Also known as: residuary estates · residue
Written by attorneys · grounded in primary & secondary sources — see below
The portion of a testator's estate remaining after satisfaction of debts, administration expenses, and all specific devises. It passes to the beneficiaries named in the residuary clause of the will.
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Roberto Reyes's will leaves his Van Gogh painting to his cook Riley Rivera and his residuary estate to his siblings Rachel Ramirez and Ricardo Rojas in equal shares. Riley predeceases Roberto. The painting passes as part of the residuary estate to Rachel and Ricardo.
Ralph Richardson's will directs that all taxes be paid from the residuary estate bequeathed to his descendants. After his death the executors pay state inheritance taxes from that residue. The court treats the residue as the fund available for those payments.
Reliance Insurance holds a trust interest that forms part of Regina Robinson's residuary estate. Federal tax authorities must apply state law to decide the size of that residue before calculating the marital deduction.
Ralph Richardson's will leaves his residuary estate to his executor with instructions to raze a historic building. The court refuses to enforce the direction and the residue instead passes by intestacy.
Charlotte Mahoney is convicted of manslaughter of her husband Howard. Howard's residuary estate would otherwise have passed to her, but the court decrees that the residue goes to Howard's parents instead.
Rachel Ramirez's will leaves her residuary estate to her executors to distribute as they deem advisable. The court holds the gift void for lack of definite beneficiaries and the residue passes by intestacy.
Under UPC § 2-604(a) a specific devise that fails for any reason becomes part of the residuary estate unless a substitute gift applies under § 2-603.
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UPC § 2-604(b) provides that the lapsed share passes proportionately to the surviving residuary devisees.
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A general residuary clause does not by itself manifest an intent to exercise a power of appointment.
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…under a stipulation to re-land the cargo in some port of the United States, the re-landing having been made with respect to the residue of the cargo, and the pine timber having been floated into shallow water, where it was secured and in the custody of the owner of the ship, an American citizen, the Court cannot perceive…