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 right of election of a surviving spouse may be waived, wholly or partially, by a written agreement, or by a waiver signed by the surviving spouse. A valid waiver by a surviving spouse of a right of election against a will must meet three requirements: 1. It must be in the form of a written contract or agreement; 2. It must be signed by the party waiving the right; and 3. There must have been fair disclosure.
Title: Los Angeles California Waiver of Right to Election by Spouse: A Comprehensive Overview Introduction: In Los Angeles, California, individuals have the option to execute a Waiver of Right to Election by Spouse. This legal document relinquishes certain rights that a surviving spouse may have in a deceased spouse's estate. This article offers a detailed description of the Los Angeles California Waiver of Right to Election by Spouse, examining its significance, purposes, requirements, and potential variations. Keywords: Los Angeles California, Waiver of Right to Election by Spouse, surviving spouse, estate, legal document, rights, regulations 1. Understanding the Waiver of Right to Election by Spouse: The Waiver of Right to Election by Spouse is a legal instrument established under California law, specifically applicable in Los Angeles. It allows a surviving spouse to renounce their statutory rights to make an election against the estate of a deceased spouse, thereby waiving certain entitlements that would exist under normal circumstances. 2. Purpose and Significance: The primary aim of Waiver of Right to Election by Spouse is to provide individuals with the freedom to allocate their assets and estate as per their wish, without fear of interference from a surviving spouse. By obtaining a waiver, a deceased individual ensures an efficient and smooth distribution of assets according to their estate plan. 3. Requirements for a Valid Waiver: To ensure the validity and enforceability of a Los Angeles California Waiver of Right to Election by Spouse, certain requirements must be met. These typically include: a) Written Form: The waiver should be in writing, as oral waivers are generally not recognized. b) Voluntary Intent: The waiver must be executed voluntarily by the spouse, indicating a clear intention to relinquish any rights that may otherwise be entitled to. c) Adequate Information: The waiving spouse should have a reasonable understanding of the potential consequences resulting from the waiver. 4. Common Types of Los Angeles California Waiver of Right to Election by Spouse: While the primary purpose of the waiver remains the same, variations may arise based on specific circumstances. Some common types include: a) Partial Waiver: In certain cases, a spouse might choose to waive their rights to a portion of the estate, rather than the entirety. This could be agreed upon through negotiations or to honor specific agreements previously made. b) Temporary Waiver: Depending on the circumstances, spouses may agree on a temporary waiver, covering a specific period or event, while retaining the right to an election at a later date. Conclusion: The Los Angeles California Waiver of Right to Election by Spouse is a legal tool that provides individuals with the ability to govern the disposition of their assets after death, independent of the claims that a surviving spouse may have. By understanding the purpose, requirements, and possible variations of this waiver, individuals can make informed decisions regarding their estate planning in Los Angeles, California. Keywords: Los Angeles California, Waiver of Right to Election by Spouse, surviving spouse, estate, legal document, rights, regulations, written form, voluntary intent, adequate information, partial waiver, temporary waiver.Title: Los Angeles California Waiver of Right to Election by Spouse: A Comprehensive Overview Introduction: In Los Angeles, California, individuals have the option to execute a Waiver of Right to Election by Spouse. This legal document relinquishes certain rights that a surviving spouse may have in a deceased spouse's estate. This article offers a detailed description of the Los Angeles California Waiver of Right to Election by Spouse, examining its significance, purposes, requirements, and potential variations. Keywords: Los Angeles California, Waiver of Right to Election by Spouse, surviving spouse, estate, legal document, rights, regulations 1. Understanding the Waiver of Right to Election by Spouse: The Waiver of Right to Election by Spouse is a legal instrument established under California law, specifically applicable in Los Angeles. It allows a surviving spouse to renounce their statutory rights to make an election against the estate of a deceased spouse, thereby waiving certain entitlements that would exist under normal circumstances. 2. Purpose and Significance: The primary aim of Waiver of Right to Election by Spouse is to provide individuals with the freedom to allocate their assets and estate as per their wish, without fear of interference from a surviving spouse. By obtaining a waiver, a deceased individual ensures an efficient and smooth distribution of assets according to their estate plan. 3. Requirements for a Valid Waiver: To ensure the validity and enforceability of a Los Angeles California Waiver of Right to Election by Spouse, certain requirements must be met. These typically include: a) Written Form: The waiver should be in writing, as oral waivers are generally not recognized. b) Voluntary Intent: The waiver must be executed voluntarily by the spouse, indicating a clear intention to relinquish any rights that may otherwise be entitled to. c) Adequate Information: The waiving spouse should have a reasonable understanding of the potential consequences resulting from the waiver. 4. Common Types of Los Angeles California Waiver of Right to Election by Spouse: While the primary purpose of the waiver remains the same, variations may arise based on specific circumstances. Some common types include: a) Partial Waiver: In certain cases, a spouse might choose to waive their rights to a portion of the estate, rather than the entirety. This could be agreed upon through negotiations or to honor specific agreements previously made. b) Temporary Waiver: Depending on the circumstances, spouses may agree on a temporary waiver, covering a specific period or event, while retaining the right to an election at a later date. Conclusion: The Los Angeles California Waiver of Right to Election by Spouse is a legal tool that provides individuals with the ability to govern the disposition of their assets after death, independent of the claims that a surviving spouse may have. By understanding the purpose, requirements, and possible variations of this waiver, individuals can make informed decisions regarding their estate planning in Los Angeles, California. Keywords: Los Angeles California, Waiver of Right to Election by Spouse, surviving spouse, estate, legal document, rights, regulations, written form, voluntary intent, adequate information, partial waiver, temporary waiver.
