“Gift over” in a will to a substitute beneficiary
A gift over in a will is when the person designated to receive it has died, the gift then passes over to a substitute person, if so named to take.
Residue
“My issue” – considering the meaning of “issue” in wills
What is the legal meaning of issue, remoter issue and similar terms in wills? Does it mean children? Are all descendants entitled to inherit in the same way? Find our more about this flexible term “issue” here.
Residue of a deceased estate, the residuary estate – what is it?
The residue of a deceased person’s estate is basically what is left over after the payment all costs in connection with the estate. That is, payment of funeral expenses, costs incurred in the administration of the estate, payment of the deceased’s debts, discharge of any liabilities and the distribution of any specific gifts made under the will.