Bill > S809

This bill revises the law regarding the elective share of surviving spouses in Massachusetts. The key provisions are: - The surviving spouse of a decedent domiciled in Massachusetts has the right to elect to receive 50% of the value of the "marital-property portion" of the decedent's "augmented estate" (which includes the decedent's probate estate as well as certain nonprobate transfers). The percentage of the augmented estate that is considered the "marital-property portion" increases based on the length of the marriage. - If the sum of certain amounts is less than $75,000, the surviving spouse is entitled to a "supplemental elective-share amount" up to $75,000, payable from the decedent's probate estate and nonprobate transfers. - The bill details how the elective share and supplemental elective share are to be calculated and paid, with certain protections for payors and third parties who relied on the decedent's governing instruments before receiving notice of the election. - The bill also addresses waivers of the elective share right and other rights, including presumptions of enforceability and requirements for informed consent. - Finally, the bill repeals existing statutory provisions on the elective share and specifies that the new law applies to pre-existing governing instruments, except those that became irrevocable prior to the law's effective date.

Justice

https://malegislature.gov/Bills/190/S809