residuary


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Related to residuary: Residuary legatee

residuary

Everything not specifically mentioned in a will.After all named and described gifts have been made, whatever is left is in the residuary. If the will makes no provision for the residuary, that portion of the estate will pass by intestate succession.

References in periodicals archive ?
The residuary legatee must report amounts subsequently collected as IRD when collected.
5 of the particular revocable trust is the residuary clause, and provides as follows:
5 million), leaving the balance to a residuary marital trust.
The completion of the acquisition of the site is being held up by the British Rail residuary board on the rather curious premise that the council has depressed the valuation of the site by planning affordable housing," said the Labour MP.
A law may be upheld as being with respect to a subject matter of s51 even though it also concerns matters falling within State residuary power.
The following 19 subtrusts are now the record and beneficial owners of those respective shares: Philip Chandler Residuary Trust No.
Plaintiff alleges defendant, who is his brother, interfered with relationship between plaintiff and their mother, and alleges this resulted in her amending her revocable trust to remove plaintiff as a residuary beneficiary under the trust.
26) William was to be an executor of Captain Johnson's will and was also residuary legatee and sole executor of Mrs Paterson in 1839.
In January of 1989, she amended her trust to indicate her change in residence to Wisconsin; changed the co-trustee and named a successor trustee to M & I; First National Bank, West Bend, Wisconsin; added a number of specific bequests; and changed the description of the residuary gift to include the name of her husband's first wife.
These were the resources on which he drew for all his other bequests, both for the residuary legatees and for other named beneficiaries, to whom he allocated specific quantities of plate totalling some 4600 ounces.
The cash would form part of the residuary estate and pass to those who would have received the estate after the payments of specific bequests.
Under the accord, METI is considering making JNOC virtually a residuary company in March 2004, giving up its initial plan to let a successor company take over JNOC operations on that date.