Upon the filing of a petition, such notice of the time and place of hearing thereon shall be given as the court shall direct; and after a hearing on the petition, the court may enter a decree granting a discharge, if it deems it proper, and thereafter the executor, administrator or guardian shall be relieved from all liability for the money, stock certificate, bond or other chose in action, and interest thereon. All costs and expenses on the petition, including expenses and counsel fees of the executor, administrator or guardian, as allowed by the court, shall be paid or retained out of the money or be a lien on any stock or chose in action and any dividend or interest payable thereon. When any person entitled to money, stock or chose in action shall appear and satisfy the court as to his or her right thereto, the same with the accumulations thereof, after deducting the expenses and counsel fees, shall be paid or delivered to him or her as the court shall direct.