Warning

Info

Warning

Info

Warning

Info

LSDefine

Simple English definitions for legal terms

Residuary bequest

Read a random definition: deposit insurance

A quick definition of Residuary bequest:

A residuary bequest is what's left of someone's money and things after they've given away some of it and paid off any debts they owed. The person who gets the residuary bequest is called the residuary beneficiary. For example, if someone left their house to their friend and some money to their family, whatever was left over would be the residuary bequest and would go to whoever they named as the residuary beneficiary.

A more thorough explanation:

A residuary bequest is the part of a person's estate that remains after all debts, taxes, and specific bequests have been paid. The person who receives the residuary bequest is called the residuary beneficiary.

For example, if a person's will states that they want to leave $10,000 to their sister and $5,000 to their best friend, those are specific bequests. If the person's estate is worth $50,000, and the debts and taxes add up to $20,000, then the residuary bequest would be $25,000. The person's will would state who should receive that $25,000.

In the case of Jureski v. Scaduto, a Florida court had to decide between conflicting provisions in a person's will. One provision stated that any property owned at the time of the person's death should go to two individuals. Another provision stated that five individuals should receive the residuary bequest. The court ruled that the residuary bequest controlled, meaning that the five individuals would receive the remaining assets of the estate after all debts and specific bequests had been paid.

Residuary beneficiary | Residuary Estate

Warning

Info

General

General chat about the legal profession.
main_chatroom
👍 Chat vibe: 0 👎
Help us make LSD better!
Tell us what's important to you
medicine is a scam
join the ethically ambiguous legal field instead
Dkk
18:57
I want to meet an attorney that defends clients who run into flat earth problems. I want an attorney that knows and believes in flat earth theory.
19:05
i want a flat earther for president. i want a guy who posts on 4chan for president. i want someone who mogs for president.
Dkk
19:18
Exactly. My version of that awful poem.
Dkk
19:19
I can accept a president with maybe one or two of the poems traits hut good God, all of them??? No ty.
windyMagician
19:20
president who respects sex is crazy
windyMagician
19:20
we had bill clinton already
Dkk
19:21
Bill Clinton, first and last black president
windyMagician
19:23
I want to go running but my leg feels weird
windyMagician
19:23
it doesn't hurt its just tingly
Dkk
19:26
It needs more alcohol. You tingle when your nerves need watering.
19:27
try stretching it maybe to see what's up
windyMagician
19:27
stretches make me think it's just soreness
windyMagician
19:27
I'm sober lol
Dkk
19:38
Anyone else get the google notification that your LSD password has been compromised lol. LSD got hacked.
20:48
what.jpg @Dkk
CynicalOops
21:03
You think you just fell out of a coconut tree?
jackfrost11770
21:10
nope dk
CynicalOops
22:37
Calvinamala Harris
jackfrost11770
23:16
should i start using letterboxed again
Dkk
23:25
@jackfrost11770: if you want but like it aint for me
dk do u ever eat at bk
Dkk
23:48
@chickenburgahfart: I would do that in the Army if really desperate for food or if I had to work through lunch. One of the few fast food places I go to.
bk so slept on
Dkk
0:23
I will take In N Out everyday over it when I can though.
texaslawhopefully
1:22
In N Out is not only the best fast food place, but the prices too are fantastic
Dkk
1:27
Indeed, indeed.
LSD+ is ad-free, with DMs, discounts, case briefs & more.