New Jersey § 3a:25-8

§ 3a:25-8.

When it appears, upon allowance of the final or intermediate account of an administrator

that the balance available for distribution is composed in whole or in part of bonds,

mortgages, shares of stock, loans on personal security or other security which came

to him as investments of his intestate, and a minor or mental incompetent is entitled

to the balance, or to share therein, the court where he is accountable, may in an

action by the administrator direct the sale or conversion of the securities or direct

their distribution in kind or authorize the guardian to accept such portion thereof

as would be equal in money to the amount of his ward's distributive share of the whole

balance. The guardian, if any there be, may join in the action and ask direction as to the

acceptance thereof. An administrator distributing in kind or a guardian accepting distribution in kind

pursuant to a judgment hereunder, shall be as fully exonerated and acquitted as if

the balance had been distributed in money and the same were invested according to

law and a guardian shall not be accountable for any loss by reason of accepting such

distribution.