Advancement

Advancement

Definition

Compensation by one party in anticipation of a loss or damage that will be or is being sustained by another. In the context of estate distribution, advancement refers to the partial or full satisfaction of an heir's inheritance by an inter vivos gift made by the decedent to the recipient, which may require written acknowledgment that the gift is an advance on inheritance. Advancement is typically applied to intestate decedents; the related concept for testate decedents is ademption by satisfaction.

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