Mum (Dad has passed) has gifted a large sum of money to my sister while she is still alive, it is an advancement on what sis will inherit. Estate to be divided equally tween me, sis and brother. Should Mum put a mention of the advancement in her will or write a letter to accompany? Thanks
Should substantial gift to one sister be noted in the will?
- Thread starter Cath Ann
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Brendan Burgess
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63.—(1) Any advancement made to the child of a deceased person during his lifetime shall, subject to any contrary intention expressed or appearing from the circumstances of the case, be taken as being so made in or towards satisfaction of the share of such child in the estate of the deceased or the share which such child would have taken if living at the death of the deceased, and as between the children shall be brought into account in distributing the estate.
(5) The onus of proving that a child has been made an advancement shall be upon the person so asserting, unless the advancement has been expressed in writing by the deceased.
(6) For the purposes of this section, “advancement” means a gift intended to make permanent provision for a child and includes advancement by way of portion or settlement, including any life or lesser interest and including property covenanted to be paid or settled. It also includes an advance or portion for the purpose of establishing a child in a profession, vocation, trade or business, a marriage portion and payments made for the education of a child to a standard higher than that provided by the deceased for any other or others of his children.
(5) The onus of proving that a child has been made an advancement shall be upon the person so asserting, unless the advancement has been expressed in writing by the deceased.
(6) For the purposes of this section, “advancement” means a gift intended to make permanent provision for a child and includes advancement by way of portion or settlement, including any life or lesser interest and including property covenanted to be paid or settled. It also includes an advance or portion for the purpose of establishing a child in a profession, vocation, trade or business, a marriage portion and payments made for the education of a child to a standard higher than that provided by the deceased for any other or others of his children.
Brendan Burgess
Founder
- Messages
- 53,732
“advancement” means a gift intended to make permanent provision for a child
What does that actually mean? Are all gifts advancements?
What does that actually mean? Are all gifts advancements?
Brendan Burgess
Founder
- Messages
- 53,732
It seems to be common practice for the will to specifically exclude such advancements
Succession act section 63 and 55 explanation help
can anyone help in explaining in plain English what these 2 sections mean. A relative who recently passed away left a will and the solicitor who wrote up the will has sent us the will. In the writing of the will the solicitor wrote "I declare that no advancement within the meaning of section...
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I am in a similar situation, gifted a sizeable amount of cash a number of years ago and starting to get concerned the executor (sibling) will try to say this was an advancement when known (when it wasn't but executor having financial challenges so will clutch at those straws, believe me!) but there's no mention of this gift or anything to do with advancements in parents will and it was a legitimate gift. Any idea what to do?