Bill > H1944

This bill updates Massachusetts law regarding the elective share for surviving spouses, which is the legal right of a surviving spouse to claim a portion of their deceased spouse's estate even if the will attempts to disinherit them. The key provisions include establishing a comprehensive formula for calculating the elective share based on the length of the marriage, with the share increasing from 3% for marriages less than one year to 100% for marriages of 15 years or more. The bill creates an "augmented estate" concept that includes not just the probate estate, but also nonprobate transfers, joint accounts, insurance proceeds, and the surviving spouse's own property. If the elective share amount is less than $75,000, the surviving spouse is entitled to a supplemental amount to reach that minimum. The bill also provides detailed rules for how the elective share is calculated and paid from different sources of the decedent's assets, establishes conditions under which a spouse can waive elective share rights, and includes protections for third-party payors. Additionally, the bill allows for the creation of a custodial trust if the surviving spouse is incapacitated and specifies that the law applies to pre-existing legal instruments, with some exceptions for irrevocable instruments.

Justice

https://malegislature.gov/Bills/194/H1944