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A BILL TO BE ENTITLED
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AN ACT
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relating to the allowance in lieu of exempt property in the |
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administration of a decedent's estate. |
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BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF TEXAS: |
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ARTICLE 1. CHANGES TO TEXAS PROBATE CODE |
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SECTION 1.01. Section 273, Texas Probate Code, is amended |
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to read as follows: |
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Sec. 273. ALLOWANCE IN LIEU OF EXEMPT PROPERTY. In case |
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there should not be among the effects of the deceased all or any of |
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the specific articles exempted from execution or forced sale by the |
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Constitution and laws of this state, the court shall make a |
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reasonable allowance in lieu thereof, to be paid to such surviving |
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spouse and children, or such of them as there are, as hereinafter |
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provided. The allowance in lieu of a homestead shall in no case |
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exceed $45,000 [$15,000] and the allowance for other exempted |
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property shall in no case exceed $30,000 [$5,000], exclusive of the |
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allowance for the support of the surviving spouse, minor children, |
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and adult incapacitated children which is hereinafter provided for. |
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SECTION 1.02. The changes in law made by this article to |
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Section 273, Texas Probate Code, apply only to the estate of a |
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decedent who dies on or after the effective date of this Act. The |
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estate of a decedent who dies before the effective date of this Act |
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is governed by the law in effect on the date of the decedent's |
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death, and the former law is continued in effect for that purpose. |
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ARTICLE 2. CHANGES TO ESTATES CODE |
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SECTION 2.01. Section 353.053(b), Estates Code, as |
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effective January 1, 2014, is amended to read as follows: |
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(b) The allowance in lieu of a homestead may not exceed |
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$45,000 [$15,000], and the allowance in lieu of other exempt |
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property may not exceed $30,000 [$5,000], excluding the family |
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allowance for the support of the surviving spouse, minor children, |
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and adult incapacitated children provided by Subchapter C. |
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SECTION 2.02. Section 273, Texas Probate Code, as amended |
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by Article 1 of this Act, is repealed. |
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SECTION 2.03. This article takes effect January 1, 2014. |
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ARTICLE 3. EFFECTIVE DATE |
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SECTION 3.01. Except as otherwise provided by this Act, |
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this Act takes effect September 1, 2013. |