What is Elective Share?



Video Summary

What is elective share? Elective share is the rights of a spouse who decides to elect to take against their late spouse's estate. So if the late spouse left a will and they said, "I leave everything to my girlfriend or boyfriend," the spouse has a right to file an election to get 30% of all assets which the decedent had, whether it be held in trust or whatever assets they had. So they can file that and take that as their elective share. In Florida, it's 30% and there's a formula that they use as far as jointly held assets or life estate assets and includes life insurance.

If you are a spouse and your late husband or wife died with a will and did not include you or did not include enough information in there, well, give me a call and we can discuss your rights as far as a surviving spouse and elective share. My phone number is 727-847-2288.