Advancement(redirected from advansement)
Also found in: Dictionary, Thesaurus, Medical, Legal, Encyclopedia.
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.
Copyright © 2012, Campbell R. Harvey. All Rights Reserved.
Any asset given to a person before the donor's death with the agreement that the asset will be considered part of the recipient's inheritance from the donor's estate when he/she dies. That is, if an elderly person has left his granddaughter 20% of his estate in his will, but gives her cash or assets equal in value to 5% of the estate as an advancement, then the granddaughter will only receive 15% of the estate when the elderly person dies.
Farlex Financial Dictionary. © 2012 Farlex, Inc. All Rights Reserved