What does a residuary clause in a will refer to?

A residuary clause in a will is designed to address any portion of the estate that has not been specifically mentioned or devised to beneficiaries. This clause essentially acts as a catch-all provision, ensuring that any assets or property not explicitly allocated to specific individuals or entities are distributed according to the testator's wishes. For instance, if a testator leaves certain specific gifts to family members but does not mention other assets, the residuary clause will determine how those remaining assets will be distributed.

This concept is particularly important in estate planning because it helps to avoid probate complications and ensures that all parts of the estate are accounted for and distributed in a manner that reflects the intent of the deceased. Without a residuary clause, assets not specifically gifted might be distributed according to state laws of intestacy, which may not align with the testator's intentions.