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advancement definition - legal

n

An irrevocable gift to an heir during an intestateÂ’s life, given with the intention that it shall diminish or extinguish the heirÂ’s share of the intestateÂ’s estate under the laws of intestate succession. See also satisfaction, ademption, and lapse.

Webster's New World Law Dictionary Copyright © 2006 by Wiley Publishing, Inc., Hoboken, New Jersey.
Used by arrangement with John Wiley & Sons, Inc.

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