16:09
Just got my Michigan rejection
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Simple English definitions for legal terms
forced share
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A quick definition of forced share:
Forced share, also known as elective share, is the amount of money that a spouse or other person is entitled to receive when their partner passes away, regardless of what is written in the will. This means that even if the will says something different, the spouse or other person can still receive this amount. The amount of forced share varies from state to state, but it is usually one-third of the total assets. Some states have different rules based on the length of the marriage and the number of children the couple had together. Forced share is called "forced" because it cannot be changed by the will.
A more thorough explanation:
Forced share (also known as elective share) is a legal term that refers to the amount of money or property that a spouse or other person is entitled to receive, regardless of what is written in a will. This means that even if a person's spouse leaves them out of their will, they may still be entitled to a portion of their estate.
For example, if a husband passes away and leaves all of his assets to his children, his wife may still be entitled to a portion of his estate through forced share laws.
Forced share laws vary by state, but they typically apply to spouses and sometimes children. In some states, the forced share is a specific dollar amount, while in others it may be a percentage of the estate or based on the length of the marriage and number of children.
It's important to note that forced share laws only apply to certain situations, such as when a spouse or child is left out of a will due to a mistake or lack of information. A person can still choose to leave someone out of their will, but they may need to take forced share laws into consideration.