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In addition
to the family allowance and exempt property, a surviving spouse of a decedent
who was domiciled in Virginia is entitled to a homestead allowance of
$15,000. If there is no spouse the homestead allowance is divided among
the decedent's minor children.
The homestead
allowance has priority over all claims against the estate, except the
family allowance and exempt property (discussed in the preceding sections).
Unlike the
family allowance and exempt property, the homestead allowance is in lieu
of any share passing to the surviving spouse or minor children by will
or intestate succession, except if the amount passing to them is less
than $15,000, the homestead allowance may be used to make up the difference.
Also, if
the surviving spouse claims and receives an elective
share (discussed in the next section), the surviving spouse may not
also receive the homestead allowance.
The homestead
allowance must be claimed within 1 year from the decedent's death using
the same procedure described for family allowance and exempt property.
| In
some cases a careful analysis should be made to determine whether
a surviving spouse and/or minor children should take the homestead
allowance as compared to what they may be entitled to receive from
the estate. |
Elective
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