Collation of advancements refers to the grouping of the assets of an intestate to determine the value of what he has already given to some heirs during his lifetime so that the estate may be fairly distributed among all the heirs.
When parties to a bill to collate advancements and equalize heirs, at the time the bill was disposed of in favor of complainants, had no knowledge of the existence of a certain claim in favor of the estate, which had not been an asset before the court, nor in any way disposed of, the decree was not res judicata, estopping a like collation and equalization respecting such claim, when it thereafter became an available asset for distribution. [Daniels v. Pickett, 59 S.W. 148 (Tenn. Ch. 1900)].