What Happens to the Residue of an Estate when a Life Tenant Survives all other Beneficiaries?
In a recent British Columbia case, the court was asked to interpret the residue clause of a will. The testator’s wife held a life interest in the Estate’s property and was a beneficiary of an ongoing testamentary trust. However, both her stepchildren (and presumed receipients of the residue of the Estate) predeceased her. Background The testator died in 1979. He was survived by his second wife (Marion), his adult son….