he known of the election:
* * *
(5) Share to surviving spouse.--Notwithstanding any
other provision of this chapter to the contrary, the
following shall apply if a surviving spouse elects to take an
elective share and it is subsequently determined that the
value of the elective share is not equal to or greater than
the value of the share of the estate that the surviving
spouse would receive in the absence of the election:
(i) The surviving spouse shall automatically receive
the value of that larger share of the estate.
(ii) The court shall, to the extent practicable,
require:
(A) any payments or distributions of property
subject to the election to be returned or otherwise
accounted for in the redistribution of the assets of
the estate; and
(B) contributions from beneficiaries as a result
of the increased share of the estate to be paid or
distributed to the surviving spouse.
(iii) This paragraph shall not apply if the
surviving spouse knowingly opts to retain the elective
share even though the value of the elective share is less
than the value of the share of the estate that the
surviving spouse would receive in the absence of the
election.
* * *
Section 2. This act shall apply to the estates of decedents
who die on or after the effective date of this section.
Section 3. This act shall take effect in 60 days.
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