(A) When a will is contested, the executor, the administrator de bonis non, with the will annexed, or the testamentary trustee may, during the contest, do the following:
(1) Control all the real property and all the personal property of the testator not administered before the contest;
(2) Collect the debts and convert all assets into money, except those that are specially bequeathed;
(3) Pay all taxes on the real and personal property and all debts;
(4) Repair buildings and make other improvements if necessary to preserve the real property from waste;
(5) Insure those buildings upon an order first obtained from the probate court having jurisdiction of the executor, administrator, or testamentary trustee;
(6) Advance or borrow money on the credit of the estate for the repairs, taxes, and insurance that shall be a charge on the estate;
(7) Receive and receipt for a distributive share of an estate or trust to which the testator would have been entitled, if living.
(B) The court may require additional bonds that from time to time seem proper.
Amended by 129th General AssemblyFile No.52, SB 124, §1, eff. 1/13/2012.
Effective Date: 10-01-1953