Spousal Elective Share in Oregon: Protecting Your Spouse’s Inheritance
In Oregon, the elective share is a legal right that allows a surviving spouse to claim a portion of their deceased spouse’s estate. This right is designed to protect the surviving spouse from being disinherited or left without sufficient assets to support themselves after their spouse’s death. Understanding your rights under the elective share law and planning your estate accordingly can help avoid disputes and ensure that the surviving spouse is protected in the event of their spouse’s death.
Under Oregon law, the elective share is equal to 30% of the augmented estate. The augmented estate includes the deceased spouse’s probate estate plus any non-probate assets that passed to the surviving spouse through a transfer on death deed, beneficiary designation, or other means.
To claim the elective share, the surviving spouse must file a petition with the court within six months of their spouse’s death. If the surviving spouse is unable to file within this time period, they may be able to obtain a court order extending the deadline. If the deceased spouse’s will does not provide for the surviving spouse in a manner that meets or exceeds the value of the elective share, the surviving spouse may choose to claim the elective share and receive the designated amount from the estate. This may result in the surviving spouse receiving a larger share of the estate than they would have under the terms of the will.
The elective share can be waived by the surviving spouse if they choose to do so. This is often done when the surviving spouse and the deceased spouse had agreed on a different plan for the distribution of their assets and the surviving spouse is satisfied with the provisions of the will.
If you have questions about your spousal elective share rights in Oregon, it is important to speak with an experienced estate planning attorney. At Soriano Law, we are well-versed in the law surrounding spousal elective share and can help you understand your options and make informed decisions about your estate planning. Contact us today for a consultation.
For more information on elective share and estate planning in Oregon, check out these helpful resources: