Bill Text: NY A08554 | 2011-2012 | General Assembly | Introduced

New York Assembly Bill 8554 (Prior Session Legislation)

Introduced

Bill Title: Provides for the inclusion of all property required to be set off, pursuant to paragraph (a) of section 5-3.1 of the estates, powers and trusts law, in the value of a small estate.

Spectrum: Partisan Bill (Democrat 1-0)

Status: (Passed) 2012-08-01 - signed chap.281 [A08554 Detail]

Download: New_York-2011-A08554-Introduced.html

                           S T A T E   O F   N E W   Y O R K
       ________________________________________________________________________
                                         8554
                              2011-2012 Regular Sessions
                                 I N  A S S E M B L Y
                                    August 24, 2011
                                      ___________
       Introduced  by  M.  of  A.  WEINSTEIN  --  read once and referred to the
         Committee on Judiciary
       AN ACT to amend the surrogate's court  procedure  act,  in  relation  to
         clarifying  that all property required to be set off shall be included
         in the value of a small estate
         THE PEOPLE OF THE STATE OF NEW YORK, REPRESENTED IN SENATE AND  ASSEM-
       BLY, DO ENACT AS FOLLOWS:
    1    Section  1.    Subdivision  1 of section 1301 of the surrogate's court
    2  procedure act, as amended by chapter 300 of the laws of 2008, is amended
    3  to read as follows:
    4    1. A small estate is the estate of a domiciliary or a  non-domiciliary
    5  who  dies  leaving  personal property having a gross value of $30,000 or
    6  less exclusive of property required to be set off under EPTL  5-3.1  (a)
    7  [(1), (2), (3), (4) and (5)].
    8    S  2.    This act shall take effect immediately and shall be deemed to
    9  have been in full force and effect on and after January 1, 2011.
        EXPLANATION--Matter in ITALICS (underscored) is new; matter in brackets
                             [ ] is old law to be omitted.
                                                                  LBD13267-01-1