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When an estate is not large enough to pay all the expenses, taxes and gifts in a will then there are rules to determine which payments will decrease or "abate". Generally residuary bequests abate first. These are gifts of "everything else" or "the balance of my estate". Then general legacies abate pro rata and then specific legacies abate pro rata. || Back
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Donald M. Thompson * 55
W. Monroe #3950; Chicago, IL 60603 - Illinois Probate Lawyer |
