1. In case of the death of a conservator, his personal representative shall make settlement with his successor, and deliver the property and money belonging to the protectee whose estate was managed by his decedent to such successor. When the sole purpose of administering the estate of the deceased conservator is to make settlement of the estate of the protectee, the court may waive the appointment of a personal representative for the deceased conservator. In such circumstances, the successor shall file a settlement showing the condition of the estate of the protectee and, upon approval by the court, shall be charged with such assets as are shown therein, provided, however, that such successor shall not be relieved of the duty to account for assets of the protectee not shown on such settlement.

2. If a deceased conservator leaves no estate subject to administration, and letters are issued to his personal representative solely for the purpose of making settlement under this section, the costs and expenses of administration of such administration shall be paid by the estate of the protectee of which the decedent was conservator; and, in the administration proceeding in the estate of the deceased conservator there need be no publication as required by section 473.033.