Personal Representative May Seek Guidance From Court on

Investment, etc., of Estate Funds; Petition; Procedure. Notwithstanding the provisions of Sections 2217 and 2219 of this Title, the Superior Court of Guam on the petition of the personal representative may from time to time instruct and direct the personal representative as to the administration of the estate and the disposition, management, operation, investment, care, protection or preservation of the estate or any property thereof. The Clerk of the Superior Court of Guam shall set such petition for hearing, and notice thereof shall be given in the manner provided in Section 3401 of this Title. SOURCE: California Probate Code, § 588; Guam Law Revision Commission. COMMENT: The California Probate Code contains a number of provisions touching the personal representative's powers to invest the estate's property, give options, pick up options, etc., which the Commission does not feel are appropriate or necessary in Guam. Under §§ 2217 and 2219, supra, the personal representative may deposit estate funds in a bank or savings and loan association (§ 2217), or invest estate funds in United States securities (§ 2219); the Commission feels that these options should be sufficient in the great majority of cases. Section 2221 merely gives the personal representative the flexibility to petition the Superior Court for further guidance and direction as to what might be done with the estate's property. The Superior Court of Guam, in its role as the overseer of all estates, retains the power to approve or deny any such plan of the personal representative, while maintaining firm control over the estate and its property.