The sun. [volume] (New York [N.Y.]) 1833-1916, 1906-05-19
A Boon In the Settlement OF Estates.

- boo ~ tiN>
Governor HIGGINS has just approved
a bill passed at the recent session of the
| Legislature which will greatly facilitate
the amicable settlement of the estates of
deceased persons,
The ordinary method Of settling the
estates of decedents and distributing
their property through the agency Of
the Surrogate's Court or court of pro-
bate is well understood, If there is a
will the work is done by the executor
or the executors named in the instru-
ment. If there is no will the property
goes into the hands Of an administrator
appointed by the court from among the
relatives of the deceased. The executor
or administrator pays the debts and
other charges upon the estate and then
accounts in the Surrogate's Court or
court Of probate, where a decree is
made approving his action and direct
ing a final distribution Of the assets in
accordance with the will, if there be one,
or where there is no will in accordance
with the statute of distributions. All
pNI lIC " tiiS SSiohS I SilNNt
to attend the accounting proceedings,
where they may file objections to any
act of the executor or administrator
which they desire to call in question;
and thereupon the court passes upon the
validity of such objections. The decree
upon the accounting constitutes a judg-
ment binding upon all those who have
been duly cited.
1t often happens, however, that the
persons entitled to share in the estate
of u decedent prefer to adjust its affairs
and divide the property without going
into court; and there is nothing in the
law which prevents this from being
done. After the creditors have been
paid the sole parties entitled TO share in
the estate, if they are all of age, may
lawfully settle it up and divide the prop
erty without the appointment of any
administrator. This course is frequently
pursued and it ought to be regarded
with favor, inasmuch as it tends TO
promote and preserve amicable relations
between the next of kin, and it also re-
lieves the probate courts OF just so much
work. The only practical objection to
it heretofore has been the absence of
any convenient means Of making a per-
manent record in any public office of
the fact that such a private settlement
has been made. The purpose of the
new statute to which we refer is to afford
TO the parties interested in the estate Of
d deceased person a method of placing
on record any agreement of settlement
in which they may unite.
The act provides that where an estate
is settled out of court the agreement of
settlement may be recorded in the office
of the Surrogate-that is to say, formally
copied into books kept for the purpose.
1t also provides for the record in the
same office Of receipts for moneys which
are paid out by executors or sdminis-
traitors in the settlement of the estates
under their charge. As matter of fact,
such receipts have often heretofore been
filed in the S~urrogate's Court; but there
has been no statute authorizing this to
he done. The law also declares that
the record of agreements Of settlement
and receipts shall be evidence in the
%Surrogate's Court, or in any other tri-
bunal. of the fact that such agreements
have been made and such receipts have
been given.
These new statutory provisions, simple
as they are. cannot fail to be helpful in
preserving the proof Of the friendlv