When minor children inherit real or personal estate as the representatives of a deceased parent, or take the same by will, and the living parent of the children as guardian has the custody of their persons and estates, if the Probate Division of the Superior Court directs, the guardian shall furnish a bond to respond and pay the principal of the estate only. The income of the estate shall be expended at the discretion of the guardian for the benefit of the children without account to the court. When a person other than a parent of the children is their guardian and has the custody of their estates only, the court, from time to time, may order and direct the guardian to pay over to the parent of the children the part of the income of their estates, to be expended for their benefit as to the court seems just, in view of the relative value of the estate of the parent and the children. (Amended 1985, No. 144 (Adj. Sess.), § 130; 2009, No. 154 (Adj. Sess.), § 238a, eff. Feb. 1, 2011.)