Bill Text: NY S04951 | 2019-2020 | General Assembly | Amended

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Bill Title: Relates to raising the value of a small estate from $30,000 to $50,000.

Spectrum: Partisan Bill (Democrat 4-0)

Status: (Passed) 2019-11-25 - SIGNED CHAP.557 [S04951 Detail]

Download: New_York-2019-S04951-Amended.html

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                STATE OF NEW YORK
        ________________________________________________________________________

                                         4951--A

                               2019-2020 Regular Sessions

                    IN SENATE

                                      April 2, 2019
                                       ___________

        Introduced  by  Sens.  SEPULVEDA,  MONTGOMERY, SALAZAR -- read twice and
          ordered printed, and when printed to be committed to the Committee  on
          Judiciary  -- committee discharged, bill amended, ordered reprinted as
          amended and recommitted to said committee

        AN ACT to amend the surrogate's court  procedure  act,  in  relation  to
          raising 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 281 of the laws of 2012, 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]
     6  $50,000  or less exclusive of property required to be set off under EPTL
     7  5-3.1 (a).
     8    § 2. This act shall take effect immediately and shall apply to actions
     9  and proceedings commenced on or after such effective date.





         EXPLANATION--Matter in italics (underscored) is new; matter in brackets
                              [ ] is old law to be omitted.
                                                                   LBD10023-02-9