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North Carolina law provides essential protections for surviving spouses, ensuring they're not left in financial hardship following their partner's death. Two key provisions are the Spousal Allowance and the Elective Share—each designed to support the surviving spouse and eligible children.

Spousal Allowance

The year’s allowance, currently set at $60,000, is intended to provide financial support during the estate administration process. As of March 1, 2024, new legislation allows surviving spouses to claim this allowance without a strict time limit, as long as certain conditions are met. Notably, the spousal allowance now takes priority over any claims by eligible children.

Elective Share

In addition to the spousal allowance, a surviving spouse can claim an elective share of the deceased’s estate, calculated based on the length of the marriage. The percentage ranges from 15% for marriages under five years to 50% for marriages lasting 15 years or more. This claim must be filed within six months of the estate’s administration beginning.

Takeaway: 

Surviving spouses should consult an estate planning attorney to explore these protections and ensure their financial security during this challenging time.

Conclusion

Protecting your loved ones is more than just planning for the future—it's about ensuring their well-being after you're gone. North Carolina's spousal protections, like the Year’s Allowance and Elective Share, are vital tools to help secure financial stability for surviving spouses. Whether you're just beginning your estate planning or revisiting it, these legal safeguards can offer peace of mind during life's most challenging moments. Remember, it's always wise to consult with an estate planning attorney to ensure all your bases are covered.

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Thank you for reading our e-newsletter dedicated to protecting your assets and planning for long-term care. We look forward to assisting you with strategic legal solutions that ensure your peace of mind.

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Stay informed, stay in control.

Greg McIntyre

Elder Law & Estate Planning Attorney 

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