elective share

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elective share

The ability of a surviving spouse to elect to take a specified percentage of the decedent's estate rather than the amount left by the will.Most states make some sort of provision so that a surviving spouse cannot be completely disinherited.The vehicle may be the common law rights of curtesy (the widower's share) or dower (the widow's share). Because of archaic concepts about the relative needs of surviving spouses, dower and curtesy did not provide the same benefits to husbands as to wives. As a result, many states passed statutes modifying the rules or even completely abolishing them in favor of a statutory scheme. The statutory system usually allows a surviving spouse to elect between taking what was provided in the will or taking a certain preset percentage of the decedent's estate.

References in periodicals archive ?

2) The early version of these statutes, sometimes referred to as the "original" elective share statutes, provided that the surviving spouse receives a portion (usually one-third) "of the decedent's estate.

Grim fairy tales: studies of wicked stepmothers, poisoned apples, and the elective share

These include the elective share, homestead property, exempt personal property, and a family allowance.

After death does us part: surviving spouse as fiduciary and beneficiary

5) that an election to take an elective share must be filed within the time provided by law.

Amendments to the probate rules

Technically, the mere possibility that a CRT's assets could be used to satisfy a spouse's elective share would disqualify it.

Significant recent developments in estate planning: this article examines recent developments in estate and gift tax planning and compliance. It highlights legislative developments, administrative and procedural changes and significant recent cases and rulings

The client can plan for this situation with a contingent elective share trust under F.

Estate planning issues in a dissolution of marriage

C) if no objection to the election is timely served, an order determining the surviving spouse's entitlement to the elective share may be granted without further notice.

Amendments to the probate rules to conform with recently passed legislation

The legislation: provides a definition of "minor" for purposes of the Probate Code; deletes the definition of "incompetent" and replaces it with the definition of "incapacitated" for purposes of the Probate Code; amends the statute of limitations for determining paternity in probate proceedings; makes clarifications to provisions addressing the elective share; modifies provisions relating to the assessment of attorney's fees and costs when a request for the elective share is withdrawn, and adds a provision for the assessment of fees and costs when an election is not made in good faith.

CS/HB 599--Administration of estates

elective share rights); b) dower or curtesy rights; c) rights as intestate heir; d) rights as a pretermitted spouse; e) exempt property rights; f) family allowance rights; g) homestead rights (discussed above); h) right to qualify and serve as personal representative of the other party's estate or trustee of any trust created by the other party.

Relationship dissolution planning

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).

Overcoming the Boggs dilemma in community property states

604 Florida Statutes, to treat inventories filed with the clerk of court in a probate proceeding in connection with the spousal elective share procedure the same as estate inventories in terms of not being subject to public inspection.

Sections authorized to take legislative positions

The Florida Legislature enacted sweeping reforms to the elective share statute in 1999.

The Medicaid Institutionalized Care Program, the simple estate plan, and the elective share: why the qualified special needs trust was born