advancement

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Advancement

A gift of money or property made by a person while alive to his or her child or other legally recognized heir, the value of which the person intends to be deducted from the child's or heir's eventual share in the estate after the giver's death.

An advancement is not the same as a gift or a loan because the person intends that the "advance" of the heir's share of the estate be applied against what the heir would normally inherit. Although sometimes used to describe situations involving both people who have died intestate (without leaving a valid will) and people who have left a will, the term advancement should be used only when there is no valid will. The laws of Descent and Distribution regulate the distribution of an intestate's property. The term Ademption applies to lifetime gifts that reduce a beneficiary's share under a will.

advancement

n. a gift made by a person to one of his or her children or heir (a presumptive heir since an heir is only determined on the date of death) in anticipation of a gift from the still-living parent's potential estate as an advance on one's inheritance. Example: John Richguy is going to leave his son $100,000 under his will or a percentage of the estate on John's death. John gives the son $50,000 with the intention that it would be deducted from the inheritance. The main problem is one of proof that the advanced sum was against the projected inheritance. A person making an advancement should leave a written statement about the advancement or get a signed receipt. Such gifts made shortly before death are more readily treated as an advancement than one made several years earlier. (See: estate, beneficiary)

advancement

(Improvement), noun amplification, betterment, development, elaboration, elevation, emendation, enlargement, expansion, gain, gradus amplior, growth, increase, progress, progression, promotion, rise

advancement

(Loan), noun accommodation, allowance, anticipation, concession, consideration, investment, realization in advance
Associated concepts: intestate succession, statute of distribution
See also: advocacy, application, augmentation, boom, civilization, development, edification, elevation, favor, growth, increase, incursion, loan, longevity, preference, priority, profit, progress, prosperity, reform, sanction, step, suggestion

advancement

see ADVANCE.

ADVANCEMENT. That which is given by a father to his child or presumptive heir, by anticipation of what he might inherit. 6 Watts, R. 87; 17 Mass. R. 358; 16 Mass. R. 200; 4 S. & R. 333; 11 John. R. 91; Wright, R. 339. See also Coop Just. 515, 575; 1 Tho. Co. Lit. 835, 6; 3 Do. 345, 348; Toll. 301; 5 Vez. 721; 2 Rob. on Wills, 128; Wash. C. C. Rep. 225; 4 S. & R. 333; 1 S. & R. 312; 3 Conn. Rep. 31; and post Collatio bonorum.
     2. To constitute an advancement by the law of England, the gift must be made by the father and not by another, not even by the mother. 2 P. Wms. 856. In Pennsylvania a gift of real or personal estate by the father or mother may be an advancement. 1 S. & R. 427; Act 19 April 1794, Sec. 9; Act 8 April, 1833, Sec. 16. There are in the statute laws of the several states provisions relative to real and personal estates, similar in most respects to those which exist in the English statute of distribution, concerning an advancement to a child. If any child of the intestate has been advanced by him by settlement, either out of the real or personal estate, or both, equal or superior to the amount in value of the share of such child which would be due from the real and personal estate, if no such advancement had been made, then such child and his descendants, are excluded from any share in the real or personal estate of the intestate.
     3. But if the advancement be not equal, then such child, and in case of his death, his descendants, are entitled to receive, from the real and personal estate, sufficient to make up the deficiency, and no more.
     4. The advancement, is either express or implied. As to what is an implied advancement, see 2 Fonb. Eq. 121; 1 Supp. to Ves. Jr. 84; 2 lb. 57; 1 Vern. by Raithby, 88, 108, 216; 5 Ves. 421; Bac. Ab. h.t.; 4 Kent, Com. 173.
     5. A debt due by a child to his father differs from an advancement. In case of a debt, the money due may be recovered by action for the use of the estate, whether any other property be left by the deceased or not; whereas, an advancement merely bars the child's right to receive any part of his father's estate, unless he brings into hotch pot[?] the property advanced. 17 Mass. R. 93, 359. See, generally, 17 Mass. R. 81, 356; 4 Pick. R. 21; 4 Mass. R. 680; 8 Mass. R. 143; 10. Mass. R. 437; 5 Pick. R. 527; 7 Conn. R. 1; 6 Conn. R. 355; 5 Paige's R. 318; 6 Watts' R. 86, 254, 309; 2 Yerg. R. 135; 3 Yerg. R. 95; Bac. Ab. Trusts, D; Math. on Pres. 59; 5 Hayw. 137; 11 John. 91; l Swanst. 13; 1 Ch. Cas. 58; 3 Conn. 31; 15 Ves. 43, 50; U. S. Dig. h.t.; 6 Whart. 370; 4 S. & R. 333; 4 Whart. 130, 540; 5 Watts, 9; 1 Watts & Serg. 390; 10 Watts, R. 158; 5 Rawle, 213; 5 Watts, 9, 80; 6 Watts & Serg. 203. The law of France in respect to advancements is stated at length in Morl. Rep. de Jurisp. Rapport a succession.

References in classic literature ?
No sooner had the beautiful Madame Rabourdin decided to interfere in her husband's administrative advancement than she fathomed Clement des Lupeaulx's true character, and studied him thoughtfully to discover whether in this thin strip of deal there were ligneous fibres strong enough to let her lightly trip across it from the bureau to the department, from a salary of eight thousand a year to twelve thousand.
I do not think that any honorable cavalier could ask for better chance of advancement than might be had by spurring forth before the army and riding to the gateways of Narbonne, or Bergerac or Mont Giscar, where some courteous gentleman would ever be at wait to do what he might to meet your wish or ease you of your vow.
and in his youth it was no uncommon thing for a cavalier to abide for weeks at such a point, holding gentle debate with all comers, to his own advancement and the great honor of his lady.
What may be called the first part appeared originally in English in 1605 and is known by the abbreviated title, 'The Advancement of Learning'; the expanded Latin form has the title, 'De Augmentis Scientiarum.
After remaining ten years Attache (several years after the lamented Lord Binkie's demise), and finding the advancement slow, he at length gave up the diplomatic service in some disgust, and began to turn country gentleman.
Our difference of opinion amounts to this, that you make the mainspring self-interest, while I suppose that interest in the common weal is bound to exist in every man of a certain degree of advancement.
My lieutenant, for instance, is a man of wonderful courage and enterprise; he is madly desirous of glory, or rather, to word my phrase more characteristically, of advancement in his profession.
Also, to declare how astounded I have been by the amazing changes I have seen around me on every side, - changes moral, changes physical, changes in the amount of land subdued and peopled, changes in the rise of vast new cities, changes in the growth of older cities almost out of recognition, changes in the graces and amenities of life, changes in the Press, without whose advancement no advancement can take place anywhere.
in Hornsey, Highgate, Brixton, and Camberwell--they cannot but entertain a lively sense of the inestimable benefits which must inevitably result from carrying the speculations of that learned man into a wider field, from extending his travels, and, consequently, enlarging his sphere of observation, to the advancement of knowledge, and the diffusion of learning.
Mr Swiveller heard this account with a degree of admiration not altogether consistent with the project in which he had just concurred, but his friend attached very little importance to his behavior in this respect, probably because he knew that he had influence sufficient to control Richard Swiveller's proceedings in this or any other matter, whenever he deemed it necessary, for the advancement of his own purposes, to exert it.
Enlisted advancements are based on vacancies in the fleet and correlate with efforts to balance the force.

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