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Committee advances bill to raise deceased-account withdrawal for funeral costs to $20,000
Summary
The House Judiciary Committee unanimously reported House Bill 167 to the floor; the bill would let close relatives withdraw up to $20,000 from a deceased person’s account to pay verified funeral expenses, up from $10,000, taking effect in 60 days.
The House Judiciary Committee on Wednesday unanimously advanced House Bill 167, which would let a financial institution release up to $20,000 to a close family member of a deceased person when the family shows a bill verifying funeral expenses have been paid.
The change would amend Title 20, Section 3101(b) to raise the existing $10,000…
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