Who can claim the elective share?

Who can claim the elective share?

Elective share statutes give to a surviving spouse a fixed fraction, typically out of a probate estate of the deceased spouse. Traditionally that fraction is one-third of the estate regardless of the length of the marriage.

How are elective shares calculated?

amount is the amount to which the surviving spouse is entitled. The elective-share amount is calculated by multiplying the aug- mented estate by the elective-share percentage.

What is included in the elective share?

An elective share is a term used in American law relating to inheritance, which describes a proportion of an estate which the surviving spouse of the deceased may claim in place of what they were left in the decedent’s will.

Why would a spouse take an elective share?

The purpose of elective share statutes is to allow a measure of financial protection to the surviving spouse, saving him or her from destitution.

What is elective share right?

As the name implies, California’s provision for an elective share gives a surviving spouse the right to choose to take certain property from the estate, even if that property was not part of the surviving spouse’s inheritance. …

What is the spousal elective share in Massachusetts?

Under the current spousal elective share statute’ in Massachusetts, a surviving spouse, in cases where the decedent left issue, can elect against the decedent’s probate estate and receive a life interest in one-third of the decedent’s personal and real property, and is only entitled to receive the first $25,000 of that …

How much does an estate have to be worth to go to probate in Massachusetts?

The estate must be valued at or below $25,000 with no real estate and excluding the value of an automobile.

What happens if a Remainderman dies?

The rights to the property will go to the estate of the remainderman and will be transferred according to the terms of the remainderman’s will or through the intestate probate process if no will exists. For example, if a remainderman dies, the property may be distributed to her children by will after your death.