My parents will calls for sizable contribution from estate to a charitable organization. As the estate turns out to be worth considerably less than they thought, is the executor bound to make the stated gift?
2 Answers from Attorneys
Depends on the actual language of the document.
Did they retain an attorney to draft it or do it themselves????
If there is no money in the estate then no. If there is some money to pay some of the beneficiaries, then gifts are adeemed in a specific order (first the residue, then general devises then specific devises).
This is going to be complicated. The personal representative of the estate needs to consult with a probate attorney in the county/state where the estate is probated. If an attorney has not been retained to administer the estate then it would be wise to do this now to ensure that the estate assets are distributed correctly.