The bill amends the Wyoming probate code to increase the maximum value for certain estate proceedings from $200,000 to $750,000. This change applies to various sections of the code, including those related to the payment of debts, collection of claims by creditors, and summary procedures for the distribution of property. Specifically, it allows for the distribution of estates valued up to $750,000 without the need for formal probate proceedings, thereby streamlining the process for smaller estates.

Additionally, the bill introduces a new provision regarding disclaimers of property interests. It states that a written irrevocable disclaimer will be effective in terminating and passing an interest in property, even if it does not qualify as a disclaimer for federal or tax purposes, provided that the disclaiming party acknowledges this in writing. The act is set to take effect on July 1, 2025.

Statutes affected:
Introduced: 2-1-201, 2-1-204, 2-1-205, 2-1-403, 2-11-201, 2-11-202