Graham's will leaves $100,000 to his two children,Harry and Ida. When Graham dies,he only has $80,000 to honor his bequests. Harry and Ida each receive $40,000. This is

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An abatement occurs when there is not enough money or assets to fully honor all bequests made in a will. In this scenario, Graham's estate did not have enough funds to give each child their full bequest of $50,000, so the bequests were reduced proportionally, resulting in each child receiving $40,000. This is an example of abatement.

Graham's Will Leaves $100,000 to His Two Children,Harry and Ida