Md. Code, Est. & Trusts § 3-203

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.
(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.

Md. Code, ET § 3-203

Amended by 2019 Md. Laws, Ch. 197,Sec. 1, eff. 10/1/2019.