residuary


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Related to residuary: Residuary legatee

residuary

adjective excess, excessive, left over, remaining, residual, resultant, spare, surplus
Associated concepts: residuary bequest, residuary clause, residuary devise, residuary estate, residuary fund, residuary interest, residuary legacy, residuary legatee
See also: alluvion, net, residual, superfluous

LEGACY, RESIDUARY. That which is of the remainder of an estate after the payment of all the debts and other legacies. Madd. Ch. P. 284.

References in periodicals archive ?
In a basic example concerning retirement accounts, if a child's residuary trust is the designated beneficiary of a decedent's retirement plan, the child has the right to stretch the minimum required distributions from the IRA over his or her life expectancy.
So as to consolidate and combine the residuary share with such child's share of the insurance proceeds, the preamble to Article 4 should recite language similar to the following: "All shares or portions for a particular descendant of the Settlor (the Primary Beneficiary) directed to be disposed of as provided in this Article 4, whether under this Declaration or other than under this Declaration, shall be combined and held by the Trustees in a single separate trust as follows.
It read: "Having already transferred money to my son David Bird absolutely I direct that my son shall bring into the hotchpotch upon the division of my residuary estate the sum of pounds 25,000.
Cancer The amendment said: "Having already transferred money to my son David Bird absolutely I direct that my son shall bring into the hotchpotch upon the division of my residuary estate the sum of pounds 25,000.
The balance of the estate passes to a residuary QTIP trust, allowing the executor to make a QTIP election to zero out federal estate taxes (a disclaimer of property may also suffice)22 and an Illinois QTIP election over the $1.
From April 1986 until September 1987, the Fund was administered by the transitional Merseyside Residuary Body.
If purchasing an immediate annuity is going to be your recommendation, try to always include a refund or guaranteed period to help assure a residuary payment will be made to the client's heirs if he or she should die before all or a substantial portion of the annuity's purchase price has been recovered.
Thereafter, when the attorney for the sole residuary beneficiary called Attorney Clifford, he answered the telephone simply saying "woof".
The representative testified that she went to the decedent's room and took handwritten notes of the decedent's statements about the change in beneficiaries and that the decedent wanted to leave a bequest to her physician's grandson, and her residuary estate to the State of Israel, to be used for social service programs.
If there are 15 beneficiaries getting fixed lump sum legacies and a residuary beneficiary getting everything else, is it necessary for all the 15 beneficiaries to be contacted for examination and approval of the estate accounts?
The Prime Minister has promised to investigate the role of the British Rail residuary board - which sells off ex-BR land - in a "log-jam" over the development of a 20-acre derelict site between Gateshead town centre and the Felling bypass.
He thinks the Church can survive only if it breaks down into networks of like-minded gatherings, each with their own structures, leaving at the centre a Church Residuary Body to manage the real estate and the investments.