question.jpgIn Trusts and Estates

What is a residuary gift?

A residuary gift is a testamentary gift where all of the leftover property (the so-called residual property) is gifted away. For example, the residuary gift of my will might say “and the rest of my property goes to Bob.” Thus, once the other gifts are met out, whatever property is left in my estate is the residual property, and it goes to Bob as a residuary gift.