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 ?
Bromley argued that the sculpture had passed to Bromley as successor to the London Residuary Body.
5 of the particular revocable trust is the residuary clause, and provides as follows:
Incompleteness may not appear on the face of the wills preserved in the probate records in those instances where residuary, clauses are void (rather than absent).
5 million), leaving the balance to a residuary marital trust.
His will said all estate, inheritance, and other death taxes imposed by reason of death "would be paid, without apportionment, by his residuary estate," said Sharp.
The Prime Minister has promised to investigate the role of the British Rail residuary board - which sells off ex-BR land - in a "log-jam" over the development of a 20-acre derelict site between Gateshead town centre and the Felling bypass.
He thinks the Church can survive only if it breaks down into networks of like-minded gatherings, each with their own structures, leaving at the centre a Church Residuary Body to manage the real estate and the investments.
I direct that all inheritance, estate, transfer, succession, legacy and other death taxes upon property required to be included in my taxable estate whether or not passing under this Will [except (1) transfer taxes levied pursuant to the provisions of Chapter 13 of the Internal Revenue Code of 1986, relating to "generation-skipping transfers," or any similar state law, and (2) taxes on property held in trust under the Will (or any revocable trust) of my spouse], and any interest and penalties thereon, shall be charged against and paid from my residuary estate passing under Article FOURTH of Part I of this my Will.
Items to consider include the outside income and assets of the income beneficiary, the ages and needs of the residuary beneficiaries, the nature of the anticipated trust assets, and the resulting accounting and tax issues.
Laski, after all, knew better--in The American Presidency (1940), he noted that "there was no residuary feudalism" in the United States, and that most American workers of the 19th century "enjoyed conditions far higher than anything the European peasant or industrial worker has ever known.
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.
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.