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.