1. Applicability of statutes of limitations; waiver. Unless an estate is insolvent, the personal representative, with the consent of all successors whose interests would be affected, may waive any defense of limitations available to the estate. If the defense is not waived, no claim barred by a statute of limitations at the time of the decedent‘s death may be allowed or paid.

2. Suspension for 4 months after death. The running of any statute of limitations measured from some other event than death or the giving of notice to creditors is suspended for 4 months after the decedent’s death, but resumes thereafter as to claims not barred by other laws.

3. Commencement of action by presentation of claim. For purposes of any statute of limitations, the presentation of a claim pursuant to section 3-804 is equivalent to commencement of a proceeding on the claim.