Recent Changes to PEF Code – Small Estates
The Governor signed a new piece of legislation amending the Probate, Estates and Fiduciaries (PEF) Code on July 1, 2013. See the statute Small Est 50K.pdf.
The new statute amends §3101 of the PEF Code allowing a bank, or other financial institution, to pay up to $10,000 directly to a spouse, child, father, mother, sister or brother who presents a receipted funeral bill. The old law capped this payment at $3,500.
For a decedent who was a recipient of Medical Assistance, the amount that can be paid directly from the Patient’s Care Account at the facility to a funeral home is now $10,000, also up from $3,500. The balance can be paid to the spouse, any child, father or mother or any sister or brother.
Section 3102 is amended to permit the settlement of small estates on petition up to a gross value not exceeding $50,000. This limit was previously $25,000.