See: elective share
[Last updated in July of 2024 by the Wex Definitions Team]
LIFE EVENTS
widower
According to 17 USC § 101 a widower is a person whose spouse died during their marriage. Also known as a surviving spouse.
[Last updated in July of 2024 by the Wex Definitions Team]
wildcard exemption
Wildcard exemption is one of a few exemptions the Federal government and state governments allow in bankruptcy that protects some of the debtor’s personal assets from creditors. In Federal bankruptcy and in states where the wildcard exemption...
wildcat strike
A wildcat strike is one that is undertaken by employees without the consent of their union. Wildcat strikes are typically done with little notice or warning, making them particularly powerful because there is a higher likelihood that an...
will
A will is a legal document that states a testator’s wishes and instructions for managing and distributing their estate after death. In contrast, intestate succession is passing the property of the decedent according to the State’s intestacy...
will contest
A will contest is a probate proceeding where interested parties dispute the validity of a will. The most common legal grounds for disputing the validity of a will are undue influence by someone close to the decedent, duress, revocation,...
will contract
Though transfers by will are normally donative, it is possible to use a will to form an obligatory, legally enforceable contract. A will contract is created when a promise is made and supported by consideration to leave property by will to...
will execution ceremony
The will execution ceremony is the procedure by which a testator makes known how they want their property to be handled after their death through their will. The execution ceremony has formal requirements such as the signature, attestation...
will substitutes
Will substitutes are methods used instead of a will to transfer one’s property/assets upon their death. Will substitutes are different from regular wills because the title of the asset transfers to the death beneficiary at any point,...
willful tort
A willful tort is a type of tort that is committed intentionally and consciously with the wish to harm another person. It is an act that is neither accidental nor due to negligence. Willful tort is often associated with intentional torts, but...