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 London Residuary Body had no part in these arrangements, but it did not object to them.
The residuary legatee must report amounts subsequently collected as IRD when collected.
The will did not have a residuary clause or any general devises which could be interpreted as disposing of any of the inherited property.
The effect of this designation is that under the revocable trust, the share of the balance of the trust assets (after the payment of all of the decedent's debts, expenses, and taxes) for a particular child (residuary share) is disposed of and held in further trust under Article 4.
(1) Some neglect to include an elastic residuary clause in their wills.
The bankruptcy culminated in sale of RUSIA's assets to Gazprom for $747m and payment of RUSIA's $403m debt to TNK-BP, so we assume that OGK-3's pro rata stake in the residuary sum ($86m) will be reflected on the generator's balance sheet.
She is also entitled to her husband's pounds 28,000 "residuary estate".
The deal was brokered by Sanderson Weatherall LLP who acted on behalf of owners, BRB (Residuary) (the residuary body of the British Railways Board) and agent DTZ, which acted on behalf of the Government department.
Already the preparations have exhibited the worst symptoms of major British projects, including massive budget overruns for self-delusionary infrastructure based on airyfairy predictions of residuary benefits for whatever residents are left in this part of London.
(PGFI) - the largest Residuary Non-Banking Company in the country.
It read: "Having already transferred money to my son David Bird absolutely I direct that my son shall bring into the hotchpotch upon the division of my residuary estate the sum of pounds 25,000."
Wills that transfer assets by outright bequests of named assets (e.g., cash or real estate), residuary bequests of property remaining after payment of debts, estate costs, devises, bequests, and legacies, and contingent bequests (e.g., "I direct payment of $100,000 to XYZ Charity provided my spouse dies before me").