I have a Will where the Residuary estate is set to pay all “debts funeral and testamentary expenses and the legacies and annuities by this will”
The Residue is then left to the testator’s husband who predeceased her and in the event of his death, the residue is divided with the property being left to her two daughters and the remainder of her residuary estate to the grandchildren.
Is it correct that all expenses will go to reduce the residuary gift to the grandchildren before reducing the value of the property gift, even the expenses relating to the property?
Paul Mounce
Graham & Rosen