Which term refers to a statutory portion of the estate that a surviving spouse can claim irrespective of the will provisions?

Which term refers to a statutory portion of the estate that a surviving spouse can claim irrespective of the will provisions?

• A. Listing agreement
• B. Mortgage
• C. Nuncupative will
• D. Elective share

Answer: (D)

The main idea being tested is the surviving spouse’s right to an elective share, a statutory portion of the estate that can be claimed regardless of what the will provides. This mechanism exists to prevent a spouse from being left with little or nothing through a decedent’s testament. The spouse can choose to accept the will’s terms or instead take the statutory share set by law, which is calculated according to the jurisdiction’s rules. The exact amount varies, and it can interact with gifts made during life or jointly held property, but the core concept is the legally protected portion that the surviving spouse may insist on receiving. The other terms don’t fit this concept: a listing agreement is a contract with a real estate broker, a mortgage is a debt secured by property, and a nuncupative will is an oral will with limited validity in many places and does not describe the protected statutory share for a spouse.

The main idea being tested is the surviving spouse’s right to an elective share, a statutory portion of the estate that can be claimed regardless of what the will provides. This mechanism exists to prevent a spouse from being left with little or nothing through a decedent’s testament. The spouse can choose to accept the will’s terms or instead take the statutory share set by law, which is calculated according to the jurisdiction’s rules. The exact amount varies, and it can interact with gifts made during life or jointly held property, but the core concept is the legally protected portion that the surviving spouse may insist on receiving.

The other terms don’t fit this concept: a listing agreement is a contract with a real estate broker, a mortgage is a debt secured by property, and a nuncupative will is an oral will with limited validity in many places and does not describe the protected statutory share for a spouse.