Residue

Refers to what is left after the execution of a Will, include the payment of all debts, distribution of all legacies to beneficiaries and the payment of the executor’s fee. A Will can specify who is the beneficiary of a residuary estate through a residuary bequest or residuary clause. A typical residuary beneficiary is a charity specified in the Will. If there is no residuary clause then the residue will fall into intestacy and distributed to the heirs according to intestacy law.