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NY A08554

Bill

Official Source

Status

Passed

8/1/2012

Primary Sponsor

Helene Weinstein

Click for details

Origin

Assembly

2011-2012 General Assembly

AI Summary

  • Amends subdivision 1 of section 1301 of the Surrogate's Court Procedure Act to clarify the definition of a small estate
  • Redefines a small estate as an estate with personal property having a gross value of $30,000 or less, now including all property required to be set off under EPTL 5-3.1(a), rather than excluding specific subsections
  • Changes the language from excluding only subsections (1), (2), (3), (4) and (5) to excluding no specific subsections, thereby including all property required to be set off in the valuation calculation
  • Takes effect immediately and is deemed effective retroactively to January 1, 2011

Legislative Description

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.

Last Action

signed chap.281

8/1/2012

Committee Referrals

Judiciary1/30/2012
Judiciary8/24/2011

Full Bill Text

No bill text available