Residuary Clause


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Residuary Clause

A provision in a will that disposes of property not expressly disposed of by other provisions of the will.

References in periodicals archive ?
This form, which is in the record, did not have space to include a residuary clause or preprinted language that would allow a testator to elect to use such a clause," Pariente wrote.
5 of the particular revocable trust is the residuary clause, and provides as follows:
1) Some neglect to include an elastic residuary clause in their wills.
A residuary clause or other provision in the donee's will or revocable trust that does not manifest an intent by the donee to exercise a power of appointment shall not be deemed to manifest an intention to exercise any of the donee's power(s) of appointment.
Residuary clauses that are not part of a specific estate plan should only be used to catch any unknown or immaterial assets and prevent them from passing according to the laws of intestate succession.
If the testator included a residuary clause in the will, the residuary beneficiary receives all bequests that lapse, unless the will provides otherwise.
Because of the possibility of confusion and the unintended exercise of a power by the residuary clause in the will of a donee of a power which is exercisable by will, many draftsmen require that the power be exercised by "an instrument other than a will.
c) Pursuant to the residuary clause of the settlor's will if the trust for the animal was created in a pre-residuary clause in the settlor's will;
However, in this case the residuary clause and the clause that leaves Anna Nicole's entire estate to Daniel (to be held in trust) are one in the same.
An alternative would be to include a contingency or catch-all provision that applies to the extent property is not effectively disposed of by the residuary clause or the provisions of a testamentary trust, such as a provision for a distribution to the persons who would be the testator's heirs under the laws of intestacy, with certain modifications.
The court held that Florence had a transmissible future interest regarding half of her father's residuary estate, which passed under her residuary clause in trust for her husband.