Residuary Bequest Legal Meaning and Definition

Here is a simplified definition of the legal term Residuary Bequest.

Residuary Bequest (noun)

A Residuary Bequest refers to the remainder of a person's estate that is left, after all specific gifts and debts have been distributed or paid. These can include physical possessions, money, or properties. This will be given to the designated beneficiaries as specified in the deceased person's will.