The assets in Hong's estate,including the value of his home on Elm Street and its contents,are insufficient to pay in full all of the gifts provided for in his will.His heirs will receive

Question

Quizplus · Accepted Answer

Hong's heirs will receive reduced benefits because the assets in his estate are insufficient to pay in full all of the gifts provided for in his will. This means that the gifts will have to be prioritized, and some heirs may receive a lesser amount than what was originally stated in the will. The other options are not applicable because Hong's heirs will still receive something, and the assets will not descend to the state. The option of distributing the assets according to their wishes may not be possible if the assets are insufficient to cover all the gifts in the will.

The Assets in Hong's Estate,including the Value of His Home