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 to qualify for simplified administrative procedures from $25,000 to $50,000. This change is reflected in three sections: Section 62-3-1201, which pertains to the collection of personal property by affidavit; Section 62-3-1203, which addresses small estates and summary administrative procedures; and Section 62-3-1204, which involves closing estates by sworn statement of the personal representative.

The amendments will allow for a more streamlined process for the distribution of estates that fall under the new $50,000 threshold, thereby reducing the administrative burden on personal representatives and expediting the transfer of assets to heirs or beneficiaries. The bill is set to 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
Latest Version: 62-3-1201, 62-3-1203, 62-3-1204