Legal Question in Wills and Trusts in California
can i get a loan on my inharidence or will from my grandmother?
3 Answers from Attorneys
Ask her. What I think you mean is, are there lenders out there who are willing to lend on very unfavorable terms to fools. Possibly yes.
It is up to your grandmother if she wants to make you a loan and, if so, on what terms. Very typically estate plans provide that any loans to beneficiaries will be offset against their bequest.
IMPORTANT NOTICE: The above response is not intended to, and does not, create an attorney-client, fiduciary or other confidential relationship with the responder. Neither does it constitute the providing of legal advice or services or the giving of a legal opinion by the responder. Such a relationship can only be created, and legal advice and/or legal services provided, pursuant to a written agreement with the responder. Accordingly, no obligations of any kind are assumed with respect to any matter or question presented. It should also be noted that legal issues are often time sensitive and legal rights may be lost or compromised if you do not act in a timely fashion.
I'm assuming your grandmother is already deceased. There are lenders who will lend you money if you put up your inheritance as collateral. These are either called inheritance loans or inheritance advances. However, the interest rate on these loans are very high. Therefore these loans are usually not recommended unless an heir is desperate.