Residue/residuary estate

What is left of an estate after paying out expenses and other gifts and specific legacies.

After dealing with specific gifts and legacies the Will often contains a residuary gift.  This residue can amount to a significant part of the overall estate.  In many cases the residue is left to the surviving spouse.

For instance, in the case of a married couple, an example of a residuary gift may be the marital home which would be left to the surviving spouse.

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