• Nam Nguyen

      By Nam Nguyen
      advancement <=>n. 1. <=>The power, in a trust, to provide capital sums for the benefit of a person who is an infant or who may (but is not certain to) receive the property under a settlement. The term is a shortened form of advancement in the world <=>and has the connotation of providing a single or lump sum from the trust fund for a specific purpose of a permanent nature; examples include sums payable on marriage, to buy a house for the beneficiary, or to establish the beneficiary in a trade or profession. Before 1926,a power of advancement had to be specifically included in any settlement; since 1925a statutory power exists, subject to contrary intention. No person may receive by way of advancement more than half that to which he could ever become entitled. 2. <=>A presumption, arising in certain circumstances, that if one person purchases property in the name of another, the property is intended for the advancement of that other person and will be held beneficially by that person and not on *resulting trust for the person who purchases it. The presumption of advancement arises when a father or other person in the position of a parent purchases property for a child. The presumption does not automatically arise in the case of a mother because until 1882 a married woman could not, during marriage, own property; her automatic exclusion from the presumption now seems nonsensical (especially as a mother now has a statutory duty to maintain her children), although she will in many cases be found to be "in the position of a parent". A similar presumption has been held to exist when a husband purchases property for his wife (though not viceversa), and occasionally a man for his mistress, but the strength (and perhaps even the existence) of this presumption is doubtful. The presumption may be rebutted by evidence that advancement was not intended. This evidence may be parol evidence (i.e, given orally).