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§ 3-203. Right to elective share

MD Est & Trusts Code § 3-203 (2019) (N/A)
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** IN EFFECT UNTIL OCTOBER 1, 2020 PER CHAPTER 435 OF 2019**

(a)    In this section, “net estate” means the property of the decedent passing by testate succession, without a deduction for State or federal estate or inheritance taxes, and reduced by:

(1)    Funeral and administration expenses;

(2)    Family allowances; and

(3)    Enforceable claims and debts against the estate.

(b)    Instead of property left to the surviving spouse by will, the surviving spouse may elect to take:

(1)    A one–third share of the net estate if there is also a surviving issue; or

(2)    A one–half share of the net estate if there is no surviving issue.

(c)    The surviving spouse who makes this election may not take more than a one–half share of the net estate.

(d)    For the purposes of this section, the net estate and the property allocable to a share of a surviving spouse shall be valued as of the date or dates of distribution.

(e)    (1)    For the purposes of this section, a surviving spouse who has elected to take against a will shall be entitled to the surviving spouse’s portion of the income earned on the net estate during the period of administration based on a one–third or one–half share, whichever is applicable.

(2)    If one or more distributions have been made to a surviving spouse or another person that require an adjustment in the relative interests of the beneficiaries, the applicable share shall be adjusted.

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§ 3-204. Right of election personal to surviving spouse