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LSDefine

Simple English definitions for legal terms

residuary legacy

Read a random definition: paper hanger

A quick definition of residuary legacy:

A residuary legacy is a gift that is left in a will after all other gifts have been given out. It is usually given as a percentage of the remaining estate or as specific items that were not mentioned in the will. This type of legacy is important because it ensures that any leftover assets are distributed according to the wishes of the deceased.

A more thorough explanation:

A residuary legacy is a type of gift given in a will, usually of personal property or money, that is left over after all other specific gifts have been distributed. It is the remainder of the estate that is left to a particular person or organization.

For example, a person may leave specific gifts to their children and grandchildren, but then leave the rest of their estate as a residuary legacy to a charity. This means that the charity will receive whatever is left over after all the specific gifts have been distributed.

Another example is if a person leaves a specific gift to their friend, but that friend passes away before the will is executed. The gift then becomes part of the residuary legacy and is distributed according to the terms of the will.

residuary devisee | residuary legatee

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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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