MS HB56

Amends Mississippi Code sections 81-5-63 and 91-7-322 to add beneficiaries named in a decedent's will as eligible successors for payment without administration.

Allows banks to pay up to $12,500 from a deceased depositor's account directly to a will beneficiary if no spouse, children, parents, or adult siblings survive.

Enables any person holding the decedent's property or debt instruments to pay or deliver them to a will beneficiary after 30 days if the estate value does not exceed $50,000 and no personal representative has been appointed.

Maintains existing priority order for payment without administration, with will beneficiaries eligible only after exhausting spouse, minor children, adult children, parents, and adult siblings.

Takes effect July 1, 2014.