I have an Estate where there is three beneficiaries A, B and C one property is specifically left to A and the property has been transferred to A
There is also another property that has been specifically left to B and C in unequal shares and has been transferred to them.
A, B and C are the residuary beneficiaries in equal shares.
The cash values of each share of the properties are different.
There is no money in the estate to pay the liabilities.
There is the usual clause in the Will that states the Testamentary expenses are to be paid out of the residue.
Who pays the liabilities and how is it worked out? The percentage of the value of the estate of which they received a value in a property or just one third each as they are the residuary beneficiaries in equal shares?
Graham and Rosen