Cannon Trust School Level II Practice Exam

Think about how a will handles assets in stages. Specific gifts are allocations of particular items to named people, like giving a necklace to one beneficiary or a car to another. A residuary gift, on the other hand, is about what’s left after those exact items have been given away (and after debts, taxes, and expenses are paid). The rest of the estate—the residue—goes to the residuary beneficiaries. So why is the correct statement the best one? It captures this essential distinction: residuary gifts cover what remains after all specific bequests have been distributed. It’s about the leftover portion of the estate, not about naming specific assets. The other statements mix up who gets specific items, assert an unequal superiority, or describe the opposite of what residuary gifts do.