An advancement is an irrevocable gift made while living by a parent to his or her child, with the intent that the gift is to represent all or part of the parent's estate to which the child would be entitled on the death of the parent intestate. In some jurisdictions, statutes create advancements despite the parent's intent, and in other jurisdictions an advancement is not limited to gifts from parent to child, but may include such transfers from a specified donor to a specified heir.
An advancement is different from a debt or loan, because an advancement is made without consideration (the receipt of someting in return). An advancement is also to distinguished from a gift since the donee must account for the gift before the donee is permitted to share in the intestate's estate. Gifts made shortly before death are more readily treated as an advancement than one made several years earlier, especially without a written statement of intention of an advancement .
