Options for Spouse and Children

Question 1

Options for Spouse purposely omitted from the will

Answer 1

1. Take under the will (if was given just $1)
2. elect against the will under elective shares statute

Question 2

Elective shares formula

Answer 2

• Take one-half amount of spouse’s intestate share, and
• subtract one half the value of all the property the spouse received from the decedent other than by the will. This includes:
  
  • jointly held property
  • insurance proceeds
  • any transfer or gift made within two years before the decedent’s death
• • HEF