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Session Laws, 1971
Volume 707, Page 1733   View pdf image
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Marvin Mandel, Governor                        1733

satisfied during the decedent's lifetime or during the administra-
tion of the estate;

(v) Make partial distributions, in cash, in kind, or both, from
time to time during the administration;

(w) Agree to deposit any of the assets of the estate with any
financial institution in such a manner that the assets cannot be
withdrawn or transferred without (1) the written consent of the
surety on the bond or (2) an order of court [.];

(x) Invest in, sell, mortgage, exchange or lease any property;
borrow money for the purpose of protecting property and pledge
property as security for such loan; and extend or renew any obli-
gation owing by or to the estate;

(y) To designate himself on any document as an executor, if
the decedent died testate, or as an administrator, if the decedent
died intestate.

7-501.

The personal representative shall give written notice to all inter-
ested persons of the filing with the court of every inventory and
account except to all the extent otherwise provided by the court for
good cause shown. All exceptions to an account must be filed with
the register within thirty days of the court's approval of the ac-
count. No exceptions may be filed as to any item which has become
final and binding under Section 7-502. Copies of all exceptions shall
be mailed by the exceptant to the personal representative.

7-502.

The personal representative shall give written notice to each credi-
tor who has filed a claim under Section 8-104 which is still open and
to all interested persons of any claim, petition or other request
which could result, directly or indirectly, in the payment of a debt,
commission, fee, or other compensation to, or for the benefit of,
the personal representative or the attorney for the estate. The notice
shall set forth in reasonable detail the amount [to be] requested
[and], the basis therefor, and the action taken by the court thereon.
Unless a request for a hearing thereon is filed within 20 days of
the sending of the notice, any action taken by the court in connec-
tion therewith shall be final and binding on all persons to whom
the notice was given unless there was fraud, material mistake or
substantial irregularity in the proceeding. Where all interested per-
sons and each creditor who has filed a claim under Section 8-104
which is still open and unpaid have consented in writing to the
amount of the payment requested, no certification by independent
counsel as to the reasonableness of the amount of the payment shall
be required.

8-102.

Unless a contrary intent is expressly indicated in the will, no
claim which was barred by any statute of limitations at the time
of the decedent's death shall be allowed or paid. Subject to Section
8-103 (a), any period of limitations which would terminate, except
for the decedent's death, during the period from the decedent's death

 

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Session Laws, 1971
Volume 707, Page 1733   View pdf image
 Jump to  
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