NY State Senate Bill 2011-S4008

Senate Bill S4008

2011-2012 Legislative Session

Eliminates the $5,000 limit on small estates for which a public administrator must file an informatory accounting

download bill text pdf

Archive: Last Bill Status - In Senate Committee Judiciary Committee

Introduced
- In Committee Assembly
- In Committee Senate
- On Floor Calendar Assembly
- On Floor Calendar Senate
- Passed Assembly
- Passed Senate
Delivered to Governor
Signed By Governor

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Actions

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	Assembly Actions - Lowercase Senate Actions - UPPERCASE
Jan 04, 2012	referred to judiciary
Mar 14, 2011	referred to judiciary

2011-S4008 (ACTIVE) - Details

See Assembly Version of this Bill:: A5714
Current Committee:: Senate Judiciary
Law Section:: Surrogate's Court Procedure Act
Laws Affected:: Amd §1213, SCPA
Versions Introduced in 2009-2010 Legislative Session:: S6674, A10844

2011-S4008 (ACTIVE) - Summary

Eliminates the $5,000 limit on small estates for which a public administrator must file an informatory accounting; substitutes the limit established by law for small estates.

2011-S4008 (ACTIVE) - Sponsor Memo

                                BILL NUMBER:S4008

TITLE OF BILL:
An act
to amend the surrogate's court procedure act, in relation to the filing
by a public administrator of an informatory accounting for a small
estate

PURPOSE:
To eliminate the $5,000 limit on small estates for which a public
administrator must file an informatory accounting.

SUMMARY OF PROVISIONS:
This bill amends paragraph (c) of subdivision 2 of section 1213 of
the Surrogates Court Procedure Act so that it matches the same
jurisdictional threshold of a small estate set forth in SCPA 1301.

EXISTING LAW:
Existing law requires Public Administrators outside of the City of New
York to file a formal accounting and perform detailed publication for
any estate under their jurisdiction over $5,000 even though the
definition of a small estate was increased to $30,000 on January
1, 2009.

JUSTIFICATION:
Public Administrators are appointed by the courts for a variety of

reasons in New York City and the six largest counties outside of the
boroughs of New York City. Their role is to administer the estates of
those persons who die without wills, without living fiduciaries or
die without any known relatives.
For those Public Administrators who work outside of the City of New
York, they are required to file with the court a formal accounting
for any estate over $5,000. The filing of an informal accounting is
acceptable for those estates under the $5,000 threshold and the
informal accounting can be performed internally by an Administrator,
which saves the estate money. A formal accounting is very detailed,
requires expensive publication, and requires the hiring of outside
counsel. All of the aforementioned fees associated with a formal
accounting diminish the value of the estate.

Through an oversight, the $5,000 threshold relative to the requirement
to file a formal accounting for the counties outside of New York City
was not raised to $30,000 when the limits for a small estate were
increased to $30,000. This bill corrects this oversight and, if
enacted, will go a long way toward saving money for the beneficiaries
of a small estate.

LEGISLATIVE HISTORY:
2009-10: S.6674/A.10844

FISCAL IMPLICATIONS:
None

EFFECTIVE DATE:
This act shall take effect immediately.

2011-S4008 (ACTIVE) - Bill Text download pdf

                            
                    S T A T E   O F   N E W   Y O R K
________________________________________________________________________

                                  4008

                       2011-2012 Regular Sessions

                            I N  S E N A T E

                             March 14, 2011
                               ___________

Introduced  by  Sen. JOHNSON -- 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  the
  filing  by  a  public administrator of an informatory accounting for a
  small estate

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

  Section  1.  Paragraph  (c)  of  subdivision  2 of section 1213 of the
surrogate's court procedure act, as amended by chapter 655 of  the  laws
of 1993, is amended to read as follows:
  (c)  File  in the court after the expiration of 7 months from the time
he OR SHE commences to act as fiduciary of  the  estate  an  informatory
account  in estates in which the gross value of the assets accounted for
[is less than $5,000] DOES NOT EXCEED THE MONETARY AMOUNT DEFINED  AS  A
SMALL  ESTATE  PURSUANT  TO  SECTION 1301 OF THIS ACT and a copy of such
account shall be mailed by certified mail, return receipt requested,  to
each  of  the  persons  entitled  to  receive process upon an accounting
proceeding provided the names and addresses of such persons be known  to
him  OR  HER.   Unless objection or claim be properly filed in the court
within 30 days from mailing such account a final decree settling his  OR
HER  account  may  be  entered without further notice or proceedings and
with the same effect as in an accounting proceeding and he OR SHE  shall
be  entitled to the commissions, costs and allowances allowed him OR HER
by the court in the decree.
  S 2. This act shall take effect immediately.



 EXPLANATION--Matter in ITALICS (underscored) is new; matter in brackets
                      [ ] is old law to be omitted.
                                                           LBD07225-01-1

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