NosyBeagle
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LSDefine
Simple English definitions for legal terms
order assigning residue
Read a random definition: executory judgment
A quick definition of order assigning residue:
Order Assigning Residue: This is a legal document from a probate court that decides who gets what from a person's estate after they pass away. It lists the names of the people who will receive a part of the estate and how much they will get. It's like dividing a cake into slices and giving each person their fair share.
A more thorough explanation:
An order assigning residue is a legal document issued by a probate court that determines who is entitled to receive parts of an estate and how much each person will receive. This order is used when there are assets left over after specific gifts and bequests have been distributed.
For example, if a person's will states that their house should go to their daughter and their car should go to their son, but there is still money left in the estate after these gifts have been distributed, an order assigning residue would be used to determine who should receive the remaining funds.
Another example would be if a person dies without a will, and their estate is distributed according to the laws of intestacy. If there are still assets left over after the heirs have been determined, an order assigning residue would be used to distribute these assets among the heirs.
Overall, an order assigning residue is an important legal document that ensures that all assets in an estate are distributed fairly and according to the wishes of the deceased or the laws of the state.