(a) Except as provided in subsection (b) of this Code section, a personal representative shall furnish to the heirs of an intestate estate or the beneficiaries of a testate estate, at least annually, a statement of receipts and disbursements.
(b) Any heir or beneficiary may waive individually the right to receive a statement of receipts and disbursements in the same manner as provided in subsection (b) of Code Section 53-7-68 for waiving the right to receive a copy of an annual return. The heirs or beneficiaries may authorize the probate court to relieve the personal representative from furnishing statements of receipts and disbursements in the same manner as provided in subsection (c) of Code Section 53-7-68 for relieving the personal representative from filing annual returns. A testator may, by will, dispense with the necessity of the personal representative’s furnishing a statement of receipts and disbursements in the same manner as provided in Code Section 53-7-69 for dispensing with the necessity of the personal representative’s filing an annual return.