Illinois Code § 755 ILCS 5/19-8

Compounding, compromising or exchanging personal estate.) By leave of
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court without notice or upon such notice as the court directs, a representative
may compound or
compromise any claim or any interest of the ward or the decedent in any
personal estate or exchange
any claim or any interest in personal estate for other claims or personal
estate upon such terms
as the court directs.

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