1. Except in cases mentioned in subsection 2, the court, upon the death of any protectee, may order that no letters of administration shall be granted upon his estate, but the funeral and burial expenses and estate taxes for which the estate of the deceased protectee is liable, and obligations of the protectee incurred by the conservator, as well as expenses of administration, may be paid out of the estate by the conservator on order of the court and after the final settlement of the conservator is approved, and upon a showing that all obligations of the estate which have been authorized by the court have been paid, the court shall order the conservator to make distribution to the heirs in the same manner and with the same effect as in the case of an administrator. In such case the conservator is subject in all respects and to the same extent to the liabilities of an administrator and liability on the conservator’s bond continues and applies to the complete administration of the estate of the deceased protectee, including settlements as required by section 473.540.

2. Whenever a protectee dies leaving debts, other than those payable by the conservator under subsection 1 hereof, for which his estate would be liable in an action, or whenever a protectee dies, leaving a will valid under the law respecting wills, letters testamentary or of administration shall be granted on the estate of the deceased protectee, in the manner provided by law, as in case of other testators or intestates.