Future Business Leaders of America (FBLA) Agribusiness Practice Test

Which of the following refers to a spouse's right to take an elective share instead of what is provided by intestate succession law?

1. Right to occupy homestead

2. Spousal election

3. Probate property

4. Living Will

The correct answer is: Spousal election

The term that describes a spouse's right to take an elective share instead of what is provided by intestate succession law is known as spousal election. This concept allows a spouse to choose a certain amount of the deceased partner's estate, rather than accepting whatever is allotted to them under the default rules of intestate succession, which apply when someone dies without a will. Choosing spousal election is important because it provides a safety net for the surviving spouse, ensuring they receive a fair share of the estate, regardless of what the deceased's will may specify. This right is particularly significant in cases where the will may favor other beneficiaries or significantly limit the surviving spouse's inheritance. The other options refer to different legal concepts that do not relate to the right of a spouse to choose their inheritance. The right to occupy homestead typically refers to a legal right concerning the family home, while probate property deals with assets that must go through the probate process after someone dies. A living will, on the other hand, pertains to medical decisions and does not involve inheritance issues.