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Simple English definitions for legal terms
universal legatee
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A quick definition of universal legatee:
A universal legatee is someone who is named in a will to receive everything that is left over after specific gifts have been given to other people. This means they inherit the entire estate, including any property, money, or possessions that were not specifically given to someone else.
A more thorough explanation:
A universal legatee is a person who is designated to receive the entire residuary estate of a deceased person. This means that they inherit all of the remaining assets and property that were not specifically bequeathed to other individuals or organizations in the will.
For example, if a person's will states that their house should go to their sister, their car should go to their nephew, and their savings account should be split between their three children, the universal legatee would receive everything else that was not specifically mentioned in the will.
Another example would be if a person's will simply stated that their entire estate should go to their spouse. In this case, the spouse would be the universal legatee and would inherit everything.
Overall, a universal legatee is an important designation in a will as it ensures that all remaining assets are distributed to a specific individual or organization.