OLR Bill Analysis

SB 1454

AN ACT CONCERNING THE REQUIREMENTS FOR FILING AN AFFIDAVIT IN LIEU OF ADMINISTRATION IN THE PROBATE OF A SMALL ESTATE.

SUMMARY:

This bill permits expedited probate proceedings for settling certain decedent's estates valued at $ 40,000 or less instead of $ 20,000 or less.

EFFECTIVE DATE: October 1, 2007

ESTATES THAT CAN USE AN AFFIDAVIT IN LIEU OF ADMINISTRATION

The law allows certain people, instead of filing an application for admission of a will to probate or letters of administration, to file an affidavit with probate court. The affidavit must state that all the decedent's debts have been paid as prescribed by law, at least to the extent of the fair value of the decedent's assets. Current law allows this affidavit when (1) the decedent leaves certain types of property and (2) the property's aggregate value does not exceed $ 20,000. The bill increases the aggregate value to $ 40,000.

BACKGROUND

Affidavits in Lieu of Administration

By law, an affidavit must also state that a decedent either did, or did not, receive aid or care from the state, including aid or care from the Department of Veterans' Affairs.

The types of property covered by this law include:

1. bank deposits;

2. equity in shares in any savings and loan association or federal savings and loan association or credit union doing business in Connecticut;

3. corporate stock or bonds;

4. any unpaid wages due from any corporation, firm, individual, association, or partnership located in Connecticut;

5. any death benefit payable from any fraternal order or shop society or under any insurance policy for which the decedent failed to name a beneficiary entitled to receive such death benefit;

6. other personal property, tangible or intangible, including any motor vehicle or motor boat registered in his or her name; or

7. an unreleased interest in a mortgage with or without value.

COMMITTEE ACTION

Judiciary Committee

Joint Favorable

Yea

38

Nay

0

(04/02/2007)