residuary bequest
The remainder of the testator’s estate after the payment of testamentary bequests , payments of debts , or discharge of other obligations of the estate. The recipient of the residuary bequest is the residuary beneficiary . For example, in Jureski v. Scaduto , a Florida Court of Appeals ruled that the testator’s residuary bequest to five individuals controlled, as opposed to a conflicting provision which bequeathed any property owned at the time of testator’s death to two individuals.
[Last reviewed in April of 2021 by the Wex Definitions Team ]
Wex
- PROPERTY
- trusts
- inheritances & estates
- wex definitions