Abatement Flashcards
1
Q
ABATEMENT
A
Abatement is the process of reducing testamentary gifts in cases
where the estate assets are not sufficient to pay all claims against
the estate and satisfy all bequests and devises. If the testator does
not set out an order of abatement in the will, testamentary gifts will
usually abate in the following order:
* Property passing by intestacy
* Residuary estate
* General legacies
* Demonstrative legacies
* Specific bequests and devises
2
Q
A
To the extent they can be satisfied from the designated source, demonstrative legacies are treated as specific legacies for abatement purposes. To the extent the fund is insufficient, demonstrative legacies are treated as general legacies for abatement purposes.
