Current with changes from the 2021 Legislative Session through Ch. 42
Section 3-203 - Right to elective share(a) In this section, "net estate" means the property of the decedent passing by testate succession, without a deduction for State or federal estate or inheritance taxes, and reduced by: (1) Funeral and administration expenses;(2) Family allowances; and(3) Enforceable claims and debts against the estate.(b) Instead of property left to the surviving spouse by will, the surviving spouse may elect to take: (1) A one-third share of the net estate if there is also a surviving issue; or(2) A one-half share of the net estate if there is no surviving issue.(c) The surviving spouse who makes this election may not take more than a one-half share of the net estate.(d) For the purposes of this section, the net estate and the property allocable to a share of a surviving spouse shall be valued as of the date or dates of distribution.(e)(1) For the purposes of this section, a surviving spouse who has elected to take against a will shall be entitled to the surviving spouse's portion of the income earned on the net estate during the period of administration based on a one-third or one-half share, whichever is applicable.(2) If one or more distributions have been made to a surviving spouse or another person that require an adjustment in the relative interests of the beneficiaries, the applicable share shall be adjusted.Amended by 2019 Md. Laws, Ch. 197,Sec. 1, eff. 10/1/2019.