surviving spouse's share

surviving spouse's share

The ability of spouses to choose to disregard the will left by their deceased husband or wife and,instead,to take a portion of the estate as specified by the state's laws. The provision for a surviving spouse's share is intended to prevent spouses from being disinherited and left destitute.

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Unfortunately, they may not be able to afford to leave unless the homestead is sold and the surviving spouse's share of the proceeds either produces sufficient income or provides enough assets (if the proceeds of the sale are split) to the surviving spouse.
33) If there is an NOL carryforward in the year of death on a joint return, only the surviving spouse's share can be carried forward to future returns.
If beneficiaries disclaim their interests, more assets may be included in the surviving spouse's share, which then will not be subject to taxation because of the marital deduction.