SB 840 - Current law provides that a small estate affidavit can be used to provide for the distribution of a decedent's estate subject to probate if 1) the value of the estate is less than $40,000; 2) thirty days have elapsed since the death of the decedent and no application for letters or for administration or for refusal of letters is pending or has been granted; and 3) a bond in an amount not less than the value of the personal property is filed by the person making the required affidavit.
This act changes the size of estates qualifying for the small estate affidavit to $100,000. A court may dispense with the bond requirement for good cause, such as when the value of the estate is less than $15,000 or all distributees have waived the filing of a bond. Additionally, when the gross value of the property is more then $15,000 the certificate of the clerk shall not be issued unless a licensed attorney has entered an appearance on behalf of the affiant.
This act is similar to provisions contained in HB 2106 (2016).