advancement
ad·vance·ment n: something given in advance; specif: money or property given as a gift by a living person (as by a parent to a child) with the intention that the amount the recipient inherits under the law from the person's estate will be reduced proportionately compare ademption
◇ Advancements apply only when the person making the gift dies without a will. The Uniform Probate Code requires written evidence that the gift was intended to be an advancement. A person who gives a gift that is not intended as an advancement cannot later change it to an advancement. A gift given as an advancement can, however, be changed into an outright gift.

Merriam-Webster’s Dictionary of Law. . 1996.

advancement
I (improvement) noun aggrandizement, amplification, betterment, development, elaboration, elevation, emendation, enlargement, expansion, furtherance, gain, gradus amplior, growth, increase, progress, progression, promotion, rise II (loan) noun accommodation, advance, allowance, anticipation, concession, consideration, investment, realization in advance associated concepts: intestate succession, statute of distribution III index advocacy, application, augmentation, boom (increase), boom (prosperity), civilization, development (progression), edification, elevation, favor (sanction), growth (evolution), growth (increase), incursion, loan, longevity, preference (priority), profit, progress, reform, step, suggestion

Burton's Legal Thesaurus. . 2006


advancement
n.
A portion of an anticipated inheritance paid before the death of the testator (usually a parent to a child) that is then deducted from the recipient’s share of the estate after the testator’s death.

The Essential Law Dictionary. — Sphinx Publishing, An imprint of Sourcebooks, Inc. . 2008.


advancement
See advance.

Collins dictionary of law. . 2001.


advancement
A gift made by a living person — usually from a parent to a child — with the intent that the amount will proportionately reduce the recipient's share of the gift-giver's estate. Gifts made shortly before death are more typically treated as advancements than those made years earlier.
Category: Wills, Trusts & Estates → Estates, Executors & Probate Court
Category: Wills, Trusts & Estates → Wills

Nolo’s Plain-English Law Dictionary. . 2009.

advancement
England, Wales
Used in the context of trusts to mean:
• Setting a beneficiary up in life (or taking a step towards setting him up), for example, by paying for his professional training or providing start-up funding for his business.
• Using trust capital to benefit a beneficiary, for example, by advancing money to him or making a settled advance.
Both meanings come into play when trustees exercise a power of advancement. The trustees are then advancing capital (in the second sense given above) for a beneficiary's advancement (in the first sense given above) or benefit.
See also appointment.

Practical Law Dictionary. Glossary of UK, US and international legal terms. . 2010.


advancement
n. An irrevocable gift to an heir during an intestate's life, given with the intention that it shall diminish or extinguish the heir's share of the intestate's estate under the laws of intestate succession.

Webster's New World Law Dictionary. . 2000.


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.

Dictionary from West's Encyclopedia of American Law. 2005.


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.

Short Dictionary of (mostly American) Legal Terms and Abbreviations.

advancement
n.
   a gift made by a person to one of his or her children or heirs (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.

Law dictionary. . 2013.

Synonyms:

Look at other dictionaries:

  • Advancement — Ad*vance ment ([a^]d*v[.a]ns ment), n. [OE. avancement, F. avancement. See {Advance}, v. t.] 1. The act of advancing, or the state of being advanced; progression; improvement; furtherance; promotion to a higher place or dignity; as, the… …   The Collaborative International Dictionary of English

  • advancement — advancement, preferment, promotion, elevation designate the act of raising a person in grade, rank, or dignity, or the honor that comes to one who is so raised. Advancement is the general term of widest application {lose all hope of advance me… …   New Dictionary of Synonyms

  • advancement — (n.) c.1300, avauncement, a raising to a higher rank, from O.Fr. avancement advancement, profit, advance payment, from avancer (see ADVANCE (Cf. advance) (v.)). Of money, from 1640s …   Etymology dictionary

  • advancement — [n1] promotion, progress advance, amelioration, betterment, elevation, gain, growth, headway, improvement, preference, preferment, prelation, rise, upgrading; concepts 700,704 Ant. cessation, decline, descent, downfall, regression, retreat,… …   New thesaurus

  • Advancement — (frz., spr. awangßmáng), Beförderung, Aufrücken in eine höhere Stelle; avancieren, vorwärts gehen, vorrücken; befördert werden; im voraus bezahlen …   Kleines Konversations-Lexikon

  • advancement — ► NOUN 1) the process of promoting a cause or plan. 2) the promotion of a person in rank or status. 3) a development or improvement …   English terms dictionary

  • advancement — [ad vans′mənt, ədvans′mənt] n. 1. an advancing or being advanced 2. promotion, as to a higher rank 3. progress or improvement; furtherance 4. Law money or property given as an advance share in the estate of a person who later dies without making… …   English World dictionary

  • advancement — money or property given to a person by the deceased before death and intended as an advance against the beneficiary s share in the will. Bloomberg Financial Dictionary * * * advancement UK US /ədˈvɑːnsmənt/ noun ► [C or U] an improvement relating …   Financial and business terms

  • advancement — noun ADJECTIVE ▪ individual, personal ▪ collective ▪ career ▪ social ▪ material …   Collocations dictionary

  • advancement — n. 1) to further, speed smb. s advancement 2) to block smb. s advancement 3) professional advancement 4) rapid, slow advancement * * * [əd vɑːnsmənt] slow advancement speed smb. sadvancement professional advancement rapid to block smb. s… …   Combinatory dictionary

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