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LSDefine

Simple English definitions for legal terms

advancement

Read a random definition: workers'-compensation board

A quick definition of advancement:

An advancement is a gift given by someone to a family member while they are still alive, usually when they think they might die soon. When the person who gave the gift dies, the value of the gift is counted as part of their estate. This means that the family member who received the gift might get less from the person's estate than they would have otherwise. The point of an advancement is to make sure that all family members are treated equally when the person who gave the gift dies.

A more thorough explanation:

An advancement is a gift given by someone to a family member while they are still alive. This is usually done when the person giving the gift thinks they might die soon. When the person dies, the value of the gift is included in the calculation of their estate. This means that the amount of money or property the family member receives from the estate will be reduced by the value of the gift. The main reason for giving an advancement is to make sure that all family members are treated equally when the estate is divided up.

For example, let's say that a father has three children. He gives one of his children a car as an advancement. When the father dies, his estate is worth $300,000. Without the advancement, each child would receive $100,000. However, because of the advancement, the child who received the car will only receive $80,000. This is because the value of the car is $20,000, and that amount is subtracted from the child's share of the estate.

This example shows how an advancement can affect the distribution of an estate. By giving the car as an advancement, the father was able to make sure that all of his children received an equal share of his estate.

advance sheets | adversary proceeding

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20:26
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ronniedoeslaw
23:31
Knicks really choked
ronniedoeslaw
23:32
Is it worth moving to Florida for law school?
I’d only do it for uf
ronniedoeslaw
0:36
That’s a good point
BlueFalcon95
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BlueFalcon95
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BlueFalcon95
1:19
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what tier is an mba
+ my undergrad and masters dont have a numerical gpa (international), will that hurt/help me? tyyy
an mba isnt even T4, international will hurt you
soft tiers are subjective and made up
@BruceSutter: only when the evaluator is low skill
@FartSmeller5000: the us isnt exactly down with non americans getting the high paying jobs rn
@ronniedoeslaw: if that is your 3
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While tony montanna
NosyBeagle
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i am once again being chronically online by talking to you guys
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ronniedoeslaw
10:55
Started the show Suits this week & idk why I never watched but it’s so good
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its like the west wing for me in that I like it for awhile then abruptly stop watching it once it all just feels like rehashes of the same stuff
ronniedoeslaw
11:14
Yeah I have a feeling after the first 3-4 seasons they run out of new ideas and it gets over saturated
11:22
I stopped watching by Season 3 lol
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Season 1 - 2.5 were good but after that it got kinda boring ngl
OrangeThing
11:25
1 and 2 are good, 5 is great, skip the rest
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AngryMiniCar
11:45
Anyone applying upcoming cycle?
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ye
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i am
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