The assets included in the residuary estate are those that remain after specific bequests, debts, expenses, taxes, and other distributions have been satisfied. While the specific assets can vary depending on the individual’s circumstances and the provisions of their Will or estate plan, here are some examples of assets that are commonly included in the residuary estate:
1. Unspecified or residual cash
Any cash or bank accounts that were not specifically bequeathed or designated for a particular purpose.
Stocks, bonds, mutual funds, and other investment holdings that were not explicitly mentioned in the Will or assigned to specific beneficiaries.
3. Real estate
Any property, such as houses, land, or commercial buildings, that was not specifically mentioned in the Will or allocated to particular beneficiaries.
4. Personal property
Items such as furniture, jewelry, artwork, collectibles, and other personal belongings that were not specifically addressed in the Will.
5. Business interests
Ownership interests in businesses or partnerships that were not specifically bequeathed or allocated to specific individuals.
6. Intellectual property rights
Patents, copyrights, trademarks, and other intellectual property assets that were not specifically assigned or distributed.
It is important to note that the assets included in the residuary estate may vary depending on the specific instructions and provisions of the Will or estate plan. The residuary clause in the Will defines what assets are part of the residuary estate and provides instructions on how they should be distributed among the beneficiaries or designated individuals.