Residue, also known as the residuary estate, refers to the portion of a deceased person's estate that remains after all specific gifts, debts, taxes, and administrative expenses have been paid and distributed.

A residuary estate, most commonly referred to as the residue, is the portion of your estate left over after your executor takes care of your lingering debts, taxes, and expenses, and distributes the bequests outlined in your will. An example of these types of gifts could be a cash gift or a car.