The personal representative has the power to do all of the following:

1. (a) Allow, pay, reject, or contest any claim by or against the estate.
2. (b) Compromise or settle a claim, action, or proceeding by or for the benefit of, or against, the decedent, the personal representative, or the estate.
3. (c) Release, in whole or in part, any claim belonging to the estate to the extent that the claim is uncollectible.
4. (d) Allow a claim to be filed after the expiration of the time for filing the claim.