2105.051 Advancements - time of valuation.
2105.051 Advancements - time of valuation.
When a person dies, property that he gave during his lifetime to an heir shall be treated as an advancement against the heir’s share of the estate only if declared in a contemporaneous writing by the decedent, or acknowledged in writing by the heir to be an advancement. For this purpose, property advanced is valued as of the time the heir came into possession or enjoyment of the property, or as of the time of death of the decedent, whichever occurs first. If the heir does not survive the decedent, the property shall not be taken into account in computing the intestate share to be received by the heir’s issue, unless the declaration or acknowledgment provides otherwise.
Effective Date: 01-01-1976