residuary beneficiary
A person who receives any property by a will or trust that is not specifically left to another designated beneficiary. For example, if Antonio makes a will leaving his home to Edwina and the remainder of his property to Elmo, then Elmo is the residuary beneficiary.
Category: Wills, Trusts & Estates → Living Trusts & Avoiding Probate
Category: Wills, Trusts & Estates → Wills

Nolo’s Plain-English Law Dictionary. . 2009.

Look at other dictionaries:

  • Residuary estate — A residuary estate, in the law of wills, is any portion of the testator s estate that is not specifically devised to someone in the will, or any property that is part of such a specific devise that fails. It is also known as a residual estate or… …   Wikipedia

  • residuary clause — A clause in a will which purports to dispose of that part of the estate which is left after other legacies and devises have been paid and all legal claims against the estate discharged. 57 Am J1st Wills § 1415. The term seems to contemplate the… …   Ballentine's law dictionary

  • residuary estate — noun Any portion of the testators estate that is not specifically devised to someone in the will, or any property that is part of such a specific devise that fails (for example, due to the death of the intended beneficiary preceding that of the… …   Wiktionary

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  • Lapse and anti-lapse — are complementary concepts under the law of wills, which address the disposition of property that is willed to someone who dies before the testator (the writer of the will).LapseLapse is a common law rule that if the person to whom property is… …   Wikipedia

  • legacy — leg·a·cy / le gə sē/ n pl cies [Medieval Latin legatio, from Latin legare to bequeath]: a gift of property by will; specif: a gift of personal property by will: bequest see also ademption compare devise conjoint leg …   Law dictionary

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  • per stirpes — per stir·pes /pər stər pēz, per stir pās/ adv or adj [Latin, by familial stocks]: by right of representation the estate was divided per stirpes used of a method of distributing an esp. intestate estate compare per capita ◇ Per stirpes… …   Law dictionary

  • trust — n 1 a: a fiduciary relationship in which one party holds legal title to another s property for the benefit of a party who holds equitable title to the property b: an entity resulting from the establishment of such a relationship see also… …   Law dictionary

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