PODCASTEpisode 31 – Spousal Rights After Death: Understanding New York’s Right of Election
Can you cut your spouse out of your will in New York State? The short answer is: you can try, but the law may have other plans. Understanding the rights that come with marriage–especially when it comes to estate planning–is essential for protecting your wishes and your family.
In this episode of Into the Woods, attorney Hannah Cannon returns to join host Dave Shaffer for a deep dive into the spousal right of election under New York State law. They explain how this right guarantees a surviving spouse the greater of $50,000 or one-third of the deceased spouse’s net estate–regardless of what the will says. Dave and Hannah walk through how the net estate is calculated, why simply adding beneficiaries to accounts won’t circumvent the rule, and the six-month window a surviving spouse has to exercise this right. They also discuss waivers, the abandonment defense, and why second marriages require special attention. The episode wraps with a cautionary show-and-tell segment about Ric Ocasek, lead singer of The Cars, whose attempt to disinherit his estranged wife, supermodel Paulina Porizkova, didn’t go as planned.