Elective Shares
When a spouse outlives their partner, the process of dividing property among heirs may prove contentious. Although the creator of a will may believe they are providing enough for their spouse in terms of property and land, that surviving spouse may not necessarily feel the same. As a result, there is an option available to those who survive their husbands or wives, known in probate law as an elective share.
The elective share began as a basic measure to ensure some level of support predominately to widows following the death of their husbands. This is why, to some, an elective share may also be known as a widow's share. As the law affects married couples today, the standards of an elective share are not aimed to assist one gender over the other.
In many jurisdictions that support this option, an elective share works in an either-or capacity. This means that a surviving spouse may either take what their husband or wife has left behind or they may take a portion of the estate that generally measures between one-third and one-fourth of the estate. The total percentage permitted in this option may be increased according to the total amount of time the couple was married before the testament was executed, meaning that longer marriages may yield higher share awards.
Not all states include this as an option, however. Depending on the laws of the state, it may either be left out altogether, or included as a basic part of succession or other intestate laws. In these states, it may the case that the elective share does not work unless the will is challenged directly.
Furthermore, there are legal services available for families and spouses seeking to modify an existing will. A process involving wills and trusts can be complex due to all of the legal documents. The assistance of an experienced attorney can help with the personalized customization you and your family need while you focus on other personal matters.
To learn more about spousal rights, and other intestate problems that can arise during the execution of a testament, contact experienced and compassionate legal professionals. Elective shares are determined by the law of the state in which the estate is located. The income of the surviving spouse is also a factor in an adjustment of the share. It is important to seek the right assistance and representation during a sensitive time.
The elective share began as a basic measure to ensure some level of support predominately to widows following the death of their husbands. This is why, to some, an elective share may also be known as a widow's share. As the law affects married couples today, the standards of an elective share are not aimed to assist one gender over the other.
In many jurisdictions that support this option, an elective share works in an either-or capacity. This means that a surviving spouse may either take what their husband or wife has left behind or they may take a portion of the estate that generally measures between one-third and one-fourth of the estate. The total percentage permitted in this option may be increased according to the total amount of time the couple was married before the testament was executed, meaning that longer marriages may yield higher share awards.
Not all states include this as an option, however. Depending on the laws of the state, it may either be left out altogether, or included as a basic part of succession or other intestate laws. In these states, it may the case that the elective share does not work unless the will is challenged directly.
Furthermore, there are legal services available for families and spouses seeking to modify an existing will. A process involving wills and trusts can be complex due to all of the legal documents. The assistance of an experienced attorney can help with the personalized customization you and your family need while you focus on other personal matters.
To learn more about spousal rights, and other intestate problems that can arise during the execution of a testament, contact experienced and compassionate legal professionals. Elective shares are determined by the law of the state in which the estate is located. The income of the surviving spouse is also a factor in an adjustment of the share. It is important to seek the right assistance and representation during a sensitive time.
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