All contracts for support for life shall be approved by the Probate Court in the county in which the support for life is to be rendered. The Probate Court shall grant approval after such reasonable notice as the court shall determine to be appropriate, if the court shall find, after hearing, that the contract is just and equitable under all of the circumstances. [PL 1969, c. 434 (NEW).] A contract or agreement for support for life without such Probate Court approval shall not be received in evidence unless the person offering the contract or agreement shall establish by a preponderance of the evidence that the contract or agreement is just and equitable under all of the circumstances. [PL 1969, c. 434 (NEW).] This section shall not apply to such contracts or agreements between persons related within the 3rd degree. [PL 1969, c. 434 (NEW).]
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