If the reasoning of Williams applies, the logical conclusion is that the estate taxes in excess of the
residuary estate would be apportioned among the probate and nonprobate assets.
EXHIBIT THE EFFECT OF APPORTIONMENT ON TAXES PAID
Residuary estate pays entire estate tax
Residuary IRD estate beneficiary IRD account $1,000,000 Other assets net of liabilities $1,000,000 Estate tax $435,000 Net to beneficiary $565,000 $1,000,000 Beneficiary pays estate tax allocated to IRA
Residuary IRD estate beneficiary IRD account $1,000,000 Other assets net of liabilities $1,000,000 Estate tax $217,500 $217,500 Net to beneficiary $782,500 $782,500
Daughter as the
residuary beneficiary) be responsible for the property tax bill?
For example, if the decedent had wanted to provide for his sister if she left the order, the will could have stated: "In the event that my sister is no longer subject to a vow of poverty at my death, I give her my
residuary estate.
Thus, if there is no available unified credit at the decedent's death and the
residuary estate passes to or for the benefit of a surviving spouse, all administration expenses must be taken on the 706 even though there is no tax benefit.
Given the administrative expenses and the taxes and the consequences of the choices of the children, there will not be a
residuary to create the C&J Foundation,'' said Jennifer Farina, a spokesman for Attorney General Dennis Vacco.
If the remainderman has no surviving descendants, the remainder fails, and on the life tenant's death the property passes to the testator's
residuary devisees or to the settlor's heirs.
Chandrashekhar Rao was hesitant to occupy the massive CM's camp office at Begumpet believing that it was inauspicious and not in accordance with Vstu Shastra, Chief Minister-designate of
residuary state of Andhra Pradesh N.
He has further said that Andhra Bank will also open a local headquarters in the
residuary state of Andhra Pradesh in case it becomes necessary.
Article 324 of the Constitution is a reservoir of
residuary jurisdiction.
Jaganmohan Reddy in
residuary Andhra Pradesh, has made emergency calls to BJP leaders to salvage the alliance before it spins out of control.
