(A) An advance on a payment, gift or right. Usually made in the context of estate matters, where a gift is made by a parent to a child with the intent of reducing the amount of that gift from the recipient’s share of the parent’s estate. Thus this is an advancement of inheritance during the life of the testator. (B) That which is given by a father to his child or presumptive heir, by anticipation of what he might inherit.
Law Dictionary – Alternative Legal Definition
Money or property given by a father to his child or presumptive heir, or expended by the former for the latter’s benefit, by way of anticipation of the snare which the child will inherit in the father’s estate and intended to be deducted therefrom. It is the latter circumstance which differentiates an advancement from a gift or a loan. Grattan v. Grattan, 18 111. 167, 65 Am. Dec. 726; Berlnger v. Lutz, 188 Pa. 364, 41 Atl. 643; Daugherty v. Rogers, 119 Ind. 254, 20 N. E. 779, 3 LR. A. 847; Hattersley v. Blssett, 51 N. J. Eq. 597, 20 Atl. 187, 40 Am. St. Rep. 532; Chase v. Ewing, 51 Barb. (N. Y.) 597; Osgood v. Breed, 17 Mass. 356; Nicholas v. Nicholas, 100 Va. 660, 42 S. E. 669; Moore v. Freeman, 50 Ohio St 592, 35 N. E. 502; Appeal of Porter, 94 Pa. 332; Bissell v. Bissell, 120 Iowa, 127, 94 N. W. 465; In re Allen’s Estate, 207 Pa. 325, 56 Atl. 928. Advancement, in its legal acceptation, does not involve the idea of obligation or future liability to answer. It is a pure and irrevocable gift made by a parent to a child in anticipation of such child’s future share of the parent’s estate. Appeal of Yundt, 13 Pa. 580. 53 Am. Dec. 496. An advancement is any provision by a parent made to and accepted by a child out of his estate, either in money or property, during his lifetime, over and above the obligation of the parent for maintenance and education. Code Ga. 1882,