How Do You Spell ELECTIVE SHARE?
Pronunciation: [ɪlˈɛktɪv ʃˈe͡ə] (IPA) 
Pronunciation: [ɪlˈɛktɪv ʃˈe͡ə] (IPA)
Elective share refers to a legal term that pertains to the portion of a deceased person's estate that his or her surviving spouse is entitled to inherit. Also known as the widow's or widower's share, it is a statutory right designed to protect the surviving spouse by providing him or her with a minimum portion of the deceased spouse's assets upon death, regardless of the terms stated in the deceased's will. The elective share aims to prevent the disinheriting of a surviving spouse, particularly when they have been excluded from or inadequately provided for in the deceased spouse's will.
The specific amount or percentage of the elective share generally depends on the applicable state law, although it is typically around one-third to one-half of the deceased spouse's estate. The elective share is calculated after taking into account any other bequests or transfers made to the surviving spouse outside of the estate.
To claim the elective share, a surviving spouse typically must file a petition or claim with the probate court within a specified time frame, usually within six months to one year after the death of the deceased spouse. The court will then evaluate the facts and circumstances of the case, including the size and nature of the deceased spouse's estate, to determine the exact amount or percentage of the elective share that the surviving spouse should receive.
It is important to note that the elective share may vary in different jurisdictions, as state laws have jurisdiction over this matter. Therefore, individuals should consult with an attorney knowledgeable in estate planning and probate law to understand the specific provisions and requirements regarding the elective share in their jurisdiction.
The term "elective share" originated from the Latin word "electivus", meaning "chosen" or "selected". In the legal context, an elective share refers to the portion of a deceased person's estate that a surviving spouse is entitled to claim, regardless of what is stated in the deceased person's will. The term "elective" highlights the fact that the surviving spouse has the right to choose to receive a certain share of the estate, rather than being entirely disinherited by the deceased spouse's will.
