Maryland’s New Elective Share Law: Adjustments and Opportunities

In October, 2020, Maryland will join the ranks of states with an “augmented estate” approach to calculating the spousal elective share. The advent of the new statute passed by this year’s General Assembly requires attorneys to adjust their thinking with respect to a surviving spouse’s rights, and offers opportunities for planning for the benefit of both spouses. In this program, panelists will explore the new law’s provisions in depth from the perspectives of estate planners, elder law attorneys, fiduciary litigators and fiduciary officers.

Maryland’s New Elective Share Law: Adjustments and Opportunities

Maryland’s New Elective Share Law: Adjustments and Opportunities

Course Details

In October, 2020, Maryland will join the ranks of states with an “augmented estate” approach to calculating the spousal elective share. The advent of the new statute passed by this year’s General Assembly requires attorneys to adjust their thinking with respect to a surviving spouse’s rights, and offers opportunities for planning for the benefit of both spouses. In this program, panelists will explore the new law’s provisions in depth from the perspectives of estate planners, elder law attorneys, fiduciary litigators and fiduciary officers.

Faculty:
Jonathan G. Lasley, Esq., Program Chair & Moderator
Stewart, Plant & Blumenthal, LLC

Nakia Gray, Esq.
Gray Legal, P.C.

Kelly M. Preteroti, Esq.
Baker, Donelson, Bearman, Caldwell & Berkowitz, PC

Stacie Simon Rogers, Esq.
Frank, Frank & Scherr, LLC

Alex S. Tanouye, Esq.
The Northern Trust Company

Program Agenda

Introductions & An Overview of the New Elective Share Statute
In this portion of the program, panelists will review and discuss the new elective share statute, including what the augmented estate includes, how the share is determined and satisfied, procedural considerations for making the election, multijurisdictional estate issues, and role of Maryland’s courts with respect to the elective share.

Application of the New Elective Share Law
Panelists will discuss challenges and opportunities presented by the new statute through the use of scenarios for average, small(er) and large estates.
Questions to be considered include:

  • How does the statute protect surviving spouses?
  • How does the statute protect non-spouse beneficiaries?
  • What planning opportunities and challenges does the statute present for estate and trust, elder, disability and family law attorneys?
  • How does the statute affect the roles of fiduciaries and custodians?
  • What are possible areas of controversy?

Q & A