What is the objective of the process of abatement? a. To give legal structure to the reductions

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What is the objective of the process of abatement?

  a. To give legal structure to the reductions that must be made if an estate has insufficient assets to satisfy all legacies.
  b. To ensure that all property distributions take place in a timely manner.
  c. To provide adequate compensation for the estate executor and any appraisers or other experts that must be hired.
  d. To ensure that all legacies are distributed to the appropriate party as specified by the decedent’s will or state laws.

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Advanced Accounting

ISBN: 978-1259444951

13th edition

Authors: Joe Ben Hoyle, Thomas Schaefer, Timothy Doupni

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