elective share

Question 1

what does elective share do

Answer 1

protects a disinherited spouse

Question 2

elective share formula

Answer 2

1/2 marital property portion of augmented estate

Question 3

augmented estate?

Answer 3

net probate estate

nonprobate transfers from D to SS

nonprobate transfers from D to TP

SS property and her transfers to others

Question 4

marital property portion?

Answer 4

specific % determined on how long they were married

<1 year = 3%
increases 6% a year
>15 years = 100%

Question 5

how is elective share paid out from all that property?

Answer 5

look to D’s own property first

any remaining $ comes out of SS property

Question 6

other protections other than ES?

Answer 6

family allowance

personal property

homestead allowance

family residence

Question 7

family allowance

Answer 7

24k lump sum or 2k/month during estate administration

Question 8

homestead allowance

Answer 8

20k in lieu of anything they get in the will or intestacy

if they get >20k in will, elect that over homestead

Question 9

personal property

Answer 9

20k value

get this in addition to family allowance

Question 10

family residence

Answer 10

SS can occupy in home w/o charge until rights of home determined

Question 11

how can a SS lose these rights?

Answer 11

willful desertion or abandonment and it continues until D dies

unless they did it b/c they were abused