Contents of Wills—residuary gifts
Contents of Wills—residuary gifts

The following Wills & Probate guidance note provides comprehensive and up to date legal information covering:

  • Contents of Wills—residuary gifts
  • What a residuary gift comprises
  • Determining whether a gift is a gift of residue
  • Failure of share of residue
  • Residuary legatee
  • Settled residue: the rule in
  • Howe v Dartmouth
  • Settled residue: the rule in
  • Allhusen v Whittell
  • Trusts (Capital and Income) Act 2013

What a residuary gift comprises

The residuary estate will not necessarily comprise only cash, but will usually include other assets that have not been sold during the course of administration. Section 33 of the Administration of Estates Act 1925 (AEA 1925) defines the residuary estate as the residue of money and any investment for the time being representing the same, including any part of the estate of the deceased that may be retained unsold and if not required for payment of funeral, testamentary and administration expenses, debts and other liabilities and pecuniary legacies. This is whether:

  1. the testator has attempted to dispose of it and failed, or