 Way to kind of vet the case as well right if you guys are looking at the case so rather than get a bad attorney just because they'll take the case for free now you can get the best attorney for you regardless of the money up front you're G to pay the same probably at the end it's somewhat Limited in California there's statutory fees in California and some other states so you're not it's not you're G to get charged more perhaps it might be that you'll get a better attorney to actually handle the case and get it done properly so that's one scenario the other scenario I find is I'm constantly mentioning ProbateCash to attorneys because there's some attorneys that say well I'd love do more probate cases but I don't get paid for a year or a year and a half and I would say well it doesn't have to be that way you be at the fees that money you can get your customer to advance extraordinary fees sometimes you can get those approved by the court and paid ahead of time and at least the money is sitting in your trust account you know you're gonna get paid if there's an advance involved versus hoping there's money at the end because oftentimes attorneys can take a probate case and find out there's another relative and they're caught short but the state will end up having to pay them one way or the other so talk a little bit about your relations with attorneys as far as getting advances and them using you as a way to help their customers do business with them yeah so we do work with lawyers from all over the country I know you're based in Southern California at my office I'm sitting in South Florida but we do business in both States and all the states in between the attorneys that we work with they know that they're able to get enough money to properly handle the probate case and they the attorneys are happy to have that money not just because they have another case but you mentioned that the probes uncertain and if you're waiting for the statutory fees at the end they may not be there or the amount that you thought was going to be in the estate has been reduced and so your statutory fee will be limited one of the things that one of the important aspects of the advances that

10:23 ProbateCash provides to beneficiaries and by the way when we provide advances to lawyers we are only doing so pursuant to the beneficiaries instructions or the person applying to the letters and so we're in contract privity with the beneficiary the beneficiary is directing us to pay the attorneys we're not actually in contract privity with the probate attorneys themselves but going down that road one aspect of our advances is that they are non recourse so what does that mean if so we advance somebody $10,000 and we've Advanced as little as 5,000 we advance as high as a half million dollar depending on the case but as a non-recourse advance what ProbateCash does is takes a risk that the inheritance of the beneficiary who is taking the advance that inheritance will be there at the end of the day so what could be what could go wrong right so what go wrong with probate court right what could go wrong with this Advance all right so that's the old hypothetical question that everybody laughs at because we know everything can go on first off is the probate case is just about to be open we don't know what predators are out there and so if a creditor Medicaid Medicare in California comes can wipe a claim can wipe out all of the assets of the estate and if a claim does do that because our advances are non recourse we have no recourse against our customer the beneficiary to get repay so what does that mean well if we gave a $10,000 advance to that beneficiary of which 5,000 went to the lawyer and 5,000 went to the beneficiary that beneficiary is the only one who got money out of the estate they get to keep the $10,000 and we do not have any recourse to sue them that's just the deal same thing is if there's a

12:25 Challenge to the if it turns out that the person is the Airship is reduced something of that nature as long as there's no fraud if there's fraud you can't defraud us and then say oh we don't have to pay you back that's different of course but the normal risk that you have in a probate case that is the risk that we assume in these transactions and I've had cases where customers got advances and turned out of the blue came some sibling they didn't know about and they were afraid that you know they owed the money and I sure them know you know you had nothing to do with it turned out the sibling was not legitimate and we were able with the probate advance to have an attorney to help us prove it and all worked out but it did take away some of the stress to say you're not liable as long as you didn't lie about this as long as you didn't defraud it's one of the benefits not that's when the probate cat wants to advertise send us your deals to fall apart I think as a professional then the flip side is also true and this is where I try to get involved with Advanced companies I've always reached out to them which is when I look at a probate case and see an advanced company I want to evaluate their risk and their liability and see if I can help them and I've had cases where the advanced company made an assessment of the property and it turned out the property was burned down and so they thought they went to Zillow and thought it was worth 400,000 in reality was worth about 60 because it was burned down I told them that bad news and they didn't like it but you know help them and at the same time also I had a case recently where not priv another company there was a bad guy there was an heir who was living the house for free and holding up the sell of the property and here they're giving him in advance and meanwhile he's the one who's stopping us from being able to sell the property and I just you know point out to them hey you're really kind of financing your own problem you don't get paid until the house is sold and so I think sometimes as a professional for those of you watching whether you be an attorney or maybe an attorney for one of the erors or a real estate broker like me looking at the case reaching out

14:28 Seeing where you can work together is really important and that's kind of my goal on these is to stay in contact with the key professionals as well so anyhow just kind of opportunity I would say always anytime you got doing it in advance call local Realtor® and have them Drive the property make sure the property is still there that's what we do and professionals know that we you know the advantage to have a client even if it starts as what may seem to be just a simple probate to open up now you have a client and that client is going to have need could be future needs they're totally unrelated to the probate but now they have a lawyer and they've probably never had a lawyer before that's why they're contacting you to open up the probate and what comes out of the probate as we discussed earlier the sale of real property and need they need the lawyer to represent them in that sale and then sometimes what happens is we're talking about somebody who doesn't move out of the house an eviction has to be done that costs money so and then on top of the ition you want to crawl back the inheritance of the person who has been staying in the real property and the estate property and not paying rent and that costs money so it all like continues and continues and continues and suddenly as a lawyer it's not a simple probate now you're representing an estate where the fees are going to go into the healthy five figures one of the other case cases I see regularly is somebody who already is probate has an attorney but for some other reason needs money I've had cases where customers called me and said you know my aunt died and I'd love to help out for the funeral cost of $10,000 I'm G to get this $500,000 house in a year is there any way I can get some of the money now and the answer is yeah that's a perfect scenario in this in that particular case they had the letters of approval it was just a matter of time it was just a matter of I think in their case about six months before they got the money but rather than wait six months you can say an advance is expensive but that's not for you to

16:31 Decide in this case this was an aunt who's like a mother to my client and she was she thanked me so profusely for making that connection because for $10,000 she's able to be hero your family and honor something who's important to her she had $500,000 coming what is she gonna do with it right what do we do with money well one thing is take care of our families in some cases so you do work with cases are already filed now do you contact the attorney or how do you what do those look like when customers come to you they're already in Probate they we have an attorney they're just looking to speed up the process of their payment what how does that look to you guys well I sure hope one of the things that I've done is try to go really network with probate attorneys so probate attorneys know that our service exist because they are getting the phone calls from the personal representative or the other beneficiary saying I really need my inheritance just like that example you my aunt passed away I need to pay for the funeral I've got imminent needs or it could be something that just my kids's tuition is due my car broke down like real life real life happens while the probate is taking over a year may that's if there's no adverse issues in the probate and so I find it incredibly important that if you're an attorney you need to know how best to counsel your client that's why you're a counselor and part of being a good counselor is to know all the options that are available to you as the attorney but also to your client and so if you have people who desperately need money or just don't want to wait a year or however long it's going to take then you need to know as an attorney that ProbateCash can provide money within hours really I mean we can provide money right away for real no he's saying this just so he's listening for real like that's not the hold up is always the customer sign the paperwork it's another them wiring the money they're ready to wire within hours for sure yeah and where how and why is that because there's no loan there's no credit check there's none of the

18:36 Attributes characteristics of a loan apply with what we're doing with advances we are purchasing a portion of your inheritance and as long as we can see that you are indeed beneficiary you're an heir to the estate and we know what percentage of an heir you're going to be and there's a house that's going to be sold and the house is not underwater we can identify how much of an inheritance you're going to be entitled to receive give or take and we can make that decision very quickly all that information's ascertainable in moments and that's how we can make payment so quickly and so it's a lifesaver to beneficiaries to be able to get that money now and it's really crucial that the probate attorneys know that is there and can provide you know probate caches information to those beneficiaries or contact us themselves and at least let them understand that option exists you know the sad reality at least in Los Angeles you know I have a saying which is you know the average attorney is by definition average problem with probate is that 90% of the cases are done by attorneys who've done one or less in the last 12 months because your licensed an attorney you know so many TR will take the case not knowing what they're getting into and not knowing how to service their customer including not knowing about ProbateCash or equivalence and so my experience is over half the time I don't know the exact number but at least half the time when I tell attorneys that there's such a service available even though you're working as hard as you can to network with attorneys even though your whole industry is trying to reach out to them in my experience because they're not paying attention until they have the case most attorneys don't know they're such an advance and number one and number two they assume because of the pricing it's Unworthy of their customers not appreciating that's really their customer's decision to make not theirs meaning like I said the case of the woman with the funeral you might

20:41 Say that paying a 20 or 30% premium so except $10,000 should be back 12 or 13,000 six months later when she got her inheritance you could say that's ridiculously expensive she didn't say that she said it was life-changing and positive she cried on the phone thank you me but it's amazing to me Mark how few attorneys know about your industry and when I bring it up we argue with me about it rather than say hey my clients's an adult they chose to work with me let me see what their thoughts on this as a possible solution yeah well most lawyers fortunately for them either they have the resources they have good credit and they're not necessarily people who are going to require in advance at our terms like probe cash but I would I'd argue that our fees while they're High compared to a traditional loan they're high because they're non-recourse they're high because they claims that could still occur against the estate the all the risk I mean you're in Southern California where it's a horrible tragedy where so many houses have been lost on the fires those are the state asset properties that you know may be insured may not be insured so anyway the risk are real what I have found in this business and other businesses I've been in is there are a lot more people in the United States who really need cash who don't have good credit and when there's a company like per cash that can provide that Advance provide them the money when they need it and for serious needs that is incredibly important and you I think it's just an issue of attorneys and others of having empathy for your clients your client and your client's financial situation understanding that not everybody has a law degree in use

22:44 And is able to have a comfortable living and com not just a comfortable living but to have money in the bank for when problems occur and so you know when a lawyer's car breaks down they charge it and they fix it they give a credit card and it's all good when a lot of people's cars break down they don't have credit cards they have no car unless they can get cash to fix it and that's life and you're right it is it's not for everybody but it is for everybody's decision to make on their own for what's best for them yeah and I think oftentimes the attorneys you know again the below average ones they're not aware of the product so you bring it up they're going to poo it because that justifies I'm not knowing about it rather than really evaluating it and saying well who would this be right for I mean they're in business it's legal you're not you're not a mafia organization you're not you know you're under the laws of California in fact California actually regulates this to some degree and there's some you know there's been research and there was some discussion should we ban this business and they said no actually there are people who need this and when use properly it's a great tool that people can take advantage of the tool so I think it's really important that attorneys in their attempts to protect their customers or protect their reputation will poooo something that really could be for the benefit of the customer I'm not giving them legal advice but when I talk to a customer and I hear the importance of some of these systems getting money to move out of the house getting money to buy a car I had a client who was she didn't have a car a car broke down and for $5,000 you know we got her advances she got a car and was able to help out so you know one of the questions you know about this type of product oftentimes we're talking about lower income people or people financial problems maybe your mom and dad are leaving you a million dollar house but oftentimes the heir, you know has next to nothing or little there are Bank products for people like that but oftentimes you have to put money in a bank account in order to open

24:46 It to get the credit on appropriate Advance does a customer have to put deposit money down or start with some money in before they get the advance I know the answer but I'm gonna give you an easy one here yeah ProbateCash can make the payment make the advanced payment by check by a by wire to a bank account most of our customers do have at least a bank account but if not we can provide a check so we're we understand that a lot of our customers don't have a bunch of resources and that's why they're coming to us in the first place I did want to take a step back we're talking about the legalities of the prob cach business of giving advances where you are in California actually has a stat statute right on point and so when I do talk to attorneys especially in California who are have a negative attitude towards the business or you know whatever your attitude is your attitude but different is how can you do this say there's a law right on point on how one assigns their inheritance and so in California we assign we purchase a portion of that inheritance and by the way we do purchase portions we always want the beneficiaries to have skin in the game we want them to still receive money when the probate casee closes and so we never purchase the entire inheritance due to the beneficiary but to the law how it works is we're very transparent in every state we will advance money to our beneficiary who is in exchange for that Advance is getting who is signing an assignment of their inheritance we file that assignment of The Inheritance with the probate court so the judge sees it all the lawyers see it's right there it's public record knows to pay us and in fact then when it is time for the order to distribute the assets at the end of the probate case ProbateCash will be in the final order as a recipient of the person's inheritance so I also because there could be

26:50 Personal Representatives listening and other probate attorneys who say well what happens if there is a shortfall the beneficiary how does it affect the other beneficiaries how does an assignment affect the probate case in general so the short answer is it does not affect the case in any way when a benef let's say there are five beneficiaries of an estate and one beneficiary is we believe is going to receive $100,000 and we advance that person $25,000 file that assignment but then we in court and then as the case progresses through the probate courts we learned that there is a huge claim that's been approved and now the instead of $500,000 we thought was going to be in the estate $100,000 for each five benef each of the five beneficiaries now there's only going to be $10,000 and so what would happen that would be enough money to pay us back for all the estate assets however remember we are only in contract privity with the beneficiary who's receiving the advance and so we would get that beneficiary's $10,000 well short of even what we provided them but none of the other beneficiaries of the estate are affected the probate attorney not affected the length of the case not effective so everything is done as easy as possible as transparent as possible and before the eyes of the courts as well yeah literally the judge is going to sign the order with the exact amount being paid back for the advance to advance company or else nothing happens at the end of the day so it is being approved specifically signed off by the judge in the entire process you know I when I started on this path I don't know if I ever told you this but I actually did a lot of research there was an article kind of negative about it I think politically it was kind of lumped in with payday loans and some

28:53 Similar type of products and I did research and there actually were four different law review articles on the subject and they're all written by the same professor of law I think UC Davis and I actually reached out to him and interviewed him on my channel and fascinating where he said the same thing you mentioned which was you know there was this kind of controversy and then the state passed the law and he said be honest I'm not really involved in that space anymore because the law really solved the problem that there are people who need it and there are people who don't and the process kind of weeds out those two and it kind stop the abuses and so there's really nothing else for me as a researcher to talk about the system is kind of moving on its own so it is interesting how that legislation in California I do think I believe we're the only state that has those requirements and I believe you guys comply with that same regulation in the other states you operate in even though you're not required to just because it's good practice to file I think that it just makes sense for everybody yeah we follow the California statute in spirit and basically letter in every state we do business with so we file the assignments and first of all well you want everybody to know what's happening you don't want the probate attorney to be surprised at the end of the day you want to you want everybody on the same page because that's how problems are averted so that's important that's and it works so and we do a significant volume of business and almost all of that business solicits ProbateCash not the other way around so people are finding us who need money and that's a problem it is that they are you have beneficiaries who need money they call their probate attorney the probate attorney sometimes won't even speak to them because it's not their client only the personal representative is their client or the attorney has just says look I can't do anything you just have to wait until this ends because they either don't know if ProbateCash or unwilling to give advice to call us but so what happens the people find

30:59 Us through a Google search term or other way and that's how we do the majority of our business so let's talk a little bit about somebody who's interested in getting an advance imagine somebody who's inheriting maybe Mom or Dad passed left them a house and they have terrible credit so in their mind they can't get a credit card they can't get a car loan or if they can't get a car loan it's ridiculous price does a credit affect them as far as getting appropriated prate cash advant no it does not so we do not do a credit check because it's not a loan we're not depending upon the credit stop for a second you do you even do a credit check we don't even do it I don't I don't even conduct a credit check there's no need for me to if your credit is wonderful then actually if your credit is really good I encourage you to contact the bank you know a traditional lender unless you need the money immediately we do have situations where state or count is going to take the home away because tax bills haven't been paid the tax bill has to be paid immediately and the people have excellent credit but guess what there takes time to get a traditional loan we can make payment immediately so that's even people with good credit folks with bad credit are more likely to contact us but we don't run the credit report because it really has no effect on us we're not saying out low credit score we can't give money we're advancing money and we're relying we're buying an inheritance you actually these people have something of value just like it was a car or some other asset they have something of value their inheritance which they can sell now we don't know exactly what's that inheritance will turn out to be at the end of the day it depends on what is paid for the property but we do know that it's real and we've been we'll give them the advance and then we take all the risk as we said the

33:00 Claims all the risk in the probate court and not just the risk in the probate court that are normal but also the time the time frame so you know it's easy to say wellow those are high fees you know if it take if you get paid back within nine months or so what happens on the probate cases that Linger on for years and you're in LA county we do a lot of business in New York also where the courts are fogged most basically courts are fogged almost everywhere and the if you have our money for two years three years we actually cap our fees it's at the end of the day in those situations you're you know the argument that the fees are high becomes a little disingenous well I hear that from for example from attorneys who require customers to pay them a deposit for their legal fees I think well if that's so cheap why don't you lend the money or you do Advan or and the answer is they would never because it the uncertainty the it's not even just that it takes a year or two years or three years or four years it's not knowing that makes it more expensive as a lender and you have to factor in those risks and then the fact that there's possible risks that you may not get paid back because something happens as well I don't mean to berate you with possible bad scenarios but I'm sure it happens I like I said there's case where a house burned down there's cases where houses burned down later and who knows what that means and there's cases where other airs pop up so how about quite a few situations where we didn't get PID back for a myriad of different reasons like that a house has burned down claims have wiped us out turned out the Airship was incorrect or it was challenged or what happens because we do deals advances with the states or beneficiaries of Estates that where there are Wills that lay out who the beneficiaries are and what their percentage is and assuming that will is not challenged or thrown out we can rely

35:04 On that but we have a whole bunch of Estates that we work with where the decedent passed away in teste without a will and in that situation you have a good idea of who is in the family tree that's going to get paid and paid what but not always and there's a whole other world of ear finders out there and the more ears they find on the estate the less of an inheritance that the person we advance money his money to is going to be able to pay us back so that's also I had a case once where a attorney showed up and an airfinder had found they claimed at a seed in and they were you know objecting to the petition and later they end up just being an air but it was an airfinder and they brought in an advanced company to for uncover their advances interesting the advanced Comm still has not filed their assignment form as required to get paid back so I think it's one of those smaller companies that doesn't know that they need to do that to protect their interest as well but things happen wild things happen in this space for sure so on the same kind of token I think again I think I know the answer but imagine you know in AA child's been living in the house take care of the parents Mom and Dad passed now they're inheriting a million dollar house but they don't have a job you know are they gonna are they going to qualify or not qualify for priate Advance as having a job or other source of documentable income is that going to get in the way of them getting in advance no that won't either similar to the credit check these aren't loans I'm not looking for income verification I'm not calling an employer or their last employer to confirm whe whether they were indeed employed again that those kind of situations if you are applying for a loan from a traditional lender that's very important underr to this right for us it's irrelevant we are looking at the Assets in the estate and what you beneficiary are entitled to receive as your inheritance from those assets and based on that information we make a decision on whether or not to make

37:09 That advance and if we even do call the attorney the probate attorney in advance to let them know that we're doing this and most of them are actually cooperative and help us out no because at the end of the day nobody wants a problem you always want in life you always want to identify a problem right off the back hopefully before moneyy is even exchanged because it just benefits everybody so but yeah no job no problem no credit no problem again we're not even looking at that as a factor in fact you know how does somebody find us why does somebody find us is because after mom or dad has passed away the usual situation is the kids go to the bank because there's money in the bank account there's no beneficiary on the bank account they go there and say hey my mom passed away can I please get the money out of the bank account and of course the bank says can I see proof that you have authority to act on behalf of the estate where your letters testamentary and these people have never heard of letter testamentary they don't know what the banker is talking about or they're looking to quickly flip the estate property and sell it so they run to the Realtor® and get the listing agreement the Realtor® says the same thing can I see evidence that you have the legal authority to this house what are you talking about you need to get letters that's when they first called the probate attorney that's when they first learned that probate attorneys usually want money up run that's when they also learned that this whole probate process is going to take a year or more so here they thought they were getting money out of the account which they need because they have poor credit they have no job but life is still going on and they were counting on this and that's where we come in and say we with an advance from PR cash it relieves that Financial pressure so once the probate is open they don't do anything that would hurt the value of the estate such as selling real property or other assets for Far Below market value and I think also that's a good

39:13 Opportunity to talk to if you're talking to a professional and probate like a real estate professional like me I'll Marsh you through the ProbateCash process as well so we got the right attorney because one of the things I've seen happen is people kind of fix it on an attorney and you know which is great but for example Los Angeles if you don't get full Authority you have limit Authority your probate cases can take two three four years longer just because the attorney may not really know what they're doing fully or may be risk adverse where they don't need to be and so again that's why I have I do this these interviews with professionals as part of a team to say we work together and you get two or three people working on your team with you like anything else in life you're going to have better results by working together so just like Mark said they call the attorneys and work with them as well as a real estate agent I would urge you to work with the attorney work with the provate cash so that you can figure out what's the best solution for the customer and package it properly to get the best result that's the main thing so one thing our team is so experienced in underwriting and reviewing the probate cases that a lot of our customers once they've received in advance and they may come back for another advance but a lot of the times they call their representative ProbateCash just to ask what's going on with the case the attorney's not calling me back I don't know what's going on we will sit with our customers and say okay here's what stage of the probate case is here's what the docket says and you know it's still going to be a long time it's gonna be a and those conversations are often had because the personal representativ is not getting back to the beneficiaries or they don't know or the attorney isn't getting back to the personal representative usually what happens as you can imagine with probate and family there's often family skirmishes and so not all the beneficiaries communicate well with one

41:17 Another so the personal representative of the estate may not be on the best terms with their siblings who are also entitled to The Inheritance but then that leaves some of the beneficiaries out so they contact us directly but what it really does because I know a lot of professionals most of the professionals are watching your this podcast it helps attorneys keep the volume down if you don't want beneficiaries constantly calling your office updates why are they calling money right we know they're calling because they need money they need their inheritance when am I going to get my money well if you want to make the phone stop ringing at your office then you give those folks our time contact information of prob cach and then see if it's right for those beneficiaries to take an advance in prob cash well and there's two parts to that one is they want the money the part is the communication you mentioned where you fill that role and again as Realtors® on this call you should be filling that role as well I regularly check online the status of a case what the hearing was what the outcome was when the rescheduled date was what the status is and so I think that customers more relate to for example real estate professionals because we deal more with customer time attorney time is so funny you call an attorney on a Monday leave a message they'll call you back like the next Tuesday and say hey Bill I'm returning your phone call I'm like I called you oh I was like a week ago an attorney is like the only professionals who that's kind of acceptable whereas Realtors® we normally call customers back within an hour or we text them certainly by the end of the day and customers don't understand that and I don't think attorneys understand you know they want to be attorneys don't want to be small business people servicing consumers and so I think we can fill that role both ProbateCash fills that role and I as a roor fill that role with customers so that we can relieve the calls about money and also relieve the service calls you can delegate that you're hiring us as a team and while ProbateCash is Service as money and mine is a Realtor® sell in the house we also play the role

43:20 Of working with your customers so for those your attorney's listening I think that's another reason why you should be looking to work with a team that's going to help you be more effective so and so the with Realtors® Bill we U we work with Realtors® every day we help Realtors® We Believe actually obtain the listing of in a probate situation one of the things the Realtors® can offer to potential new clients to get a listing is say hey if you let me list the property I also could probably get you some cash right up front yes you know I have a source that'll will give you $5,000 right now yes to use tent whatever it may be and so that's a resource that Realtor® should also know exist and also similarly if you're getting pressure from the personal representative to take to list the property at below market value to hopefully get a quick sale or to sell to the first person that comes around they're doing that again because they don't have right or they don't want to renovate the property put a little bit of money it for sale to get fair market value so I would challenge anybody talking about you know whether our fees are high or not imagine I mean you guys are all real Realtors® if you put 20 $30,000 of repairs in a house to prepare it for sale how much more are you going to receive as a purchase price for that home once it's fixed up as opposed to selling it in the in a poor condition I mean it's going to be significantly higher than our fees could ever be so and that's going to help you as a Realtor® get a higher commission it's going to help the personal representative who usually a beneficiary because it's going to help the other beneficiaries receive more money than they thought they were going to receive yeah and I think you know the way I found you guys to be honest was all that sounded great I was working with another company local

45:23 Company and they just weren't servicing the customer you know the that I guess there's different ways to run a business but my customers were applying for Advance they weren't getting an answer within a couple days the company was not the paperwork the paperwork wasn't the customer didn't know how to get it signed they didn't have access to a notary you know we're real AG just we're used to solving those problems and so you know we can get involved and be the oil between the gears to make things move more smoothly and that's why I came to ProbateCash after going through several others was that the other companies just weren't giving me and my client the service that we needed even though they could have in some cases did you know I feel like some companies if they have happy customers 80% of the time that's good enough that doesn't work for me when an attorney gives me a client I have to make them happy 100% of the time and my reputation is on the line and like I said I work with ProbateCash you guys have always come through when I've sent people to you and I almost apologize for not sending you more business so Mark I know I've going for quite a while I'm up against the hour here I know you're busy as well so I should thank you for coming on today and sharing with our professionals and with attorneys and with families who are looking for probate advance I know pro.com is a really easy website to remember pro.com under there you have a toll-free number as well for people who want to call and then call in they don't get you fortunately they get some of your great staff members who will take those calls right away thank you so much being the call I really appreciate your time yeah bill I appreciate it as well I just wanted to add that on just to piggy back on your last statement that because I'm an attorney and I appreciate the relationship the professionals Realtors® have with their clients attorneys out with their clients I encourage you to check out the reviews of ProbateCash as well we have incredibly fantastic positive reviews naming our funding Executives our Underwriters all for that customer care that we're talking about and so that's very important to us and should be

47:25 Important to you because I would even be here if I thought we were going nor Bill entertain me if they're going to be referring to folks that we're going to have just issues of even good communication customer service and for the record I have any fate relationship I know that their different Services have been on different podcast and different Services you can sign up and get some of the commission anything to do with that here this is just purely Mark and his team have been great I did have another company that I was affiliate with and just did not give this level of service I needed consistently so my recommendation to them is pure and based on service with Mark again thanks for your time I really appreciate it always a pleasure chatting with you thanks Bill and for the rest of you this is Probate Weekly we get together every week to talk about probate issues we innovate leaders in the business you go to Probate Weekly.com if you want to get email reminders put that in if you want text reminders put that in either one's fine we don't need either one you can scroll down and see us on the various audio formats Spotify Apple podcast all that stuff and then past episodes are on YouTube the video click there and you'll get the information you can continue the conversation at Probate Weekly.com in our Facebook group we have over 4,000 members and you can post your probate related contact content or state planing related content as well as ask questions referrals for attorneys for Realtors® out of state out of the area if you need to do that as well so love to have you participate thank you for being on the call if you like this please like it subscribe love to see you soon