What does abatement mean?

Abatement is the process of reducing gifts in a will when the estate doesn't have enough to cover everything, usually because debts and expenses eat into the assets. There's a set order for which gifts get trimmed first, typically starting with the residuary estate before specific bequests are touched. It ensures debts get paid while distributing the shortfall fairly. Knowing the order helps you understand who might receive less than the will promised.