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Elective Share

   Also found in: Financial, Wikipedia 0.01 sec.

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.
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Additionally, variations in the definitions of elective share laws, common law marriages, community property, descendants, and homestead rights exist that can greatly change the strategy needed to complete a valid will.
Last Wills and Testament Should You Write Your Own? by Lorabella / Law community
The woman asks for her elective share as a wife rather than obeying the conditions of the will after his husband?
Plan Property Investment Professionally by Jon Caldwell / Real estate industry community
Large differences in state law in such areas as spousal elective share, state estate tax, and homestead disposition of property on death make it possible, if not likely, that estate planning documents prepared out of state are no longer appropriate.
What every attorney needs to know about estate planning by Lannon, Patrick J. / Florida Bar Journal
 
 
 
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