The Court of Probate shall cause a notice of the alleged insolvency of an estate, of the right of interested persons to be heard relative to the representation of insolvency, and of the time, date and place of hearing, to be (1) published in a newspaper having a general circulation in the probate district, and (2) given to such interested persons as the court may direct. After hearing, the court shall determine whether such estate shall be declared insolvent and shall send a copy of the decree to all persons in interest.