Who Gets the Rest of Your Estate?

After specific gifts and liabilities have been dealt with, there is often part of an estate left to distribute. This is commonly known as the residual estate, and it is frequently one of the most important parts of a Will.

The residual estate is everything that remains after debts, taxes, funeral expenses, administration costs, and any specific gifts have been paid or transferred.

This may include cash, investments, property proceeds, personal possessions not specifically gifted, or any assets left over after the estate has been administered.

Your Will should clearly state who receives this remainder. Those entitled are often referred to as residuary beneficiaries.

In many estates, the residue can represent the largest overall share of value, which makes clear drafting especially important.

If the residue is not dealt with properly, uncertainty can arise over who should inherit. This can lead to delay, unnecessary cost, or unintended outcomes.

A properly prepared Will should consider both specific gifts and the overall residue so the estate is distributed as intended.

Back to Ultimate Guide

FAQ

What is the residual estate?

It is what remains after debts, costs, taxes, and specific gifts have been dealt with.

Who receives the residual estate?

The people or organisations named in the Will as residuary beneficiaries.

Is the residue often valuable?

Yes. In many estates it can be the largest part of the estate.

What if the Will does not deal with the residue properly?

It can create uncertainty, delay, or unintended outcomes.

If you would like advice on preparing a clear and effective Will, MJV Solicitors provide straightforward guidance and transparent pricing.

Purchase price	Our fee	VAT	Total
£0-£100,000	£600	£120	£720
£100,001 - £150,000	£650	£130	£780
£150,001 - £200,000	£700	£140	£840
£200,001 - £250,000	£750	£150	£900
£250,001 - £300,000	£800	£160	£960
£300,001 - £400,000	£850	£170	£1020
£400,001 - £500,000	£900	£180	£1080
£500,001 - £750,000	£1000	£200	£1200

Additional charge and explanation	Our fee	VAT	Total
Bank transfer fee	£30.00	£6.00	£36.00
Independent ID verification (per person)	£5.00	£1.00	£6.00

Charge	Our fee	VAT	Total
Purchase of a leasehold house	£100.00	£20.00	£120.00
Purchase of any other leasehold property	£150.00	£30.00	£180.00
Purchase of a shared ownership property	£250.00	£50.00	£300.00
Gifted deposit	£50.00	£10.00	£60.00
New build property	£250.00	£50.00	£300.00

Local Authority’s current search fee (if Blackpool, Wyre or Fylde)	£122.70 inc VAT
Drainage and Water search fee	£79.50 inc VAT
Environmental search	£71.40 inc VAT
Land Registry priority title search	£3.00 no VAT
Bankruptcy search - £2 per seller named on the Register of Title	£2.00 no VAT
Land charges search - £2 per seller named on the Register of Title	£2.00 no VAT

Purchase price	Land Registry registration fee (no VAT)
£0 - £80,000	£20.00 no VAT
£80,001 - £100,000	£40.00 no VAT
£100,001 - £200,000	£100.00 no VAT
£200,001 - £500,000	£150.00 no VAT
£500,001 - £1,000,000	£295.00 no VAT
£1,000,000 and above	£500.00 no VAT

Who Gets the Rest of Your Estate?

FAQ

Call: 01253 858231

info@mjvlaw.co.uk

Cleveleys Office

Blackpool Office

Conveyancing price guide

Introductory paragraph explaining price transparency and why the costs are displayed below.

Purchasing

Selling

Purchase price	Our fee	VAT	Total
£0-£100,000	£600.00	£120.00	£720.00
£100,001 - £150,000	£650.00	£130.00	£780.00
£150,001 - £200,000	£700.00	£140.00	£840.00
£200,001 - £250,000	£750.00	£150.00	£900.00
£250,001 - £300,000	£800.00	£160.00	£960.00
£300,001 - £400,000	£850.00	£170.00	£1020.00
£400,001 - £500,000	£900.00	£180.00	£1080.00
£500,001 - £750,000	£1000.00	£200.00	£1200.00
Over £750,000	To be negotiated	To be applied	To be agreed