Which of the following statements regarding the distribution of an estate is not correct? Payments in accordance with the Will provisions are made to beneficiaries, then creditors of the estate next. If an estate's expenses exceed the assets, the estate is said to be 'insolvent'. Provincial laws require that debts, fees and taxes owing must be paid prior to distribution to beneficiaries. If a bequest under the Will is large, a testator may decide to make payments in instalments rather than one lump sum