Residuary estate

All you want to know about Residuary estate


Wills, trusts and estates

Part of the common law series
Wills
Wills (legal history) Joint wills and mutual wills Will contract · Codicil Holographic will · Oral will
Sections Attestation clause Residuary clause Incorporation by reference
Contest Testamentary capacity Undue influence Insane delusion · Fraud
Property disposition Lapse and anti-lapse Ademption · Abatement Acts of independent significance Elective share · Pretermitted heir
Trusts
Express · Constructive · Resulting
Common types Bare · Discretionary Accumulation and Maintenance Interest in possession Charitable · Purpose · Incentive
Other types Protective · Spendthrift Life insurance · Remainder Life interest · Reversionary interest Honorary · Asset-protection Special needs (Supplemental Needs)
Governing doctrines Pour-over will · Cy-près doctrine
Estate administration
Intestacy · Testator · Probate Power of appointment Simultaneous death · Slayer rule Disclaimer of interest
Related topics
Living will (advance directives) Totten trust
Other common law areas
Contract · Tort · Property Criminal law · Evidence
v • d • e

A residuary estate, in the law of wills, is any portion of the testator's estate that is not specifically devised to someone in the will, or any property that is part of such a specific devise that fails. It is also known as a residual estate or simply residue. The will may identify the taker of the residuary estate through a residuary clause or residuary bequest. The person identified in such a clause is called the residuary taker, residuary beneficiary, or residuary legatee. If no such clause is present, however, the residuary estate will pass to the testator's heirs by intestacy.

At common law, if the residuary estate was divided between two or more beneficiaries, and one of those beneficiaries was unable to take, the share that would have gone to that beneficiary would instead pass by intestacy, under the doctrine that there was no residuary of a residuary. The modern rule, however, is that the failure of a residuary gift to one beneficiary causes that beneficiary's share to be divided among the remaining residuary takers.

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