Augmented Estate

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Definition: Augmented Estate

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Full Definition of Augmented Estate

In general terms, an augmented estate consists of property owned by both a deceased person and his or her spouse. The concept of the augmented estate is used only in some states. Its value is calculated only if a surviving spouse declines whatever he or she was left by will and instead claims a share of the deceased spouse’s estate. (This is called taking against the will.) The amount of this “statutory share” or “elective share” depends on state law.

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Augmented Estate. PayrollHeaven.com. Payroll & Accounting Heaven Ltd. June 23, 2021 https://payrollheaven.com/define/augmented-estate/.
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Augmented Estate. PayrollHeaven.com. Payroll & Accounting Heaven Ltd. https://payrollheaven.com/define/augmented-estate/ (accessed: June 23, 2021).
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Augmented Estate. PayrollHeaven.com. Retrieved June 23, 2021, from PayrollHeaven.com website: https://payrollheaven.com/define/augmented-estate/

Definition Sources

Definitions for Augmented Estate are sourced/syndicated and enhanced from:

  • A Dictionary of Economics (Oxford Quick Reference)
  • Oxford Dictionary Of Accounting
  • Oxford Dictionary Of Business & Management

This glossary post was last updated: 22nd April, 2020 | 4 Views.