Bill > SB2850

This bill amends several sections of the Mississippi Code of 1972 to allow for a will to be admitted to probate as a "muniment of title" without the necessity of formal administration, and to revise the threshold for payment of personal property upon an affidavit of succession. Key provisions include: - Applying the state's inheritance laws to property of decedents domiciled in Mississippi and non-residents' real property in the state. - Allowing a will to be admitted to probate as a "muniment of title" (i.e., as evidence of ownership) without formal administration, if the decedent's probate estate does not exceed $75,000 (up from $50,000) and all known debts have been paid. - Revising the requirements for who must sign the petition to admit a will as a muniment of title. - Allowing a representative to sign on behalf of the decedent's spouse or beneficiaries under certain circumstances. - Clarifying the probate process for wills that dispose of only real property in Mississippi, rather than personal property. - Updating the rules for allocation of income and principal from the sale of timber from a trust. The bill aims to simplify the probate process for small estates in Mississippi.

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http://billstatus.ls.state.ms.us/2020/pdf/history/SB/SB2850.xml