residuary estate

Definition of "residuary estate"
  1. The leftover property of a deceased person's estate after all specific bequests are distributed and all owed costs are paid, which may also include unfulfilled gifts due to a beneficiary's predeceasing
How to use "residuary estate" in a sentence
  1. The family house was not part of the residuary estate as it was a specific bequest.
  2. When Carl predeceased Connie, the VW bug ended up in the residuary estate.
  3. Because no alternate beneficiaries were named, the entire residuary estate was passed to Sara.

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