What is an elective share?

An elective share refers specifically to the portion of an estate that a surviving spouse is entitled to claim, irrespective of what is stipulated in the deceased spouse's will. This legal right is designed to ensure that a surviving spouse does not end up with nothing when a spouse dies, particularly in situations where the deceased may have made provisions to exclude the spouse or reduce their share in favor of other beneficiaries.

In many jurisdictions, this elective share is typically a fixed percentage of the estate, which varies depending on local laws. The rationale behind the elective share is to protect the surviving spouse's financial interests and provide them with a level of support, which reflects the importance of the marital relationship.

Other options, while they might deal with aspects related to inheritances, do not accurately capture the essence of an elective share. For instance, the entirety of an estate that a beneficiary claims would refer more broadly to a bequest directly outlined in a will, while a mandatory distribution to all heirs would imply an equal sharing among all heirs, which is not the same as a right reserved specifically for a surviving spouse. Similarly, the share allocated to a trust fund refers to a specific legal arrangement unrelated to the rights of married individuals concerning estate claims.