The most recent term was widow's election, which is defined as:
n. the choice a widow makes between accepting what her husband left her in his will and what she would receive by the laws of succession. Example: the state law in which the husband died would give his widow one-half of his estate by the law of succession (the other half going to the children) if there were no will, but in his will the late husband left his widow only one-quarter of his estate. She can elect to take the one-half. See also: community property descent and distribution succession will.
In addition to Slickdpdx's guess, another reader, Perry, offered the following via e-mail:
(M)y guess -- and I am guessing rather wildly -- is that a widow's election is the widow who has inherited real estate choosing whether to retain residence of a property to which she has dowry rights, perhaps for the remainder of her life, or to sell it/let it be sold, taking some percentage of the sale price.
I think that Slickdpdx's guess was a bit closer, although Perry touched upon the basic idea as well.
Today's term is:
As always, no dictionaries, please.