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)
“Unhappily, no man exists who has not in his own person become, to some amount, a stockholder in the sin, and so made himself liable to a share in the expiation.”
—Ralph Waldo Emerson (1803–1882)