senate Bill S6641

Signed By Governor
2011-2012 Legislative Session

Provides for the inclusion of all property required to be set off in the value of a small estate

download bill text pdf

Sponsored By

Archive: Last Bill Status Via A8554 - Signed by Governor


  • Introduced
  • In Committee
  • On Floor Calendar
    • Passed Senate
    • Passed Assembly
  • Delivered to Governor
  • Signed by Governor

do you support this bill?

Actions

view actions (11)
Assembly Actions - Lowercase
Senate Actions - UPPERCASE
Aug 01, 2012 signed chap.281
Jul 20, 2012 delivered to governor
Jun 12, 2012 returned to assembly
passed senate
3rd reading cal.788
substituted for s6641
Jun 12, 2012 substituted by a8554
May 21, 2012 advanced to third reading
May 16, 2012 2nd report cal.
May 15, 2012 1st report cal.788
Mar 07, 2012 referred to judiciary

Votes

view votes

S6641 - Bill Details

See Assembly Version of this Bill:
A8554
Law Section:
Surrogate's Court Procedure Act
Laws Affected:
Amd ยง1301, SCPA

S6641 - Bill Texts

view summary

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.

view sponsor memo
BILL NUMBER:S6641 REVISED 05/21/12

TITLE OF BILL:
An act to amend the surrogate's court procedure act, in relation to
clarifying that all property required to be set off shall be included
in the value of a small estate

PURPOSE OF BILL:
The purpose of this bill is to clarify that all of the items to be set
off for the benefit of the family under Estates Powers and Trusts Laws
(the "EPTL") section 5-3. I are also included in the calculation of a
small estate pursuant to Surrogate's Court Procedure Act (the SCPA)
section 1301.1.

SUMMARY OF PROVISIONS OF BILL:
This bill removes the references to subparagraphs "(1), (2), (3), (4)
and (5)" of EPTL 5-3.1(a) and just refers to EPTL 5-3.1(a) to
determine assets to be included along with personal property having a
value of $30,000 or less, in defining the contents of a small estate.

JUSTIFICATION:
Section 5-3.1 of the EPTL provides that, when a person dies leaving a
surviving spouse or children under 21, certain property belonging to
such decedent must be exempted from his or her estate assets and,
instead, vest in and be set off to the surviving spouse or, if there
be none, to his or her children under 21.

This statute was recently updated and modernized for the first time
since 1992. L. 2010,e. 437. Chapter 437 amended section 5-3.1 by
expanding some of the articles of personal property, to be exempted,
deleting some of the items that were previously exempted and
increasing the value of all of the items referenced therein. EPTL 53.1
is referred to in the calculation of a small estate, as defined in the
SCPA. Section 1301.1 of the SCPA defines a small estate as one
containing property with a value of $30,000 or less, in addition to
such property required to be set off under EPTL 5-3.1 (a) (1), (2),
(3), (4) and (5).

Unfortunately, cross-references in the SCPA to certain specific
subparagraphs in EPTL Section 5-3.1 were inadvertently omitted and
therefore the SCPA was not updated to correspond to the expanded
version of EPTL 53.1 (L. 2010,c. 437). As a result the subparagraphs
referenced in the relevant portion of the SCPA only include
subparagraphs one through five, whereas there are currently eight
different subparagraphs under current law that pertain to calculating
and documenting items to be included in the exemption for the benefit
of the family.

By removing the references in the SCPA to specific subparagraphs one
through five of EPTL 5-3.1(a) and simply cross-referencing EPTL
section 5-3.1(a) instead, it will be made clear that all of the assets
to be set off for the benefit of the family are also included in the
compilation of assets excluded from a small estate.

LEGISLATIVE HISTORY:
New bill.


FISCAL IMPLICATIONS FOR STATE AND LOCAL GOVERNMENTS:
None.

EFFECTIVE DATE:
This act shall take effect immediately and shall be deemed to have
been in full force and effect on and after January 1, 2011.

view full text
download pdf
                    S T A T E   O F   N E W   Y O R K
________________________________________________________________________

                                  6641

                            I N  S E N A T E

                              March 7, 2012
                               ___________

Introduced  by  Sen. BONACIC -- read twice and ordered printed, and when
  printed to be committed to the Committee on Judiciary

AN ACT to amend the surrogate's court  procedure  act,  in  relation  to
  clarifying  that all property required to be set off shall be included
  in the value of a small estate

  THE PEOPLE OF THE STATE OF NEW YORK, REPRESENTED IN SENATE AND  ASSEM-
BLY, DO ENACT AS FOLLOWS:

  Section  1.    Subdivision  1 of section 1301 of the surrogate's court
procedure act, as amended by chapter 300 of the laws of 2008, is amended
to read as follows:
  1. A small estate is the estate of a domiciliary or a  non-domiciliary
who  dies  leaving  personal property having a gross value of $30,000 or
less exclusive of property required to be set off under EPTL  5-3.1  (a)
[(1), (2), (3), (4) and (5)].
  S  2.    This act shall take effect immediately and shall be deemed to
have been in full force and effect on and after January 1, 2011.







 EXPLANATION--Matter in ITALICS (underscored) is new; matter in brackets
                      [ ] is old law to be omitted.
                                                           LBD13267-01-1

Comments

Open Legislation comments facilitate discussion of New York State legislation. All comments are subject to moderation. Comments deemed off-topic, commercial, campaign-related, self-promotional; or that contain profanity or hate speech; or that link to sites outside of the nysenate.gov domain are not permitted, and will not be published. Comment moderation is generally performed Monday through Friday.

By contributing or voting you agree to the Terms of Participation and verify you are over 13.