The bill H. 3472 proposes amendments to the South Carolina Code of Laws regarding the handling of small estates. Specifically, it seeks to increase the limit for an estate that can be processed under simplified procedures from twenty-five thousand dollars to fifty thousand dollars. This change is reflected in the amendments to Sections 62-3-1201, 62-3-1203, and 62-3-1204, which outline the conditions under which personal property can be collected by affidavit, the disbursement of small estates, and the closing of estates administered under summary procedures.

The amendments will allow personal representatives to distribute estates valued at up to fifty thousand dollars without the need for extensive notice to creditors, streamlining the process for settling smaller estates. Additionally, the bill stipulates that personal representatives can close an estate by filing a verified statement with the court, confirming that the estate's value does not exceed the new limit and that all necessary distributions have been made. The bill will take effect upon approval by the Governor.

Statutes affected:
12/05/2024: 62-3-1201, 62-3-1203, 62-3-1204
02/12/2025: 62-3-1201, 62-3-1203, 62-3-1204
02/13/2025: 62-3-1201, 62-3-1203, 62-3-1204
04/16/2025: 62-3-1201, 62-3-1203, 62-3-1204
Latest Version: 62-3-1201, 62-3-1203, 62-3-1204