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LSDefine

Simple English definitions for legal terms

clear residue

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A quick definition of clear residue:

Clear residue refers to the money left over after a person's debts, expenses, and gifts have been paid from their estate. It is also known as true residue.

A more thorough explanation:

CLEAR RESIDUE

Clear residue refers to the remaining income after all the debts, expenses, and legacies of a deceased person have been paid off. It is also known as true residue.

For example, if a person's estate is worth $500,000 and their debts, expenses, and legacies amount to $300,000, then the clear residue would be $200,000.

Another example would be if a person's estate is worth $1,000,000 and their debts, expenses, and legacies amount to $1,200,000, then there would be no clear residue.

Clear residue is the amount of money left over after all the necessary expenses have been paid. It is important to determine the clear residue in order to distribute the remaining assets to the beneficiaries according to the deceased person's will or state law. The examples illustrate how the clear residue is calculated based on the value of the estate and the amount of debts, expenses, and legacies that need to be paid off.

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Dkk
19:42
SEO is big money
2016 pushed the conservative party into populism irreversibly
Dkk
19:43
Maybe, but if this is populism, then every election is populist.
19:43
@Dkk: yeah register 1 website and every swinging tom dick and harry calls/emails/texts to 'help with seo'. like bruh, if YOU found it, what i am doing is working
Dkk
19:43
Indeed!
19:48
wasp, i think people are hopeful for a gov who at least attempts to care about the common man
MIAMI A
[] AromaticTroubledDormouse
20:55
How does one know if they are UR1 or UR2?
[] AromaticTroubledDormouse
20:56
CONGRATS MACAQUE!
TY
got a random stanford email and almost had a heart attack
ALSO CONGRATS!
Congrats1!
21:15
Miami A, yall I'm so excited I could cry.
21:15
Feel like I can finally stop holding my breath!! Whew!!!
[] baddestbunny
22:16
every time I get accosted by a strange man who follows me around because my male coworkers were too busy talking to walk me back to my car I get closer to saying we need to bring back traditional gender roles
Dkk
22:32
Nice! @Macaque
Dkk
22:32
@Aromatic, Have to guess.
Dkk
22:33
That sucks @Bunny do you have to go to the hospital?
[] baddestbunny
22:40
I said accosted not assaulted
23:35
guys. my notre dame address just went long is this good or bad
1a2b3c4d26z
23:37
Oooooo me too
23:37
omg is this good or bad
Dkk
23:47
Idk if gender roles are gunna fix that then.
23:49
it looks like most people who applied in october last cycle didn't get a decision until january... does it even mean anything that our addresses went long??
hows ED 2 compared to ED 1?
Dkk
0:10
No idea
windyMagician
0:34
reporting live to say my ndls address also went long
does it mean anything ^
Dkk
2:21
NDLS and Fordham took a very long time last year. It's good info for people to know.
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