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And there you have it, residue defined in the context of estate planning. Absent of any mention of soap.
Thursday, February 9, 2012
What is Residue in Estate Planning
Residue -- the word can take on various meanings depending on the subject area it is being used in. In the world of estate planning it means the probate property that has not already been specifically given away. For example, a person may draft a will that says "I leave my house to my church. And I leave the residue of my estate to my children, in equal shares". Residue is a quick way of saying all of my other, unspecified, probate property should go to my children.
And there you have it, residue defined in the context of estate planning. Absent of any mention of soap.
And there you have it, residue defined in the context of estate planning. Absent of any mention of soap.
Melinda Gustafson Gervasi is a Madison attorney and author whose current practice focuses on estate planning and probate. She is committed to increasing the public’s understanding of estate planning and probate issues. In 2013 she released her first book, Middle Class Philanthropist where she illustrates how anyone can leave a legacy. Gustafson Gervasi Law Office, LLC, 5555 Odana Rd., Suite 205, Madison, WI 53719
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