An elective share is a legal right of the surviving spouse to claim a fixed portion of the deceased spouse’s assets even though their will or estate planning documents suggest otherwise. This law ensures financial support for the surviving spouse and prevents disinheritance.
How does it work?
Under Maryland law, the surviving spouse will receive half of the deceased spouse’s assets if there are no surviving children and a third if there are. This division includes all assets, both probate and nonprobate. This means the surviving spouse will always receive a portion of the deceased spouse’s assets unless the surviving spouse waives their right to receive their share.
How to get the share
Since this is elective, the surviving spouse must file a claim to secure their rights to the assets left behind. They must petition the court within nine months of their spouse’s death or six months after the probate of the will, whichever is later.
How this affects your estate planning
By incorporating the elective share into your estate planning, you can create an asset division plan that best reflects your wishes. You would not be incorrectly assigning the wrong percentages to your heirs because you did not include your spouse, not knowing they can still claim their share anyway.
If you have further questions about how Maryland’s state laws might affect your estate planning, consider consulting with a legal counsel who can help you write your estate plan according to your needs and ensure they comply with state laws.
