Sec. 3. Nonprobate transferees are liable for the insufficiency described in section 2 of this chapter in the following order:
(1) As provided in the deceased transferor's will or other governing instrument.
(2) To the extent of the value of the nonprobate transfer received or controlled by the trustee of trusts that can be amended, modified, or revoked by the decedent during the deceased transferor's lifetime. If there is more than one (1) such trust, in proportion to the relative value of the trusts.
(3) Other nonprobate transferees in proportion to the values received.