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Marsha411JD, Attorney
Category: Estate Law
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Experience:  Licensed Attorney with 28 yrs. exp. with Estate Law issues
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When there is not enough cash in an estate to satisfy specific

Resolved Question:

When there is not enough cash in an estate to satisfy specific cash bequests in the will, does a beneficiary who receives a bequest in kind like car, furniture,etc have to have the value of those specific bequests reduced to help the cash beneficiaries receive more? Thank you
Submitted: 1 year ago.
Category: Estate Law
Expert:  Marsha411JD replied 1 year ago.
Hello,

Thank you for your question. No, if there is a specific bequest of an item which is still in existence when the testator dies, then that item goes as directed in the will. Then once all the specific bequests of property have been given to the beneficiaries, then at that point any other property and cash available is used to give the remainder of the beneficiaries under the will.

Please let me know if you need any clarification. I would be glad to assist you further if I can.
Marsha411JD, Attorney
Category: Estate Law
Satisfied Customers: 17605
Experience: Licensed Attorney with 28 yrs. exp. with Estate Law issues
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Licensed Attorney with 28 yrs. exp. with Estate Law issues