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§ 53-7-40. Liability of Estate; Priority of Claims

Unless otherwise provided by law, all property of the estate, both real and personal, shall be liable for the payment of claims against the estate in the following order: Year’s support for the family; Funeral expenses, whether or not the decedent leaves a surviving spouse, in an amount which corresponds with the circumstances of the […]

§ 53-7-41. Notice for Creditors to Render Accounts; Notification of Creditors’ Claims; Requirement of Reasonable Additional Proof or Accounting; Failure of Creditors to Give Notice of Claims

The personal representative shall be allowed six months from the date of the qualification of the first personal representative to serve in which to ascertain the condition of the estate. Every personal representative shall, within 60 days from the date of qualification, publish a notice directed generally to all of the creditors of the estate […]

§ 53-7-42. Time for Payment of Debts; Time for Commencing Action to Recover Debt

The personal representative shall not be required to pay the debts of the estate, wholly or in part, until six months from the date of qualification of the first personal representative to serve. If partial payment shall be made, it shall be pro rata on debts of equal priority, including debts due the personal representative, […]

§ 53-7-44. Satisfaction of Debts

Except as otherwise provided by the will, any debt not due by its terms at the time for payment of debts of equal priority shall be satisfied and the estate shall be discharged with respect to such debt in such manner as the personal representative deems to be in the best interest of the estate […]

§ 53-7-45. Compromise of Claims

Personal representatives are authorized to compromise, adjust, arbitrate, assign, sue or defend, abandon, or otherwise deal with or settle debts or claims in favor of or against the estate. A personal representative who declines to litigate any claim may assign the claim to a creditor or an heir of an intestate estate or a beneficiary […]