Assignment out of sale proceeds

If real estate is so situated that homestead cannot be set apart, as provided in this part, then the realty must be sold and thirty-five thousand dollars ($35,000) of the proceeds invested in real estate, under the direction of the court having jurisdiction to be held as homestead subject to the law governing homestead, or if the court deems it more desirable and practical, then the court may order the payment of thirty-five thousand dollars ($35,000) in cash or other personal property outright and in fee to the surviving spouse, if any, otherwise to a minor child or a child who is eighteen (18) years of age or older and has a developmental disability or intellectual disability, if any, in lieu of all other homestead rights in the realty of the deceased. Subject to § 529A of the Internal Revenue Code of 1986 (26 U.S.C. § 529A), as amended and all rules, regulations, notices, and interpretations released by the United States department of treasury, including the internal revenue service, and applicable laws and rules of this state relative to the achieving a better life experience act, some or all of the thirty-five thousand dollar ($35,000) cash payment up to the achieving a better life experience program annual contribution limit, made to a minor child or a child eighteen (18) years of age or older meeting the qualifications to participate in the achieving a better life experience program, may be deposited into the child's achieving a better life experience program account by the child or someone on behalf of the child, including, but not limited to, a court order requiring the cash deposit into the child's achieving a better life experience program account.