Bill: SB 1792, 84(R) - 2015

Committee

Senate State Affairs

Vote Recommendation

Vote Recommendation Economic Freedom Property Rights Personal Responsibility Limited Government Individual Liberty
Yes Neutral Positive Positive Neutral Neutral

Author(s)

Rodney Ellis

Bill Caption

Relating to access to a financial institution account of a person who dies intestate.

Fiscal Notes

No significant fiscal implication to the State or local government.

Bill Analysis

SB 1792 would allow courts to order access to the financial institution account of a person who dies intestate, if 90 days have elapsed since death, no petition for appointment of a personal representative for the estate is pending, and no letters testamentary or of administration have been granted concerning the estate. A financial institution would also be authorized to release to the heir the balance of the account after 90 days have elapsed and upon presentation of a death certificate. 

Vote Recommendation Notes

Intestate occurs when a person dies owning property whose value is greater than the sum of their enforceable debts and funeral expenses without having made a valid will or declaration.  When a estate totals no more than $50,000, a small estate affidavit is less costly to probate the estate rather than traditional estate administration. In order to use a small estate affidavit, there must be proof the accounts exceed known liabilities. Families who lack access to this information would have to use the more costly method of probating the estate. SB 1792 would allow families access and positively affirms the principles of personal responsibility and property rights, therefore we support this legislation.

Source URL (retrieved on 03/29/2024 05:03 AM): http://reports.texasaction.com/bill/84r/sb1792?print_view=true