N.J.S.A. 3B:22-2 — Order of priority of claims when assets insufficient.

3B:22-2 Order of priority of claims when assets insufficient. 3B:22-2. If the applicable assets of the estate are insufficient to pay all claims in full, the personal representative shall make payment in the following order: a. Reasonable funeral expenses; b. Costs and expenses of administration; c. Debts for the reasonable value of services rendered to the decedent by the Office of the Public Guardian for Elderly Adults; d. Debts and taxes with preference under federal law or the laws of this State; e. Reasonable medical and hospital expenses of the last illness of the decedent, including compensation of persons attending him; f. Judgments entered against the decedent according to the priorities of their entries respectively; g. All other claims. No preference shall be given in the payment of any claim over any other claim of the same class, and a claim due and payable shall not be entitled to a preference over claims not due. The commencement of an action against the personal representative for the recovery of a debt or claim or the entry of a judgment thereon against the personal representative shall not entitle such debt or claim to preference over others of the same class. Amended 1989, c.248, s.8; 2004, c.132, s.82; 2005, c.304, s.47.

This is the verbatim text of N.J.S.A. 3B:22-2, retrieved from the New Jersey Legislature's public statute corpus. Statutes are amended periodically — for the most current version, check the external source link above. Kyzer is not a law firm and this page is not legal advice.