Modifies calculations of the fair market value of simple estate assets by excluding the values of manufactured homes from the asset limits for personal property and including the values of manufactured homes in the assets limits for real property.Digest: The Act changes how to calculate the fair market values of assets for some estates. (Flesch Readability Score: 67.5).
[Digest: The Act expands the list of estates that can use the simple estate process and changes how the values of those estates are added up. The Act also keeps the current probate filing fees for the new type of simple estates. (Flesch Readability Score: 70.4).]
[Expands the types of estates that may use the simple estate process to administer a decedent's estate. Modifies the calculation of fair market values of assets and retains application of the current probate filing fees for the new type of simple estates. Directs the State Court Administrator to adjust asset value limitations for the new type of simple estates annually for inflation.]
Modifies calculations of the fair market value of simple estate assets by excluding the values of manufactured homes from the asset limits for personal property and including the values of manufactured homes in the assets limits for real property.
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