Residue, Residuary Beneficiaries, Residual Estate – The Jargon Explained
All these terms are referring to what is left in a deceased’s person’s estate after all the legacies of money or other items have been paid out and the costs of administering the estate have been cleared. This is the residue or residual estate and it is then paid out to the persons or others named in the will. These are the residuary beneficiaries.
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