Residuary bequest

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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 updated in April of 2021 by the Wex Definitions Team]