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The answer depends on several factors and state laws vary.
The cash gift could be funded by other assets in the estate. If there is property in the residuary estate that could be sold, such as real estate, most jurisdictions would require it to be sold to pay the specific cash bequests. Specific bequests have priority. Some states require the bequests be prorated or reduced in proportion. The executor can request guidance from the court.
If there are no assets the estate can be deemed insolventby the court and the executor will not bear responsibility for not paying over bequests.
The answer depends on several factors and state laws vary.
The cash gift could be funded by other assets in the estate. If there is property in the residuary estate that could be sold, such as real estate, most jurisdictions would require it to be sold to pay the specific cash bequests. Specific bequests have priority. Some states require the bequests be prorated or reduced in proportion. The executor can request guidance from the court.
If there are no assets the estate can be deemed insolventby the court and the executor will not bear responsibility for not paying over bequests.
The answer depends on several factors and state laws vary.
The cash gift could be funded by other assets in the estate. If there is property in the residuary estate that could be sold, such as real estate, most jurisdictions would require it to be sold to pay the specific cash bequests. Specific bequests have priority. Some states require the bequests be prorated or reduced in proportion. The executor can request guidance from the court.
If there are no assets the estate can be deemed insolventby the court and the executor will not bear responsibility for not paying over bequests.
The answer depends on several factors and state laws vary.
The cash gift could be funded by other assets in the estate. If there is property in the residuary estate that could be sold, such as real estate, most jurisdictions would require it to be sold to pay the specific cash bequests. Specific bequests have priority. Some states require the bequests be prorated or reduced in proportion. The executor can request guidance from the court.
If there are no assets the estate can be deemed insolventby the court and the executor will not bear responsibility for not paying over bequests.
What else can I help you with?
What preposition follows insufficient?
Prepositions would include "for" or more rarely "in."NOTE THAT THE WORD "to" following insufficient is normally part of an infinitive verb, not a preposition. E.g. The supply was insufficient to meet the demand.
Can an executor of a will demand the beneficiary to fulfill what is on the will and testament?
The executor is responsible to the court to ensure that the will is properly executed. They can request the beneficiaries meet the requirements set in the will or without the bequest.
What does insolvency mean?
1 unable to meet debts; bankrupt 2 insufficient to meet all debts; as estate or fund
What happens when demand meets supply?
Transaction happens when supply and demand meet. Both sides (a seller and a buyer) meet their needs: a seller gets money for its products (now he can manufacture next products) and a buyer gets product he needed.
How do you use insufficient?
"Insufficient" is used to describe something that is not enough or inadequate to meet a certain requirement or need. For example, you might say, "The report was rejected due to insufficient evidence to support the claims." It emphasizes a lack of quantity, quality, or capability in a given context.
What does insufficient funds mean?
Insufficient funds refers to the state where there is no enough cash to meet the requirements. for example you need $1000 to pay for your car repairs but you have only $400 in your wallet. That could be termed a situation of insufficient funds or you gave a cheque of $1000 to somebody and you have only $500 in your account, that again would be a situation of insufficient funds.
What will happens when a stalagmite and a stalgcite meet?
They do meet and form a column
What will happen to the prices in the market if the supply and demand meet at the equilibrium?
Transaction happens when supply and demand meet. Both sides (a seller and a buyer) meet their needs: a seller gets money for its products (now he can manufacture next products) and a buyer gets product he needed.
What happens when two tangent segments meet at a point outside a circle?
Nothing "happens". They meet, and the rays continue merrily along their ways, never to meet again!
Do debit cards keep you from overdrawing your bank account?
Yes. Your card will not be accepted if there are insufficient funds in your account to meet the charge.
How much money is it to meet the president?
I don't think money is a factor. It is about who you are to the president and why the president should meet with you.
How do you know that Jacob made very little money as a roofer?
It can be inferred that Jacob made very little money as a roofer because he struggled to pay his bills and had to take on additional odd jobs to make ends meet. This indicates that his primary source of income from roofing was insufficient to cover his expenses.
