Delaware Notice of Election by Surviving Spouse

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US-03335BG
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Description

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.

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FAQ

What happens if I die without a will? If you die without a will or your will is rejected, your estate is considered to be intestate. Intestate estates are divided among the decedent's spouse and other heirs ing to Delaware's laws.

In Delaware, creditors have a window of eight months from the date of death to make claims against the estate for any debts owed. Paying Debts and Taxes: The executor must then pay off any valid claims from the estate's assets and settle any final income taxes or estate taxes owed.

SURVIVING SPOUSE PARTNER The entire intestate estate goes to the spouse if there are no surviving issue or parent(s) of the decedent (see glossary).

As used in this section, ?cohabitation? means regularly residing with an adult of the same or opposite sex, if the parties hold themselves out as a couple, and regardless of whether the relationship confers a financial benefit on the party receiving alimony.

In joint names with the right of survivorship. Upon the death of the first joint tenant, the surviving joint tenant (co-owner) receives the property.

(a) If a married person domiciled in this State dies, the surviving spouse has a right of election to take an elective share of an amount equal to one third of the elective estate, less the amount of all transfers to the surviving spouse by the decedent, under the limitations and conditions hereinafter stated.

The surviving spouse is entitled to receive up to the amount of $7,500 out of the estate of the decedent. The allowance to the surviving spouse of a decedent shall be made within the shorter of 9 months from the date of death or 6 months from the date of the granting of letters, testamentary or of administration.

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Delaware Notice of Election by Surviving Spouse