{"jurisdiction": "us-ny", "code": "eptl", "section": "2-1.5", "citation": "EPTL § 2-1.5", "heading": "Advancements and their adjustment", "text": ["§ 2-1.5 Advancements and their adjustment", "(a) An advancement is an irrevocable gift intended by the donor as an anticipatory distribution in complete or partial satisfaction of the interest of the donee in the donor's estate, either as distributee in intestacy or as beneficiary under an existing will of the donor.", "(b) No advancement shall affect the distribution of the estate of the donor unless proved by a writing contemporaneous therewith signed by the donor evidencing his intention that the gift be treated as an advancement, or by the donee acknowledging that such was the intention.", "(c) When so proved, the advancement is part of the estate of the donor for the purpose of distribution. If such advancement is equal to or greater than the interest of the donee, whether in intestacy or under the will, such donee or his successor in interest may not share in the distribution of the estate; but if less than such intestate share or testamentary interest, the donee or his successor in interest may take his intestate share or testamentary interest reduced by the amount of the advancement.", "(d) Unless otherwise provided in a writing contemporaneous with the advancement and signed by the donor:", "(1) An advancement, made as provided in this section, may be adjusted out of the property of the donor in such manner as may be equitable.", "(2) The advancement shall have the value at which it is appraised for estate tax purposes, or, if not included in the gross taxable estate of the donor, the value at which it would have been appraised if included therein.", "(e) Nothing in this section shall increase or decrease the elective share of a surviving spouse under either 5-1.1 or 5-1.1-A except to the extent authorized by paragraph (b) of those sections."], "official_source": "https://www.nysenate.gov/legislation/laws/EPT/2-1.5", "from_official_api": true, "plain_english": "An advancement is a lifetime gift counted against the recipient's later share of the donor's estate, but only if proved in writing.\n- **(a)** An advancement is an **irrevocable gift intended to satisfy all or part of the recipient's share** of the donor's estate, as an intestate distributee or as a beneficiary under an existing will.\n- **(b)** It affects distribution **only if proved by a contemporaneous writing signed by the donor** showing that intent, **or signed by the recipient acknowledging** it. ★\n- **(c)** A proved advancement is part of the estate for distribution. If it **equals or exceeds** the recipient's share, the recipient or successor in interest **takes nothing**; if **less**, the share is **reduced by the amount of the advancement**. ★\n- **(d)** Unless the donor's contemporaneous signed writing says otherwise, the advancement may be **equitably adjusted** out of the donor's property and is valued at its **estate-tax appraisal value**, or the value it would have had if included in the gross taxable estate.\n- **(e)** This section does not increase or decrease a surviving spouse's elective share under **§ 5-1.1 or § 5-1.1-A**, except as paragraph (b) of those sections allows.", "in_force_on": "2026-05-31", "retrieved": "2026-09-27", "url": "https://elyphived.com/us-ny/eptl/2-1.5", "publisher": "Elyphived LLC"}