Legal Question in Wills and Trusts in New York
I have heard that in New York State a person must leave his/her spouse at least 50% in his/her will. Now someone told me that this is not true. Which is correct?
2 Answers from Attorneys
The other person is correct; however, the surviving spouse has the right to claim her elective share of 1/3 or her share as stated in the will.
By virtue of marriage, the surviving spouse has the right to make a claim for the right of election, which is the greater of $50,000 or one-third pf the Estate of the first to die. There are aditional claims that can be made, and not all assets are subject to the right of election claim. See Estates Powers and Trusts Law Section 5-1.1 and 5-1.1a, and other laws. See an attorney for a review of the Estate and analysis.
Steven A. Kass, Esq., CELA
Law Office of Steven A. Kass, P.C.
105 Maxess Road, Suite N116
Melville, New York 11747-3851