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Current as of January 01, 2020 | Updated by FindLaw Staff
(a) Elective Share.--The surviving spouse of a decedent who dies domiciled in this State has a right to claim an “elective share”, which means an amount equal to (i) the applicable share of the Total Net Assets, as defined in G.S. 30-3.2(4), less (ii) the value of Net Property Passing to Surviving Spouse, as defined in G.S. 30-3.2(2c). The applicable share of the Total Net Assets is as follows:
(1) If the surviving spouse was married to the decedent for less than five years, fifteen percent (15%) of the Total Net Assets.
(2) If the surviving spouse was married to the decedent for at least five years but less than 10 years, twenty-five percent (25%) of the Total Net Assets.
(3) If the surviving spouse was married to the decedent for at least 10 years but less than 15 years, thirty-three percent (33%) of the Total Net Assets.
(4) If the surviving spouse was married to the decedent for 15 years or more, fifty percent (50%) of the Total Net Assets.
(b) Repealed by S.L. 2013-91, § 1(d), eff. Oct. 1, 2013.
(c) Repealed by S.L. 2009-368, § 1, eff. Aug. 27, 2009.
Cite this article: FindLaw.com - North Carolina General Statutes Chapter 30. Surviving Spouses § 30-3.1. Right of elective share - last updated January 01, 2020 | https://codes.findlaw.com/nc/chapter-30-surviving-spouses/nc-gen-st-sect-30-3-1.html
FindLaw Codes may not reflect the most recent version of the law in your jurisdiction. Please verify the status of the code you are researching with the state legislature or via Westlaw before relying on it for your legal needs.
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