Abatement
A reduction in the amount paid to creditors or beneficiaries, because an estate does not have sufficient assets to satisfy all of the decedent's obligations.
Pennsylvania assigns a specific order for the abatement of testamentary gifts, based upon the type of gift and the beneficiary's relationship to the testator.
See: Ademption; Lapse
A reduction in the amount paid to creditors or beneficiaries, because an estate does not have sufficient assets to satisfy all of the decedent's obligations.
Pennsylvania assigns a specific order for the abatement of testamentary gifts, based upon the type of gift and the beneficiary's relationship to the testator.
See: Ademption; Lapse