In a will what assets are covered by the phrase “tangible personal property” and what by the phrase “residue of my estate both real and personal”?

Get Legal Help Today

 Secured with SHA-256 Encryption

In a will what assets are covered by the phrase “tangible personal property” and what by the phrase “residue of my estate both real and personal”?

Asked on January 27, 2012 under Estate Planning, Connecticut

Answers:

M.T.G., Member, New York Bar / FreeAdvice Contributing Attorney

Answered 9 years ago | Contributor

Technically under the law, tangible personal property means any property that can be touched or felt. In reality it means everything other than real estate - furniture, a watch, etc.  And although "residue" sounds yucky, it means what remains or is left over in an estate after all the debts and legacies have been discharged (debts paid and assets distributed under a Will). Good luck.


IMPORTANT NOTICE: The Answer(s) provided above are for general information only. The attorney providing the answer was not serving as the attorney for the person submitting the question or in any attorney-client relationship with such person. Laws may vary from state to state, and sometimes change. Tiny variations in the facts, or a fact not set forth in a question, often can change a legal outcome or an attorney's conclusion. Although AttorneyPages.com has verified the attorney was admitted to practice law in at least one jurisdiction, he or she may not be authorized to practice law in the jurisdiction referred to in the question, nor is he or she necessarily experienced in the area of the law involved. Unlike the information in the Answer(s) above, upon which you should NOT rely, for personal advice you can rely upon we suggest you retain an attorney to represent you.

Get Legal Help Today

Find the right lawyer for your legal issue.

 Secured with SHA-256 Encryption