What is the residue of an estate?
The residue may contain property from several sources. Any property that was not specifically devised in the body of the will becomes part of the residue. Also included is any property the testator didn’t know she owned and any assets acquired after death such as a settlement in a wrongful death or malpractice action. Any bequests that lapse because the beneficiary predeceased the testator may become part of the residue unless other instructions were provided in the will.
