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What is augmented estate? Kiritsis Law Group 212 922 0005

May 13, 2021

By: John Kiritsis, Esq., CPA, MBA, MS, JD, LL.M

Generally, it is referenced upon intervention to prevent a party from purposely disinheriting a spouse, by allowing the surviving spouse to claim a portion of the decedent’s augmented estate. Included in the augmented estate, are property sold under terms that were not bona fide and not supported by legal consideration. Calculation of the augmented estate is crucial in calculating the elective share. The applicability and calculation of the  augmented estate, is generally determined by the law the jurisdiction, where the estate is located. The rise of the augmented estate came about from the demise of dowery. By allowing the surviving spouse to get at least some portion of the dead spouse’s estate, it assures that the surviving spouse doesn’t become a destitute and a public charge. The creation of the augmented estate may have its origins on equity and promoting the substantive interest of justice, but in most jurisdictions that allow it, the augmented estate has been codified, when drafting a will that is meant to distribute your assets upon your death, it is important that special care be placed on auciding statutory pitfalls.

 

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