If you are the Executor or Administrator of an estate then it’s likely you will face costs. Ultimately the costs will be paid for by the estate before funds are distributed to the beneficiaries but some costs need to be paid before the estate funds are available. This means the Executor or Administrator will need to use their personal funds to pay for estate costs. Examples of such costs are funeral costs, professional fees (probate, valuers, surveyors), house repairs and maintenance, insurance, garden maintenance and house clearance. These are known as testamentary expenses.
Testamentary expenses are unavoidable and often unexpected but there is a finance product that can help. A finance product designed for exactly this situation.
The Estate Expenses Loan
Estate expense funding helps executors or administrator who have to pay up-front for testamentary expenses.
The costs they have to cover in relation to carrying out their role, for which they are personally liable.
Estate expense funding is available to executors and administrators who are unable (or unwilling) to fund the costs associated with administering an estate.
It’s not a traditional loan – there are no credit checks and you don’t have to own a home as there are no charges over any property. There are no monthly repayments as the loan is repaid from the estate proceeds so income and affordability don’t need to be assessed.
It’s simple, straightforward and there’s no risk.