Residuary Clause
A residuary clause, is a section in your will that sets out how property not specifically dealt with in the will should be distributed. You may leave a part of your estate to someone, but that gift (sometimes called a bequest) could later found to be invalid. When this happens, that part of your estate becomes part of the residue of your estate, along with other things that are not specifically mentioned in the will. [1]
- The Residuary Clause deals with the remainder of your estate after all specific gifts have been made and all claims of the estate are satisfied.
- The Residuary Clause handles gifts that are void due to the death of the beneficiary.
- The Residuary Clause handles property that may have been overlooked or not otherwise disposed of in the Will.
- The Residuary Clause also covers property that is acquired after the Will was written, and which was not specifically mentioned within the Will.
If you have a spouse or civil partner and they have never renounced or given up their rights to your estate, then they are entitled to a legal right share of your estate. For more information, see here.
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