Meaning of the word residuary in English

What does residuary mean in English? Explore the meaning, pronunciation, and specific usage of this word with Lingoland.

residuary

US /rəˈzɪdʒ.u.er.i/
UK /rəˈzɪd.ju.ər.i/

Adjective

relating to the residue of an estate, especially after the payment of debts and legacies

Example:
The will specified a residuary beneficiary for the remaining assets.
The residuary estate was divided among the children.