What does the term residue mean?
The residue of your estate includes everything else that you own after all debts, funeral expenses and all legacies and tax has been paid. That is to say every thing you own when you pass away which has not been gifted elsewhere in your will. If you are going to leave the residue of your estate to your spouse or your partner you can also say what is to happen to the residue if your spouse or partner passes away before you for example if the residue of your estate is to pass then to your children.
