Cummings & Lockwood Wins Significant Probate Law Ruling from Connecticut Supreme Court Concerning Calculation of Surviving Spouse's Statutory Share
Cummings & Lockwood recently obtained a significant ruling in favor of its client from the Connecticut Supreme Court concerning the manner in which a surviving spouse’s statutory share is to be calculated. Cummings & Lockwood successfully argued before the court that the statutory share, which is the portion of an estate that goes to a surviving spouse who was not included in the deceased spouse’s will, is to be based upon the value of the estate’s assets at the time of distribution as opposed to the value at the date of death.
This ruling was particularly significant for Cummings & Lockwood's client, who had served as executrix of the estate, because the value of the estate’s assets had depreciated significantly between the date of death and distribution. The Supreme Court’s decision is one of its two or three most significant decisions in its history concerning the statutory share and will impact the manner in which the share is calculated going forward.