residuary in a sentence
a.
📚 Grade Level: Grade 11, Grade 12
Definition
Residuary refers to the portion of an estate that remains after all debts, expenses, and specific bequests have been settled, typically designated to a particular beneficiary in a will.
Sample Sentences
- The will named her as the residuary legatee, ensuring she would inherit the remaining assets.
- In estate planning, a residuary clause is crucial for specifying who receives leftover property.
- After paying all debts and expenses, the residuary estate was divided among the heirs.
- She was surprised to find out she was the residuary beneficiary of her late uncle's trust.
- The attorney explained that the residuary interest could include both tangible and intangible assets.