Residue Legal Meaning and Definition

Here is a simplified definition of the legal term Residue.

Residue (noun)

The term 'Residue' in legal context refers to the remainder of a deceased person's estate, assets or property that is left over after all their specified gifts have been given out according to what was mentioned in their will, and when there are no more specific instructions or wishes left in the will to fulfill. It is essentially what is left to be distributed after everything else has been taken care of.