Abatement of Bequest

Definition - What does Abatement of Bequest mean?

Abatement of bequest refers to the process through which the property and other assets, left by the testator at the time of death, have been distributed among the beneficiaries named by the deceased in the will.

Justipedia explains Abatement of Bequest

This is mainly done when it seems that the value of such assets are not enough to pay the debts of testator, the expenses incurred in managing the estate of the deceased, and/or the expenses incurred of the devices and legacies called by the will.

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