A deceased estate, also known as an estate or probate, refers to the assets, liabilities, and legal responsibilities left behind by a person who has passed away. It encompasses all the property, possessions, and financial obligations that belonged to the deceased individual at the time of their death.

When a person dies, their estate enters a legal process called probate or estate administration. During this process, the deceased person's will is validated, if there is one, and an executor or administrator is appointed to handle the distribution of assets, payment of debts, and resolution of any legal matters. The executor or administrator is responsible for managing the deceased estate in accordance with the laws of the jurisdiction where the person lived.

The estate may include various types of assets such as real estate, bank accounts, investments, vehicles, personal belongings, and other valuable items. It may also consist of debts, including outstanding loans, mortgages, credit card balances, and any other financial obligations the deceased had.

The executor or administrator's primary duties involve identifying and valuing the assets and liabilities of the deceased estate, settling any outstanding debts or taxes, and distributing the remaining assets to the beneficiaries mentioned in the will or determined by the laws of intestacy (if there is no will).

Deceased estates can be complex, particularly if there are disputes among family members or complications regarding the will or the distribution of assets. It is common for legal and financial professionals to be involved in the probate process to ensure that the estate is handled correctly and in accordance with the applicable laws.

It is possible to obtain financial advances on deceased estates in certain situations. These advances are commonly referred to as probate loans, estate loans, or inheritance loans. They are essentially loans secured by the assets or expected proceeds of an estate.

Probate loans against deceased estates are typically provided by specialised financial institutions or private lenders who understand the probate process and are willing to advance funds to heirs or beneficiaries before the estate settlement is finalised. These loans are not based on the creditworthiness of the individual seeking the advance but are instead secured by the value of the estate itself.

The specific terms and conditions of probate loans can vary depending on the lender and the circumstances. Generally, the lender will evaluate the estimated value of the deceased estate and the likelihood of a successful probate process. If approved, the lender may provide an advance that is a percentage of the expected inheritance. The loan is repaid from the proceeds of the estate once it is settled.

It is important to note that probate loans often come with high interest rates and fees, so careful consideration should be given to the terms and the potential impact on the final distribution of the estate. It is advisable to seek professional advice from an attorney or financial advisor before entering into any financial arrangements related to a deceased estate.