The
appointment of a substituted administrator shall not be required if the
unadministered assets of the intestate or testator consist of money on deposit
in a bank, trust company or savings and loan association not exceeding
$1,000.00, in which event it shall be lawful for the Superior Court, in an
action brought by any party in interest, to authorize the bank, trust company
or savings and loan association to distribute to the persons entitled by law to
receive the assets. Payments made pursuant to the authority of this section
shall release the bank, trust company or savings and loan association from any
claim of, or liability to, any person interested in the estate.
For
more information, go to http://njwillsprobatelaw.com/3b_10-18.html?id=2249&a=
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