STATUTORY SHARE
Back to GlossaryDefinition
The share an heir is entitled to under state law if the decedent left no valid will.
Summary
A statutory share is the portion of a deceased person's estate that an heir (typically a surviving spouse or child) is legally guaranteed to receive under state law when someone dies without a valid will (intestate). This protection ensures that close family members receive inheritance even if the deceased didn't plan their estate. Each state has specific laws determining who qualifies as an heir and what percentage of the estate they receive. The statutory share acts as a safety net, preventing family members from being completely disinherited due to lack of estate planning.
Usage Context
Understanding statutory share is crucial when studying intestate succession, estate planning consequences, and family protection laws. It's particularly important when analyzing cases where individuals die without proper estate planning documents.
Common Confusions
- Confusing statutory share with elective share (which applies when there IS a will)
- Thinking statutory share applies to all family members equally
- Assuming statutory share percentages are the same in all states
- Believing that statutory share can be completely avoided through estate planning
- Mixing up statutory share with community property rights
