This bill has been amended

Bill S6653-2011

Relates to the settlement of informatory accounts by public administrators

Relates to the settlement of informatory accounts by public administrators.

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  • May 2, 2012: 2ND REPORT CAL.
  • May 1, 2012: 1ST REPORT CAL.626
  • Mar 8, 2012: REFERRED TO JUDICIARY

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BILL NUMBER:S6653

TITLE OF BILL: An act to amend the surrogate's court procedure act, in relation to the settlement of informatory accounts by public administrators

This is one in a series of measures being introduced at the request of the Chief Administrative Judge upon the recommendation of her Surrogate's Court Advisory Committee.

This measure would amend SCPA §§1123(2)(e) and 1213(2)(c) in relation to the settlement of small estates by the Public Administrators within and without the city of New York.

SCPA §§1123(2)(e) and 1213(2)(c) index the value of an estate as to which the Public Administrator may act without the issuance of letters to the monetary amount defined as a small estate pursuant to SCPA §1301(1). Accordingly, the authority of public administrators to administer small estates in an efficient and cost effective manner will increase correspondingly as the monetary definition of a small estate may change over time. Despite the cohesiveness of these statutes, a dichotomy exists regarding the settlement of small estates between the public administrators within and without New York City. SCPA §1123(2)(e), as amended in 1993, permits public administrators within the City to file an informatory account where the gross value of the estate accounted for is "less than" that as defined as a small estate in SCPA §1301(1). SCPA §1213(2)(c), however, limits the filing of informatory accounts by public administrator's outside the City to estates where the gross value of assets accounted for is less than $5,000. As a result, these modest estates are burdened with the disproportionate cost of a judicial accounting which often includes the cost of publication and the associated fee of a guardian ad litem. This measure would provide the public administrators of these estates with the same efficient and cost effective means of settling their accounts as is afforded to all other voluntary administrators. Moreover, it is appropriate that the monetary definition of a small estate be the upper limit by which these statutes shall apply.

This measure amends both SCPA § 1123(2)(e) and § 1213(2)(c) to permit the settlement of small estates by filing informatory accounts where the gross value of the assets accounted for does not exceed the monetary amount defined as a small estate pursuant to SCPA §1301(1). This amendment does not abridge the procedure for administering estates of $500 or less.

This measure would have no fiscal impact on the State. It would take effect immediately; provided, however, that it shall apply only to

the estates of decedents who shall have died on or after such effective date.

LEGISLATIVE HISTORY: None. New proposal.


Text

STATE OF NEW YORK ________________________________________________________________________ 6653 IN SENATE March 8, 2012 ___________
Introduced by Sen. BONACIC -- (at request of the Office of Court Admin- istration) -- 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 settlement of informatory accounts by public administrators THE PEOPLE OF THE STATE OF NEW YORK, REPRESENTED IN SENATE AND ASSEM- BLY, DO ENACT AS FOLLOWS: Section 1. Paragraph (e) of subdivision 2 of section 1123 of the surrogate's court procedure act, as amended by chapter 655 of the laws of 1993, is amended to read as follows: (e) File in the court an informatory account in a form prescribed by rule where the gross value of the assets of the estate accounted for [is more than $500 and less than that as] DOES NOT EXCEED THE MONETARY AMOUNT defined as a small estate in subdivision 1 of section 1301 of this act and shall serve a copy of such informatory accounting by certi- fied mail on all interested parties at least 30 days prior to filing with the court. S 2. 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 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 settl- ing 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 3. This act shall take effect immediately; provided, however, that it shall apply only to the estates of decedents who shall have died on or after such effective date.

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