What is the meaning of abatement in the context of a will?

In the context of a will, abatement refers specifically to the situation where the value of a deceased person's assets is insufficient to fulfill all of the bequests outlined in their will. When a testator (the person who has written the will) passes away and their estate does not have enough assets to satisfy all specified legacies, some legacies may need to be reduced or eliminated altogether, to ensure that debts and expenses are paid first. This reduction affects the gifts to beneficiaries, which is why option B is the correct answer.

Understanding abatement is essential within estate planning, as it's a mechanism designed to ensure that the estate can be settled fairly and in accordance with the law. The other options address different legal concepts that do not relate directly to the specific reduction of legacies due to insufficient assets.