Wills / Trusts Law
Residuary Legatee
The beneficiary in a will entitled to whatever remains of the estate after specific bequests and debts have been paid out.
A residuary clause is important in a well-drafted will to ensure no part of the estate is left undistributed or falls into intestacy simply because it wasn't specifically mentioned elsewhere in the document.
Without a clear residuary clause, any asset not specifically addressed in the will may end up being distributed according to the default rules of intestate succession instead.
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