AUGMENTED ESTATE
\ɔːɡmˈɛntɪd ɪstˈe͡ɪt], \ɔːɡmˈɛntɪd ɪstˈeɪt], \ɔː_ɡ_m_ˈɛ_n_t_ɪ_d ɪ_s_t_ˈeɪ_t]\
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In general terms, an augmented estate consists of property owned by both a deceased person and his or her spouse. The concept of the augmented estate is used only in some states. Its value is calculated only if a surviving spouse declines whatever he or she was left by will and instead claims a share of the deceased spouse's estate. (This is called taking against the will.) The amount of this "statutory share" or "elective share" depends on state law.
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Word of the day
tinctura quininae ammoniata
- A preparation made by dissolving quinin sulphate in alcohol [Br. Ph.].