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Elective Share |
Also found in: Financial, Wikipedia | 0.02 sec. |
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Statutory provision that a surviving spouse may choose between taking that which is provided in the will of the deceased spouse or taking a statutorily prescribed share of the estate. Such election may be presented if the will leaves the spouse less than he or she would otherwise receive by statute. This election may also be taken if the spouse seeks to set aside a will that contains a provision to the effect that an attempt to contest the will defeats the rights of one to take under the will. How to thank TFD for its existence? Tell a friend about us, add a link to this page, add the site to iGoogle, or visit webmaster's page for free fun content. |
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A number of states grant a surviving spouse the right to take an elective share of the decendent spouse's estate. Under the Uniform Probate Code (which abolishes dower), the elective share permits a surviving spouse to take property either under the will of the deceased spouse, or to take a percentage of the deceased spouse's separate property (which increases based on the number of years that the couple was married). S did not assert her right to take an elective share against the will. |
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