Business, 24.12.2021 08:20 Supermate11

Ronald is an overweight man in his late seventies. He is currently married to his third wife, Melanie, and he has five children: Ronald Jr., Norman, Irene, Kay, and Duke. Due to a heart issue caused by taking a malaria drug and ingesting bleach, Ronald dies suddenly. His estate is worth $5,000,000. Ronald died in New York, and in New York state, the statute of descent and distribution says that if there is a spouse and one or more children of the intestate or their lineal descendants surviving, the first $50,000 goes to the spouse, plus one-half of the remainder to the spouse, and the balance goes to the children equally or to their lineal descendants, per stirpes. Required:
What is a spouse’s statutory elective share right? And, assuming Melanie is still alive for the purpose of this question, how would her statutory elective share right impact Megan Appletree’s inheritance?

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Ronald is an overweight man in his late seventies. He is currently married to his third wife, Melani...