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History
- Print number 4061a
- Amend and recommit to judiciary
- Referred to judiciary
- Referred to judiciary
Companion bill
The same bill in the other chamber. A bill becomes law when one version passes both houses and the governor signs it, so either number can carry it.
Increases the maximum value of a small estate from $30,000 to $100,000
In Assembly Committee · Judiciary · Sponsor Steven Englebright
Full text
The text isn't available here yet. Check nysenate.gov.
Sponsor's memo
BILL NUMBER:S4061A
Title of bill
An act to amend the surrogate's court procedure act, in relation to increasing the value of a small estate
Purpose
To increase the maximum value of a small estate from $30,000 to $100,000.
Summary of provisions
Section one of the bill increases the threshold of a small estate from $30,000 to $100,000.
Section two provides the effective date.
Existing law
A small estate is defined as the estate of a domiciliary or a non-domiciliary who dies leaving personal property having a gross value of $30,000 or less.
Justification
Article 13 of the Surrogates Court Procedure Act entitled "Settlement of Small Estates Without Court Administration" was enacted in 1963 to allow simplified administration of estates with assets that were minimal but could not pass entirely without court supervision. The purpose of the statute was to avoid as often as possible the necessity of probate proceeding in a small estate. This bill recognizes the change in economic times and would increase the size of an estate that could be administered as a "small estate" from $30,000 to $100,000.
Legislative history
2009-10: S.4421A 2008: S.6885
Fiscal implications
Unknown.
Effective date
This act shall take effect on the first of January next succeeding the date on which it shall have become a law.
Summaries, headlines and scores are AI-generated from the official bill text. How we score bills. Source: NYS Open Legislation.