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The residuary estate is that part of the decedent's estate that remains after all debts, expenses, taxes, and specific bequests have been satisfied. Therefore, you have a half share in anything that is left over.

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13y ago

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What does residuary mean in a will?

Residuary in a will refers to the portion of the deceased person's estate that remains after specific gifts, debts, and taxes have been settled. This portion is typically distributed to the residual beneficiaries as outlined in the will.


What does it mean to share a circle?

to break it in half


Does residuary distribution mean the actual land and home?

The residual is everything left after the debts of the estate is settled and specific bequests are resolved. It refers to anything that is left after any specific bequests are satisfied. The residue is everything left over that is not specifically listed or named, which could include land and a home.


What does the term "tenants-in-common" mean in real estate ownership?

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What does brother mean?

A half-brother (or half-sister) is one with whom you share only one parent, i.e. you have the same mother but different fathers or the same father but different mothers.


What does general allocation percentage mean to a beneficiary?

Depending on the jurisdiction, if we're talking wills, it most likely means the share of an estate going to each beneficiary in a class of beneficiaries.


What happens if the testator dies before signing the Will?

Then you are intestate, and your estate will be handled in accordance with applicable intestacy laws.


What does intestate estate mean?

That there was no will.


What does it mean for two angles to be adjacent?

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What does 'commercial real estate analysis and investments' mean?

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What does Preston mean in the bible?

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My mother passed away holding an 8th share of an estate left to my deceased brother and i share and share alike what does this mean?

I hardly think the quote "share and share alike" is stated in a Will drawn up by a lawyer. Since your brother predeceased your mother and providing no one else is listed as Heir in the Estate and there is just you, then you would get the whole Estate (*only if you are in the Will.) If there are outsiders that are also involved in the Estate originally left to your deceased brother which was forwarded onto your mother, then you would get that 1/8th share. Usually the lawyer will read out the Will to those involved (if this hasn't happened then please contact your mother's lawyer) and he will explain what is in the Will. There could be other provisions in this Will and some of your mother's Estate could go to other siblings, relatives or even a church, etc. People are under the misunderstanding that when a parent is deceased they will automatically get the whole of the Estate, but, in some cases, the deceased can leave the entire Estate to a church, cancer fund, ASPCA, and so on. A Will is the explicit instructions of the deceased as their final say to what is being done with the properties and monies they leave behind. Many families are split apart because they don't care for the choice the deceased has made and often feel they were unfair about it all. Basically, the deceased still has the last word, and thus, that's why there are Wills drawn up. Marcy