An Act amending Title 20 (Decedents, Estates and Fiduciaries) of the Pennsylvania Consolidated Statutes, in intestate succession, further providing for shares of others than surviving spouse; and, in dispositions independent of letters, family exemption, probate of wills and grant of letters, further providing for payments to family and funeral directors.
What changed between versions
Increased the maximum amount of funds in a bank account that can be immediately paid to family members without court intervention from $10,000 to $20,000.
Raised the threshold for unclaimed property held by the State Treasurer that can be distributed to family members from $11,000 to $20,000.
Added siblings as eligible recipients for immediate payment of bank deposits and unclaimed property, alongside spouses, children, and parents.
Created a new eligibility category for estates to pass to an 'Endowed Community Fund' if no surviving relatives exist.
Added a new requirement that any Endowed Community Fund receiving an estate must be subject to an annual independent financial audit.
Updated the definition of 'Endowed Community Fund' to explicitly include the annual audit requirement.
Adjusted the effective date for the amendment of Section 3101(e)(1)(i) (unclaimed property) from 60 days to 180 days.