This document summarizes Rule 74 of the Rules of Court regarding the settlement of estates. It discusses the different sections of Rule 74 which provide for: extrajudicial settlement by agreement between heirs (Section 1); summary settlement of small value estates not exceeding Php10,000 (Section 2); bonds that may be required of distributees (Section 3); liability of distributees and estates (Section 4); and claim periods for minor or incapacitated persons (Section 5). An illustrative case is also provided where the court upheld the denial of a petition for letters of administration, allowing the heirs to partition the estate among themselves per Rule 74.