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Topic: Residuary clause

	Residuary estate - Wikipedia, the free encyclopedia
		A residuary estate, in the law of wills, is any portion of the testator's estate that is not specifically devised to someone in the will, or any property that is part of such a specific devise that fails.
		At common law, if the residuary estate was divided between two or more beneficiaries, and one of those beneficiaries was unable to take, the share that would have gone to that beneficiary would instead pass by intestacy, under the doctrine that there was no residuary of a residuary.
		The modern rule, however, is that the failure of a residuary gift to one beneficiary causes that beneficiary's share to be divided among the remaining residuary takers.
	en.wikipedia.org /wiki/Residuary_clause (205 words)

	McCarthy Fingar LLP
		The direction cannot be read as a mandate that the portion of the tax attributable to the residuary assets is not to be apportioned in an [176] equitable manner among the recipients of such residuary* gifts (Matter of Coulter, 11 Misc 2d, supra, pp.
		Since [she] did not expressly make a direction against apportionment within the residuary [she] must be presumed to have intended 'gross equality' or equality prior to taxes, rather than 'net equality' or equality after tax [147] [*9] impact (Jerome v.
		A tax exoneration clause is not unusual but the tax consequences could be disastrous and contrary to the intent of a testator unless properly explained.
	www.mfdds.com /1_casestreng7.html (784 words)

	View Archive Newsletter
		Grandson essentially argued that the anti-lapse statute should be applied in the first instance to the specific devises and thus preempt the subsequent provisions in the residuary clause, which were characterized as "boiler plate".
		On appeal, the court found that the language used in the residuary clause "including all lapsed legacies and devises" was unambiguous and established the decedent's intent that any gift which had failed under the prior specific articles would pass under the residuary clause.
		Since the language used in the residuary clause was clear the court did not allow for further analysis of the testatrix's intent.
	www.invtitle.com /phpscripts/newsletters/view_archived_copy.php?site=nc&id=46 (401 words)

	Attestation clause - Wikipedia, the free encyclopedia
		Attestation clauses were introduced into probate law with the promulgation of the first version of the Model Probate Code in the 1940s.
		The validity and form of an attestation clause is usually a matter of U.S. state law, and will vary from state to state.
		Many states allow attestation clauses to be added as codicils to wills that were originally drafted without them.
	en.wikipedia.org /wiki/Attestation_clause (469 words)

	Income tax consequences of an inheritance. (Estates & Trusts)
		Caution should be exerted in the use of residuary clauses so as to minimize the possibility of passing on unnecessary liquidity problems to beneficiaries.
		The residuary clause in the will provides that all debts and administration expenses are to be paid from the residuary estate with the remainder passing to her sister Kathleen.
		Residuary clauses that are not part of a specific estate plan should only be used to catch any unknown or immaterial assets and prevent them from passing according to the laws of intestate succession.
	www.luca.com /cpajournal/old/13027395.htm (1259 words)

	Residuary Powers - Studies on the Canadian Constitution and Canadian Federalism - Quebec History (Site not responding. Last check: 2007-11-01)
		Residuary powers would assure, in the future, the continued strength of the Dominion government.
		However, matters are not as simple as they first appear: the provincial list contained two clauses which were not easily defined unless reference was made to the 29 categories of s.
		The validity of this position which evolved from decisions of the Judicial Committee is much debated but remains largely academic as long as the critics of the J.C.P.C. do not present a cogent list of powers which would have been wrongly allocated by using this method of interpretation.
	www2.marianopolis.edu /quebechistory/federal/residual.htm (377 words)

	OSCN Found Document:SPURGEON v. COATE (Site not responding. Last check: 2007-11-01)
		In order to avoid partial intestacy, a general residuary clause will be construed to pass all of testator's estate which is not otherwise disposed of in his will, and such a clause will, as a general rule, be held to embrace property in which testator has only an equitable interest in expectancy.
		One of the purposes of a residuary clause in a will is to dispose of property that a testator may have overlooked or forgotten or which was unknown to him.
		A residuary clause passes all of testator's property; and all of his interests in property, not otherwise disposed of effectively, and not excepted from the operation of such clause, pass.
	www.oscn.net /applications/oscn/deliverdocument.asp?citeid=31099 (1377 words)

	No. 93-2508
		Article IV of the will directed that 10% of the residuary estate, or $100,000, whichever is less, was to be placed in a trust for the benefit of her niece, Ms.
		The Trust argued that the tax clause in Dorothy Cooney's will clearly and unambiguously directed the payment of all estate taxes payable by reason of her death, and directed the personal representative to waive the Estate's right of reimbursement for such taxes attributable to assets of the trust.
		Because it is generally the decedent's nearest relatives who are the residuary legatees, it is they who bear the burden of the tax and thus suffer a hardship not necessarily intended or anticipated by the decedent.
	www.wisbar.org /res/sup/1995/93-2508.html (6281 words)

	ca05-130
		The majority goes on to state that the clause in question "remaining monetary assets" does not contain the "necessary language of specificity" for it to be a specific devise.
		The majority further states that the clause is residuary because it is at the end of the will, yet it cites no law to support the proposition that the final devise must be residuary.
		While I agree that many residuary clauses tend to appear at the end of wills, it is by no means presumed that a final devise of a will must be residuary.
	courts.state.ar.us /opinions/2005b/20051116/ca05-130.html (2263 words)

	revrul88-12
		For purposes of computing the marital deduction for residents of South Carolina dying after 1978, the surviving spouse's share of the residuary interest is reduced by the expenses and debts allocated by South Carolina law to such shares but is not reduced by state and federal death taxes.
		The amount charged against the spouse's share is the proportion that the value of the intestate share or the testate share of the residuary estate passing to a surviving spouse bears to the value of the total intestate estate or total residuary estate before reduction for debts and expenses.
		The revenue ruling concludes that, under South Carolina law applicable prior to 1979, the surviving spouse's share of the residue was not chargeable with any estate debts and expenses, to the extent the spouse's interest qualified for the marital deduction under state and federal law.
	www.taxlinks.com /rulings/1988/revrul88-12.htm (845 words)

	Legal articles - Why you need a will and how to draft one
		The residuary clause provides for the distribution of the remainder of an estate after all the other specific and cash bequests have been made.
		The residuary bequest can be made to a single beneficiary, either outright or in trust, to two or more beneficiaries in stated proportions, or to a class of beneficiaries such as "children." The residuary clause can function as a blanket contingency clause in case any bequest or contingent bequest is successfully challenged.
		A residuary clause is a good way to avoid the undesirable prospect of estate assets falling into state government coffers.
	www.legal-forms-kit.com /legal-articles/need-draft-will.html (1404 words)

	Lapse and anti-lapse - Wikipedia, the free encyclopedia
		Lapse is a common-law rule that if the person to whom property is left (called the beneficiary or devisee) were to die before the testator, then the gift would be ineffective.
		If the deceased beneficiary was intended to inherit part of all of the residuary estate, then that portion of the estate would pass by intestate succession, as though the testator had left no will.
		This was called the "no residue of a residue" rule, because the portion of the residuary estate that did not itself pass under the will could not be considered part of the residuary estate at all.
	en.wikipedia.org /wiki/Lapse_and_anti-lapse (323 words)

	Title News
		Consequently, Orans asserted that, because the residuary estate had not been properly disposed of in the will, it should be distributed by intestate succession to the testatrix's next of kin, 6 first cousins with whom the testatrix, Sally Bieley, had virtually no contact.
		Both the Surrogate Court and the Appellate Division found that the testamentary trust established under the residuary clause adequately provided for the distribution of the principal of that trust to Ms.
		Essentially, he argues that the testatrix intended to reserve to herself an alternate disposition of the residuary estate in the event her mother predeceased her.
	www.monroetitle.com /title_news.asp?feed=feb99 (960 words)

	Estate of Webster (1943) 59 CA2d 1
		At the first trial the jury found that the residuary clause in the will and the codicil were both made under undue influence and the judgment denied their probate.
		It has been adjudged that this clause was executed under undue influence and is inoperative so there is no general residuary clause in the portions of that will admitted to probate as a codicil to the earlier will.
		The revocatory clause revoked the prior will which had specifically bequeathed part of this personal property to others, so, at that time, the effect of the undue influence was to enrich unduly Crane by revoking a will containing specific bequests, so that the residue he would take under the residuary clause would be materially increased.
	online.ceb.com /calcases/CA2/59CA2d1.htm (1832 words)

	Hanson v. Denckla, 357 US 235
		One group of claimants, 'legatees,' urge that this property passed under the residuary clause of the settlor's will, which was admitted to probate in Florida.
		that amount passed under the residuary clause of her will and is not at issue here.
		Residuary legatees Denckla and Stewart, already the recipients of over $500,000 each, urge that the power of appointment over the $400,000 appointed to sister Elizabeth's children was not 'effectively exercised' and that the property should accordingly pass to them.
	carver.law.cuny.edu /materials/civpro_materials/hanson.html (8104 words)

	What language would be sufficient to remove a residuary devise from the anti lapse provisions?
		Following the individual cash gifts, the residuary clause of the decedent's will left a 1/10 share to his sister "if she survives me".
		The other shares of the residuary estate were left to a variety of relatives and charities, in varying percentages.
		A residuary clause constitutes an alternative devise with respect to a non residuary devise only if the will specifically provides that, upon lapse or failure, the non residuary devise or non residuary devises in general pass under the residuary clause.
	courts.co.calhoun.mi.us /epic0351.htm (564 words)

	[No title] (Site not responding. Last check: 2007-11-01)
		RESIDUARY CLAUSE (Option 1) If my wife survives me, I give her the residue of my estate.
		Residuary clause is important because it disposes of all property of decedent.
		Clause recognizes that the personal representative's powers applicable to the estate may change either because of a change in domicile or a change of the statute.
	www.umt.edu /lawINSIDER/class/gagliardi/willdr.txt (1427 words)

	Maryland Estate Planning \| Powers of Appointment (Site not responding. Last check: 2007-11-01)
		In this case, the testator was fairly specific that he wanted the trust to qualify for the federal marital deduction, but the Court refused to look beyond the words actually used by the testator to discern intent.
		This provision is intended to give some guidance in situations where there is a residuary clause and no specific mention is made to a specific power of appointment.
		Under the Comment, it is stated that a residuary clause simply directing "all of my property" or the like is presumed to express an intention to exercise a power of appointment only if one or the other of the two circumstances set forth in the Code formulation are satisfied.
	www.fredfranke.com /print_lecture23.htm (1399 words)

	LeanLegal Dictionary - R
		residuary beneficiary The beneficiary to whom the residue of the estate is left.
		residuary estate The property that remains in a deceased person's estate after all specific gifts are made, and all debts, taxes, administrative fees, probate costs, and court costs are paid.
		For example, if you leave your car to a friend, and that friend predeceases you and you have not named an alternate beneficiary, the car becomes part of the residuary estate and will pass to those beneficiaries named in your will for distribution of the residue of your estate.
	www.leanlegal.com /dictionary/r.asp (1703 words)

	[No title] (Site not responding. Last check: 2007-11-01)
		We continue to assume that the residuary clause is partly or wholly ineffective or, indeed, absent.
		An intestacy would be prevented under a rule that the entire residue always passes to the surviving residuary beneficiaries, that is, whether or not the residuary devise satisfies the orthodox criteria for a class gift.
		This is a reasonable interpretation of a residuary clause, which, after all, purports to dispose of the testator's entire estate.
	review.law.mercer.edu /old/48308ft.htm (3961 words)

	[No title] (Site not responding. Last check: 2007-11-01)
		The taxes are grouped with the debts, funeral expenses and costs of administration in the direction in Clause No. 1 as to payment, and since the latter items clearly are payable "off the top" the indication is of the intent that the former be paid in the same way.
		If the testator or his attorney when drafting the will had provided something like "all residuary beneficiaries shall receive their proportionate shares without the preference for the charity beneficiaries provided in Section 733.817(1)(b), Florida Statutes (1977)" then I would find a specific "direction [**18] otherwise" as is contemplated in that statute.
		I would reverse the trial court and remand to have the charity residuary beneficiaries paid their percentage shares before the deduction of estate tax amounts and require the non-charity residuary beneficiaries, unfortunately, to assume the entire tax burden.
	www.alipman.com /snowbirdguide/collin.html (3119 words)

	Matter of Stangle (2005 NYSlipOp 00180) (Site not responding. Last check: 2007-11-01)
		Respondents, Roger Stangle's surviving children, objected to the petition on the basis that the residuary clause provided for specific bequests to decedent's two sisters and brother and, as such, respondents were entitled to receive their father's share of the estate by virtue of the antilapse statute (see EPTL 3-3.3).
		Surrogate's Court dismissed respondents' objection, determining that the residuary clause required survivorship for the gift to vest, prompting this appeal by respondents.
		It is axiomatic that a residuary bequest that is ineffective by reason of the beneficiary's death will not vest if the testator has made an alternative disposition in the will (see e.g.
	www.courts.state.ny.us /REPORTER/3dseries/2005/2005_00180.htm (348 words)

	32 Wn.2d 408, In the Matter of the Estate of CHARLES LIDSTON, Deceased
		A residuary clause in a will, which "directs" the executor to "dispose of" the balance of the estate "according to his wise discretion," will be held to constitute a testamentary disposition of such balance, where it is clear from the context that such was the testator's intention.
		The third instance of the use of these words, appearing in the residuary clause, had reference to the distribution of the estate at the conclusion of the administration.
		We are satisfied that the words "dispose of" in the residuary clause, considered in their context, are of the same import and likewise constitute a testamentary disposition.
	www.mrsc.org /mc/courts/supreme/032wn2d/032wn2d0408.htm (5433 words)

	[No title] (Site not responding. Last check: 2007-11-01)
		Exordium Clause \par \pard \s6 \li1440\fi-360 {\\bkmkstart 800.V.A.2.b da}{\\bkmkend 800.V.A.2.b da}b.
		Residuary Estate Clause \par \pard \s6 \li1440\fi-360 {\\bkmkstart 800.V.A.2.i da}{\\bkmkend 800.V.A.2.i da}i.
		Testimonium Clause \par \pard \s6 \li1440\fi-360 {\\bkmkstart 800.V.A.2.p da}{\\bkmkend 800.V.A.2.p da}p.
	www.bna.com /tm/docs/800a_TOC.doc (7952 words)

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