3B:8-18 - Satisfaction of elective share
3B:8-18 Satisfaction of elective share.
3B:8-18. Satisfaction of elective share.
The amount of the surviving spouse's or domestic partner's elective share shall be satisfied by applying:
a.The value of all property, estate or interest therein, owned by the surviving spouse or domestic partner in his own right at the time of the decedent's death from whatever source acquired, or succeeded to by the surviving spouse or domestic partner as a result of decedent's death notwithstanding that the property, estate or interest or part thereof, succeeded to by the surviving spouse or domestic partner as the result of decedent's death has been renounced by the surviving spouse or domestic partner;
b.The value of the property described in subsection b. of N.J.S. 3B:8-6, and
c.The remaining property of the augmented estate is so applied that liability for the balance of the elective share of the surviving spouse or domestic partner is equitably apportioned among the recipients of the augmented estate in proportion to the value of their interests therein.
Amended 2005, c.331, s.21.
3B:8-19 Persons subject to contribution.
3B:8-19. Persons subject to contribution.
Only original transferees from, or appointees of, the decedent and their donees, to the extent the donees have the property or its proceeds, are subject to the contribution to make up the elective share of the surviving spouse or domestic partner. A person liable to contribution may choose to give up the property transferred to him or to pay its value as fixed in the manner provided in N.J.S. 3B:8-4.
Amended 2005, c.331, s.22.