New Jersey Statutes Appendix - Former Title 3A Administration of Estates Decedents and Others 3A § 24-8

Where the assets of an estate exceed the amount needed to pay claims presented within the time limited pursuant to section 3A:24-3 of this title, a claimant, who has failed to present his claim within the time so limited, may present the claim, in the form required by that section, to the executor or administrator at any time before the remaining assets of the estate shall have been distributed or paid over pursuant to law.

Thereupon, the executor or administrator shall, if satisfied that the claim is correct and should be paid, pay the same or so much thereof as the amount of the assets available for distribution will permit. If not satisfied with the correctness thereof, the executor or administrator shall notify the claimant, his agent or attorney, to proceed forthwith to establish the disputed claim, or part thereof, by judgment. In such case the executor or administrator shall retain from the assets available for distribution a sum sufficient to pay the amount of the claim, together with interest and costs, until such time as the claimant shall have had an opportunity to establish his claim by judgment.