Distribution of his net estate to his five children

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Gord's will provided for the distribution of his net estate to his five children in equal shares. At the time of Gord's death, his youngest son, age 23, was beginning medical school and needed immediate access to $50,000. The two eldest children, Ted and Todd, were executors and decided that in order to be fair they would immediately distribute $50,000 to each of the five children. After making this $250,000 distribution, Ted and Todd realized that the estate was short $30,000 in order to pay taxes owing. Given this shortfall, which of the following statements is true?

Reference no: EM133305441

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