Legal Definitions - residuary legatee

A residuary legatee is a person who is designated to receive the remaining assets of a deceased person's estate after all specific bequests and debts have been paid. This person is named in the decedent's will and is entitled to receive the residue of the estate.

For example, if a person's will states that their house is to be given to their sister, their car to their nephew, and $10,000 to their favorite charity, the residuary legatee would receive everything else that was not specifically mentioned in the will. This could include cash, investments, personal property, and any other assets that were not specifically bequeathed to someone else.

Another example would be if a person's will only named one beneficiary, the residuary legatee would be that person and would receive the entire estate.