If general devises total $1,000,000 and assets are $800,000, what percentage will each general devise receive?

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Multiple Choice

If general devises total $1,000,000 and assets are $800,000, what percentage will each general devise receive?

Explanation:
General devises are payable from the estate’s general assets, and when those assets aren’t enough to cover all general bequests in full, the gifts are reduced proportionally (abated) so the total paid equals the available assets. Here, the total general devises amount to 1,000,000, but there are only 800,000 in assets. The payout proportion is 800,000 divided by 1,000,000, which is 0.80, or 80%. So each general devise recipient gets 80% of the amount named. If assets were sufficient, each would receive 100%, but with the shortfall, everyone receives the same 80% reduction.

General devises are payable from the estate’s general assets, and when those assets aren’t enough to cover all general bequests in full, the gifts are reduced proportionally (abated) so the total paid equals the available assets. Here, the total general devises amount to 1,000,000, but there are only 800,000 in assets. The payout proportion is 800,000 divided by 1,000,000, which is 0.80, or 80%. So each general devise recipient gets 80% of the amount named. If assets were sufficient, each would receive 100%, but with the shortfall, everyone receives the same 80% reduction.

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