Section 4. An executor or administrator with the will annexed shall be exempt from giving a surety on his bond if the testator has ordered or requested such exemption or that no bond be required, and an executor, administrator or an administrator with the will annexed shall be so exempt if all the persons interested in the estate of full age and legal capacity, other than creditors, certify to the probate court their consent thereto; but not until all creditors of the estate, and the guardian or conservator of any person under disability interested therein, have been notified and have had opportunity to show cause against the same. The probate court may, however, upon or after the granting of letters testamentary or letters of administration require bond, with sufficient sureties, and failure to furnish the same within such time as the court orders shall constitute a declination of or a resignation from the trust.