2025
Developments in Trust & Estate Law
New Laws from the 2024 Legislative Cycle
New Fiduciaries and Small Estate Asset Limits
This year, the legislature created fiduciary duties for residential landlords and expanded the small estate asset limit.
AB 2016 Proposes to Expand California’s Small Estate Asset Limit to Just Shy of $1 Million
Starting in mid-2025, AB 2016 will raise the state’s threshold amount for a “small estate” to just under $1 million — and could lead to more laypersons foregoing the assistance of attorneys during the Probate Code section 13151 petition process.
New Obligations for California Fiduciaries Under AB 2747
AB 2747, which may impose a duty on landlords to report positive rental payment information to at least one nationwide consumer reporting agency. Assembly Bill 2747 adds Civil Code section 1954.07 effective January 1, 2025. It requires landlords to offer to report their tenants’ positive rental payments to at least one consumer reporting agency.