Advancements

An advancement is a gift given by a decedent to an heir during their lifetime that may reduce the amount the heir receives from the estate after the decedent's death. For the gift to count as an advancement against the heir's share, it must be explicitly declared by the decedent or acknowledged in writing by the heir. The value of the gift is assessed based on its worth at the time the heir received it or at the decedent's death, depending on which occurs first.

A mother gives her son $20,000 as a gift while she is alive but does not mention that it is an advancement against his future inheritance. After her death, the estate is worth $100,000, and the son does not acknowledge the gift in writing. The son will receive the full $100,000 from the estate, as the gift does not count as an advancement.

Gifts count as advancements only if declared or acknowledged in writing!

Exams may present scenarios where a gift is given but lack clear declarations or acknowledgments, leading students to mistakenly treat it as an advancement. Students often overlook the requirement for written acknowledgment by the heir.

Questions typically involve fact patterns where a decedent gives gifts to heirs and test whether those gifts should be treated as advancements, often requiring careful analysis of the language used in the gift or any subsequent acknowledgments.