Define: Statutory Share

Statutory Share
Statutory Share
Quick Summary of Statutory Share

The portion of a deceased person’s estate that a spouse is entitled to claim under state law. The statutory share is usually one-third or one-half of the deceased spouse’s property, but in some US states, the exact amount of the spouse’s share depends on whether or not the couple has young children and, in a few states, on how long the couple was married. In most states, if the deceased spouse left a will, the surviving spouse must choose either what the will provides or the statutory share. Sometimes the statutory share is known by its more arcane legal name, dower and curtesy, or as a forced or elective share.

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This glossary post was last updated: 28th March, 2024.

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