What does a residuary clause mean?
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What does a residuary clause mean?
The Will states Igive all my residuary estate, being all personal and real property, wherever situated, in which I may have any interest at the time of my death not otherwise effectively disposed of, but not including any property over which I have a power of appointment as follows per stirpes, to my children X and Y.
Asked on September 29, 2011 under Estate Planning, Wisconsin
Answers:
M.T.G., Member, New York Bar / FreeAdvice Contributing Attorney
Answered 13 years ago | Contributor
I am so sorry for your loss. A residuary clause in a Will is a "catch all" clause. By that I mean that it covers any property that remains after all the other assets and property is specifically or expressly disposed of by other parts of the Will. "per stirpes" means by or through the roots, meaning that it is given to the children of the decedent and to their children if they should not be alive to inherit it. These type of clauses are fairly common in all Wills. I would even go so far to state that they are "standard" in just about every Will in every state. I hope that this helped. Good luck.
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