An elective share is a term used 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 has also been called a widow's share, statutory share, election against the will, or forced share.
The election rights of a spouse are governed by state laws, which vary by state. Under such laws, the surviving spouse has historically had the option of either: 1. Accepting what was provided to him or her pursuant to the decedents will; or 2. Electing to take a fixed portion of the decedents probate estate property.
The rationale for granting an election to the surviving spouse is to ensure that the surviving spouse receives at a minimum amount of the decedents wealth which, in many cases, was accrued during the marriage.
Currently, the amount to be reserved for a spouse is determined by the law of the state where the estate is located. In most states, the elective share is between 1/3 and 1/2 of all the property in the estate, although many states require the marriage to have lasted a certain number of years for the elective share to be claimed, or adjust the share based on the length of the marriage, and the presence of minor children. Some states also reduce the elective share if the surviving spouse is independently wealthy.
Rhode Island Notice of Election by Surviving Spouse is an important legal document that allows a surviving spouse to exercise their rights and make informed decisions regarding the distribution of a decedent's estate. This notice serves as a formal request for a surviving spouse to elect their statutory share, also known as the elective share, which ensures they receive a fair and reasonable portion of the deceased spouse's estate. In Rhode Island, there are different types of Notice of Election by Surviving Spouse, depending on the circumstances and timing of the election: 1. Immediate Notice of Election: This type of Notice is filed promptly after the death of the spouse, usually within a specific time frame prescribed by Rhode Island law. It initiates the process of exercising the surviving spouse's right to elective share and alerts the estate executor or administrator about the election. 2. Delayed Notice of Election: In certain situations, a surviving spouse may be allowed to file the Notice of Election at a later time, usually within a specified period from the date they receive notice of the probate proceedings or distribution of the estate. This option ensures that even if the surviving spouse was not aware of their rights immediately after the spouse's death, they still have the opportunity to exercise their elective share. The Rhode Island Notice of Election by Surviving Spouse typically contains the following essential information: 1. Identification of the decedent: The full legal name, date of death, and last known address of the deceased spouse are provided to ensure proper identification. 2. Surviving spouse's information: The full legal name, address, and contact details of the surviving spouse are included to establish their identity and enable communication throughout the probate process. 3. Election for statutory share: The Notice clearly states that the surviving spouse is choosing to exercise their elective share rights under Rhode Island law. This ensures that the surviving spouse is asserting their legal entitlement to a portion of the decedent's estate. 4. Detailed Estate Inventory: The surviving spouse may need to include an inventory of the decedent's assets and liabilities, such as real estate, personal property, bank accounts, investments, debts, and any other relevant financial information. This inventory helps ensure transparency and aids in determining the value of the estate for the purpose of calculating the elective share. 5. Sworn Statement: A sworn statement by the surviving spouse, typically notarized, affirming the accuracy of the information provided in the Notice and acknowledging any legal consequences that may arise from the filing of the election. 6. Affidavit of Service: If required by Rhode Island law, an affidavit of service is attached to the Notice, confirming that a copy of the Notice has been properly served to the estate executor/administrator, interested parties, or their legal representatives. It is crucial to consult with an experienced attorney or obtain appropriate legal assistance when filling out and submitting the Rhode Island Notice of Election by Surviving Spouse. A skilled professional can guide the surviving spouse through the process, ensuring compliance with all legal requirements and protecting their rights during the estate distribution.Rhode Island Notice of Election by Surviving Spouse is an important legal document that allows a surviving spouse to exercise their rights and make informed decisions regarding the distribution of a decedent's estate. This notice serves as a formal request for a surviving spouse to elect their statutory share, also known as the elective share, which ensures they receive a fair and reasonable portion of the deceased spouse's estate. In Rhode Island, there are different types of Notice of Election by Surviving Spouse, depending on the circumstances and timing of the election: 1. Immediate Notice of Election: This type of Notice is filed promptly after the death of the spouse, usually within a specific time frame prescribed by Rhode Island law. It initiates the process of exercising the surviving spouse's right to elective share and alerts the estate executor or administrator about the election. 2. Delayed Notice of Election: In certain situations, a surviving spouse may be allowed to file the Notice of Election at a later time, usually within a specified period from the date they receive notice of the probate proceedings or distribution of the estate. This option ensures that even if the surviving spouse was not aware of their rights immediately after the spouse's death, they still have the opportunity to exercise their elective share. The Rhode Island Notice of Election by Surviving Spouse typically contains the following essential information: 1. Identification of the decedent: The full legal name, date of death, and last known address of the deceased spouse are provided to ensure proper identification. 2. Surviving spouse's information: The full legal name, address, and contact details of the surviving spouse are included to establish their identity and enable communication throughout the probate process. 3. Election for statutory share: The Notice clearly states that the surviving spouse is choosing to exercise their elective share rights under Rhode Island law. This ensures that the surviving spouse is asserting their legal entitlement to a portion of the decedent's estate. 4. Detailed Estate Inventory: The surviving spouse may need to include an inventory of the decedent's assets and liabilities, such as real estate, personal property, bank accounts, investments, debts, and any other relevant financial information. This inventory helps ensure transparency and aids in determining the value of the estate for the purpose of calculating the elective share. 5. Sworn Statement: A sworn statement by the surviving spouse, typically notarized, affirming the accuracy of the information provided in the Notice and acknowledging any legal consequences that may arise from the filing of the election. 6. Affidavit of Service: If required by Rhode Island law, an affidavit of service is attached to the Notice, confirming that a copy of the Notice has been properly served to the estate executor/administrator, interested parties, or their legal representatives. It is crucial to consult with an experienced attorney or obtain appropriate legal assistance when filling out and submitting the Rhode Island Notice of Election by Surviving Spouse. A skilled professional can guide the surviving spouse through the process, ensuring compliance with all legal requirements and protecting their rights during the estate distribution.
