Case study: When beneficiaries can’t agree
An estate of £500,000 was left to be shared between family members. The main asset is a house – all beneficiaries want to sell the property, the problem is they can’t agree on the price.
One family member wants a quick sale and is willing to accept a lower offer to get their money out of the property. The other beneficiaries aren’t in such a rush, instead they want to keep the house on the market and wait for the best offer to come along.
It became a stalemate.
With the Inheritance Advance product Tower Street Finance was able to offer one of the beneficiaries, who was eager to keep the property on the market, a proportion of their expected inheritance from the sale of the house.
The beneficiary who was eager to get their hands on their inheritance quickly was bought out of the house at the price they were prepared to accept, leaving the remaining family members to focus on selling the property for a better price.
To find out more about Inheritance Advance click here.