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PA HB167
Bill
Status
1/16/2025
Primary Sponsor
Timothy Bonner
Click for details
AI Summary
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Increases the threshold for simplified payment of a deceased person's deposit accounts from $10,000 to $20,000, allowing family members to access funds without going through formal probate
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Eligible recipients include spouse, children, parents, or siblings (in that priority order) from banks, credit unions, savings associations, and other savings organizations
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Requires presentation of a receipted funeral bill or affidavit from a licensed funeral director confirming satisfactory funeral payment arrangements
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Financial institutions making such payments receive liability protection equivalent to payment made to a court-appointed personal representative
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Takes effect 60 days after enactment
Legislative Description
In dispositions independent of letters, family exemption, probate of wills and grant of letters, further providing for payments to family and funeral directors.
Last Action
Laid on the table
3/26/2025