A fairly noteworthy change was brought to the estate planning landscape this year- the “small estate,” which since January 1, 1997, has been defined as an estate of $100,000 or less, has been redefined as an estate of $150,000 or less.  Effective on January 1, 2012, Bill AB 1305, introduced by Assemblywoman Huber, amended certain provisions of the California Probate Code to allow a simplified administration of all estates with real and personal property having a gross value less than $150,000.  The bill also authorizes real property with a gross value less than $50,000 to be transferred by an affidavit procedure, which was raised up from the previous level of $20,000, and authorizes a surviving spouse to collect unpaid salary or other compensation of $15,000, which was raised up from the previous level of $5,000. (more…)