- Social security, pension plans, homestead exemption ($10,000 only in NY), and personal property set-aside (vehicle, farm machinery, personal items, money and property not in excess of $15k)
- greater of $50,000 or one-third of the decedent's net estate (after debt and expenses, but before taxes) + 6% interest beginning 7 months after administrator is appointed.
- Exercised by surviving spouse or conservator of spouse.
- Share includes decedent's estate, intestate distributions, and will substitutes
- Elective share satisfied first from property already received by spouse from estate.
- Calculation - calculate gross estate, then subtract debts, expenses, and exempt property sett-offs. Calculate 1/3 of this amount.
- Statute of limitations: may be exercised btween 6 months after issuance of letters of administration and 2 years from death of decedent.
: rebuttable presumption that omission was mistake. Has right to receive no less than intestate share of deceaed spouse's estate.