Bill Text: NY A07571 | 2019-2020 | General Assembly | Amended

New York Assembly Bill 7571 (Prior Session Legislation)

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

Spectrum: Partisan Bill (Democrat 1-0)

Status: (Passed) 2019-11-25 - SIGNED CHAP.557 [A07571 Detail]

Download: New_York-2019-A07571-Amended.html




                STATE OF NEW YORK
        ________________________________________________________________________

                                         7571--A

                               2019-2020 Regular Sessions

                   IN ASSEMBLY

                                       May 9, 2019
                                       ___________

        Introduced by M. of A. DINOWITZ -- read once and referred to the Commit-
          tee  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.
                                                                   LBD10023-03-9