retirement

What is election against the will?

 

What is election against the will?

(The Bankrate.com financial term of the day is:) "Election against the will."

This is sometimes called "take against the will." It's a legal right that can kick in if your spouse dies -- and sticks it to you in the will. When a hubby or wife leaves you out in the financial cold, your state may allow you to collect a percentage of the dear departed's assets instead.

An estranged wife whose spiteful husband left her a dollar and left everything else to his German shepherd could have the last laugh by making an election against the will to claim a bigger portion of the estate.

To find out more about estate planning, visit the Retirement tab at Bankrate.com.

advertisement

Show Bankrate's community sharing policy
          Connect with us
advertisement
 

A little research could save you BIG on interest.

Don't have time? Our rate-tracker tool saves you time and money. Delivered Thursdays.
 
advertisement
Partner Center
advertisement

Blog

Tara Baukus Mello

Check credit before auto loan

The news that an auto finance company distorted consumer credit records for years is a good reminder to check your credit report regularly.  ... Read more


Connect with us