Define: Residuary Clause

A residuary clause is a provision in a will that determines how any remaining assets or property will be distributed after all specific bequests and debts have been settled.

If a will does not include a residuary clause, any assets or property not specifically mentioned in the will may be distributed according to the laws of intestacy, which vary depending on the jurisdiction.

Yes, a residuary clause can be used to distribute specific items if the testator includes specific instructions within the clause.

Yes, a residuary clause can be changed or revoked at any time by the testator as long as they have the mental capacity to do so. This can be done through a codicil or by creating a new will.

Yes, a residuary clause can be contested if there are grounds to believe that the testator lacked the mental capacity to make the will or if there is evidence of undue influence or fraud.

Yes, a residuary clause can be used to disinherit someone by specifically excluding them from receiving any assets or property through the clause.

Yes, a residuary clause can be used to include charitable donations by specifying that a certain percentage or specific assets will be given to a charitable organisation.

No, a residuary clause is not typically used to appoint an executor. The appointment of an executor is usually done in a separate provision within the will.

Yes, a residuary clause can be used to create a trust by specifying that certain assets or property will be held in trust for the benefit of a specific individual or group.

Yes, a residuary clause can be used to distribute assets outside of probate by designating certain assets to pass directly to beneficiaries without going through the probate process. This can be done through the use of beneficiary designations or joint ownership arrangements.