MLchartDataset catalogue

Advancement

Term · Law · MLC-T-LAW-000412

A gift made by a parent to a child during the parent's lifetime, intended to be deducted from the child's share of the parent's estate upon the parent's death. This concept prevents unequal distribution among heirs if one child has already received a substantial portion of the inheritance. State statutes often govern the requirements for an advancement to be recognized.

Table 1. Record
IdentifierMLC-T-LAW-000412
FieldLaw
Record as JSON 
{
  "id": "MLC-T-LAW-000412",
  "term": "Advancement",
  "field": "Law",
  "definition": "A gift made by a parent to a child during the parent's lifetime, intended to be deducted from the child's share of the parent's estate upon the parent's death. This concept prevents unequal distribution among heirs if one child has already received a substantial portion of the inheritance. State statutes often govern the requirements for an advancement to be recognized.",
  "url": "https://mlchart.com/terminology/law/advancement/"
}

Record 182 of 5,439 in Law terminology (MLC-0107). Request the full dataset.