What is "Residue"?
The residue is everything that remains after specific bequests
(if any) and after payment of all debts, taxes and expenses.
There is no need to itemise the residue, you can simply decide
what proportion each beneficiary is to receive, if you are naming
more than one. You may wish to leave the residue to your spouse
and then for it to pass on to your children. If perhaps you do not
wish your children to benefit in equal shares you can state what
proportion each child is to receive.
If you are single, or do not have any children you may wish to
leave the residue to other named beneficiaries.