§ 15-11-202 — Elective-share

(1) Elective-share amount. The surviving spouse
of a decedent who dies domiciled in this state has a right of election, under the
limitations and conditions stated in this part 2, to take an elective-share amount
equal to fifty percent of the value of the marital-property portion of the augmented
estate.

(2) (a) Supplemental elective-share amount. If the sum of the amounts
described in sections 15-11-207, 15-11-209 (1)(a), and that part of the elective-share
amount payable from the decedent's net probate estate and nonprobate transfers
to others under section 15-11-209 (3)(a) and (3)(b) is less than fifty thousand dollars,
the surviving spouse is entitled to a supplemental elective-share amount equal to
fifty thousand dollars, minus the sum of the amounts described in those sections.
The supplemental elective-share amount is payable from the decedent's net
probate estate and from recipients of the decedent's nonprobate transfers to
others in the order of priority set forth in section 15-11-209 (3)(a) and (3)(b).

(b) The court shall increase or decrease the dollar amount stated in
paragraph (a) of this subsection (2) based on the cost of living adjustment as
calculated and specified in section 15-10-112.

(3) Effect of election on statutory benefits. If the right of election is
exercised by or on behalf of the surviving spouse, the exempt property and family
allowance, if any, are not charged against but are in addition to the elective-share
and supplemental elective-share amounts.

(4) Nondomiciliary. The right, if any, of the surviving spouse of a decedent
who dies domiciled outside this state to take an elective-share in property in this
state is governed by the law of the decedent's domicile at death.

Legislative History

Source: L. 2014: Entire part R&RE, (HB 14-1322), ch. 296, p. 1222, � 2, effective August 6.