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ID S1239
Bill
Status
3/13/2014
Primary Sponsor
Local Government and Taxation Committee
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AI Summary
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Amends Idaho Code Section 14-105 to revise the public administrator's duties regarding estate inventory and asset management.
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Public administrator must create and return an inventory of all estate assets in their possession, less debts and projected administration costs.
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For estates with net inventory less than $15,000, the public administrator may pay funeral expenses, last sickness expenses, and administration costs without formal notice to creditors or court proceedings.
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After payment of expenses, the court must order remaining residue distributed to creditors or heirs as appropriate, or transferred to state treasury with abandoned property reports per Idaho Code Section 14-517.
Legislative Description
Amends existing law to revise duties of the public administrator regarding the assets of estates taken into his possession.
ESTATE ASSETS
Last Action
Signed by Governor on 03/13/14 Session Law Chapter 88 Effective: 07/01/2014
3/13/2014