Question
Where, after payment of debts, there are insufficient assets in an estate to satisfy all gifts in the will, the gifts will be diminished in
Where, after payment of debts, there are insufficient assets in an estate to satisfy all gifts in the will, the gifts will be diminished in the following order
1. residue; general legacies; demonstrative legacies; specific legacies; devises of real estate
2. general legacies; specific legacies; demonstrative legacies; residue; devises of real estate
3. devises of real estate; specific legacies; general legacies; demonstrative legacies; residue
4. demonstrative legacies; devises of real estate; general legacies; specific legacies; residue
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Business Law Principles and Practices
Authors: Arnold J. Goldman, William D. Sigismond
9th edition
1133586562, 978-1285632995, 1285632990, 978-1285675367, 978-1133586562
