Which concept describes the bequest that represents the remainder after debts and specific gifts are paid?

• A. Demonstrative bequest
• B. Intestacy statutes
• C. Statutory law
• D. Residuary bequest

Answer: (D)

The residuary bequest describes the portion of the estate that remains after debts and specific gifts are paid. In a will, assets are first used to cover debts, taxes, and funeral expenses, then to satisfy any specific bequests of particular items or fixed amounts. What’s left—the rest of the estate—is given to the residuary beneficiaries under a residuary clause, often stated as “the rest, residue, and remainder of my estate.” This concept captures the idea of what remains after all specified gifts have been addressed.

Demonstrative bequests involve specifying a sum to be paid from a particular source and aren’t about the leftover portion of the estate. Intestacy statutes apply when there’s no valid will at all, and statutory law is a broad term for laws that govern estates in general, not the leftover portion.