Different Types Of Residuary Clause Will In Singapore
For senior couples meeting with a legal advisor, residuary clauses are a significant and essential element of a will. Jennifer Russell of Wright Hassall defines the features of an effective residuary clause. A residuary clause will depict who will inherit the rest of the deceased's assets once any debts, funeral expenses, transfer tax, legacies paid, and any items specifically bequeathed are distributed to the rightful beneficiaries. This clause explains the Residuary Clause Will in Singapore . A residuary clause will set out who will inherit the rest of the deceased's assets. Any debts, funeral expenses, transfer taxes, legacy payments, or items bequeathed explicitly to eligible beneficiaries. If the desire has appointed no executors or can act, the residuary beneficiaries can prove their desire. During this case, instead of a 'grant of probate,' they might be entitled to a 'grant of letters of administration stating the desired annex.' An effective residuary