What does abatement refer to in the context of a will?

Abatement in the context of a will specifically refers to the reduction of a legacy or bequest when the assets of the estate are insufficient to cover all debts and obligations. When an estate is settled, if there are not enough assets to fulfill all the legacies as they were specified, the court will prioritize certain bequests over others. This means some legacies may need to be reduced or even eliminated, depending on the available assets and the priorities established in the will or by law.

Understanding abatement is crucial for those involved in estate planning and administration, as it ensures the proper handling of an estate’s distribution according to the legal framework. This term is particularly relevant during the probate process, where the financial realities of the estate may not align with the testator's intentions expressed in the will.