Transcription of Explaining the Residue Function - LawyerDoneDeal
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Explaining the Residue Function - LawyerDoneDeal
Explaining the Residue Function About Typical Residue Provisions The Residue of the estate is everything that is left over in the estate after debts, taxes, funeral expenses and other testamentary expenses, as well as any specific bequests or legacies, are paid. When drafting a Will, the concern is always to ensure that circumstances will not result in a situation which will give rise to an intestacy (a failure of the Will to apply to the facts as they are at the time of the testator's death). For example, consider the following typical scenario: A and B are married and they have one child, C.
® WillPowerWeb is a registered trademark of LawyerDoneDeal Corp. 3 Explaining the Residue function October 2008 Tip: Before completing the information in these tabs ...
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