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Senate adopts amendment to raise probate transfer threshold to $100,000 and remove indexing
Summary
Senators approved Amendment No.1 to Senate Bill 24, eliminating inflation indexing for the probate transfer threshold and raising the nonprobate transfer amount to $100,000 to give predictability to banks and others; SB24 as amended passed the Senate unanimously and moves to the House.
Senate Bill 24 was uncircled and amended on the Senate floor to simplify probate-affidavit procedures and raise the nonprobate transfer threshold.
Senator Romero explained the amendment as a response to concerns from the president and members of the bar about how indexing the threshold for inflation would create uncertainty for banks, credit unions and title companies. "It eliminates the indexing option, but it also, raises the amount whereby we could transfer the estate to a hundred thousand," Romero said, adding that placing a fixed dollar figure in the statute creates predictability and avoids requiring nonlawyers to call the Administrative Office of the Courts to determine the current threshold.
Senators who spoke in favor said the change reduces the burden on laypersons presenting affidavits to institutions that do not practice law and that future statutory changes could adjust the amount if necessary. The Senate adopted the amendment and, on final roll call, reported SB24 had received 29 yes votes, 0 nay and 0 absent; the bill was sent to the House for further consideration.
Why it matters: raising the threshold and removing indexing is intended to make small estate transfers more predictable for nonlawyers and institutions that accept affidavit transfers without probate.
What’s next: SB24 as amended proceeds to the House where it will receive further committee and fiscal consideration as appropriate.
