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. It may also be called a widow's share, statutory share, election against the will, or forced share.
Read more about Elective Share: Function and Operation, Calculation of The Augmented Estate
Famous quotes containing the words elective and/or share:
“A politician never forgets the precarious nature of elective life. We have never established a practice of tenure in public office.”
—Hubert H. Humphrey (1911–1978)
“One kind of justice is that which is manifested in distributions of honour or money or the other things that fall to be divided among those who have a share in the constitution ... and another kind is that which plays a rectifying part in transactions.”
—Aristotle (384–323 B.C.)