§ 33-14-13. Reopening of estates and administrations without court approval for assets totaling five thousand dollars ($5,000) or less. (a) Subsequent to the filing of a final account of any estate or administration or an affidavit of completed administration pursuant to the provisions of § 33-14-1, an estate or administration may be reopened by the executor or administrator without the consent of the probate court provided that the executor or administrator:

(1) Files an affidavit with the court listing every newly discovered asset discovered by the executor or administrator along with its fair market value;

(2) Provides notice to the persons who would take under the provisions of § 33-1-10 in the case of intestacy listing the asset(s) along with the fair market value;

(3) Provides notice, if applicable, to those persons who would take under the provisions of the will listing the asset(s) along with the fair market value; and

(4) Files a statement with the court and provides a copy to those persons described in subsections (a)(2) and (a)(3) setting forth the proposed distribution of the asset(s) or the funds received as a result of the sale of the asset(s).

(b) If no objection is filed by said persons within thirty (30) days of the filing of the affidavit and statement, the executor or administrator may proceed to dispose of the asset(s) as indicated. If objection is filed, the probate court shall schedule a hearing on the objection within thirty (30) days of its receipt.

(c) Upon completion of the distribution of the asset(s) per the statement or per any order of the probate court, the executor or administrator shall file an affidavit stating the names and the addresses of the persons receiving the asset(s), the value or amount received, and attesting that the estate or administration has now been finalized.

(d) The procedure set forth in subsection (a) may only be used when the asset(s) subsequently discovered do not exceed the sum of five thousand dollars ($5,000) in the aggregate.

(e) The executor or administrator shall be liable in his or her own wrong to all persons aggrieved by his or her actions taken in conformance with the provisions of this section.

History of Section. (P.L. 2014, ch. 348, § 1; P.L. 2014, ch. 385, § 1.)