Q: How is augmented estate (on which the percentage of elective share is based) calculated in NJ?
What effect, if any, does the amount of the surviving Spouse’s assets have on the elective share the surviving spouse claims from the decedent’s estate.
A: This is a very complicated area in which a lawyer would need a lot of time to explain for your particular situation, but basically in overly simplified terms the surviving spouse will only be entitled to approximately 1/3 of the other spouses assets (assuming the spouses live together at the time of death). Furthermore this amount can be reduced by funeral expenses and other debts owed by the estate.
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