What defines a "residuary clause" in a will?

A residuary clause in a will is defined as a provision that directs the distribution of all remaining assets not specifically mentioned in the will. This clause acts as a catch-all for any assets that the testator (the person who created the will) has not explicitly distributed to beneficiaries elsewhere in the document.

When someone passes away, any assets not specifically allocated are considered part of the residue of the estate. The residuary clause ensures that these remaining assets will be distributed according to the wishes of the testator. It simplifies the estate settlement process by preventing any leftover assets from going to intestacy—where the state determines how assets are distributed when someone dies without a valid will.

This is an important aspect of estate planning, as it provides clarity on how assets should be handled and helps prevent complications during the probate process. Thus, the correct understanding of a residuary clause is crucial for both drafting a will and executing it after the testator's passing.