Residuary Estate Clause Example
Description
How to fill out Testamentary Trust Of The Residue Of An Estate For The Benefit Of A Wife With The Trust To Continue For Benefit Of Children After The Death Of The Wife?
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FAQ
A residuary estate clause example typically outlines how the remaining assets of an estate should be distributed after specific bequests have been made. For instance, if a will states that a person leaves $10,000 to a friend and then specifies that the remainder of the estate should go to their children, the clause effectively directs the distribution of residual assets. This ensures that all assets are accounted for and prevents any ambiguity in the distribution process. Utilizing a platform like US Legal Forms can help you easily draft a clear residuary estate clause that aligns with your wishes.
A typical residuary clause says: I leave all the rest and residue of my property, both real and personal, of whatever nature and wherever situated, assets, including all real and personal property, tangible or intangible, to: _______________.
EXAMPLE: In her will, Sara, a widow, leaves many different items to many different beneficiaries: books to her daughter, jewelry to a friend, a car to her nephew and so on. She doesn't name alternate beneficiaries for these specific bequests, but she names her daughter as residuary beneficiary.
Also referred to as estate residue or residual estate, it simply means assets that are left over once your will has been read, assets have been distributed to your heirs and any final expenses have been paid. Proper estate planning can help you avoid leaving residual assets behind.
A typical residuary clause says: I leave all the rest and residue of my property, both real and personal, of whatever nature and wherever situated, assets, including all real and personal property, tangible or intangible, to: _______________.
For example, a testator could say: ?I give all of the residue of my estate to my wife if she survives me. If my wife does not survive me, I give all of the residue of my estate to my son.? The vast majority of a decedent's assets often pass ing to the terms of a residuary clause.