§560:3-906  Distribution in kind;
valuation; method.  (a)  Unless a contrary intention is indicated by the
will, the distributable assets of a decedent's estate shall be distributed in
kind to the extent possible through application of the following provisions:



(1)  A specific devisee is entitled to distribution of
the thing devised to that person, and a spouse, reciprocal beneficiary, or
child who has selected particular assets of an estate as provided in section
560:2-402 shall receive the items selected;



(2)  Any homestead or family allowance or devise of a
stated sum of money may be satisfied in kind provided:



(A)  The person entitled to the payment has not
demanded payment in cash;



(B)  The property distributed in kind is valued
at fair market value as of the date of its distribution; and



(C)  No residuary devisee has requested that
the asset in question remain a part of the residue of the estate;



(3)  For the purpose of valuation under paragraph (2)
securities regularly traded on recognized exchanges, if distributed in kind,
are valued at the price for the last sale of like securities traded on the
business day prior to distribution, or if there was no sale on that day, at the
median between amounts bid and offered at the close of that day.  Assets consisting
of sums owed the decedent or the estate by solvent debtors as to which there is
no known dispute or defense are valued at the sum due with accrued interest or
discounted to the date of distribution.  For assets which do not have readily
ascertainable values, a valuation as of a date not more than thirty days prior
to the date of distribution, if otherwise reasonable, controls.  For purposes
of facilitating distribution, the personal representative may ascertain the
value of the assets as of the time of the proposed distribution in any
reasonable way, including the employment of qualified appraisers, even if the
assets may have been previously appraised;



(4)  The residuary estate shall be distributed in any
equitable manner.



(b)  After the probable charges against the
estate are known, the personal representative may mail or deliver a proposal
for distribution to all persons who have a right to object to the proposed
distribution.  The right of any distributee to object to the proposed
distribution on the basis of the kind or value of asset the distributee is to
receive, if not waived earlier in writing, terminates if the distributee fails
to object in writing received by the personal representative within thirty days
after mailing or delivery of the proposal. [L 1996, c 288, pt of §1; am L 1997,
c 383, §19]