Effects of Lifetime Gifts to An Heir or Will Beneficiary

Question 1

Common Law

Answer 1

Presumptively an advancement of child’s share

Question 2

UPC Majority Rule

Answer 2

Not presumed to be an advancement unless: declared as such in contemporaneous writing by donor
OR
acknowledged as such in a writing by donee

Question 3

Calculating Advancement when Distribution is Made

Answer 3

Advanced amount will be added to estate and divided equally, then amount advanced will be subtracted from donee.

Question 4

Satisfaction of Legacy

Answer 4

Applies to general legacies NOT specific bequests.

testamentary gift will be satisfied by inter vivos transfer to beneficiary after subsequent execution of the will if Testator intends it it must be:

declared in contemporaneous writing by donor OR acknowledged in writing by donee

Will provides for reduction of legacies by any lifetime gift.