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Terms Used In 15 Guam Code Ann. § 727

  • Annuity: A periodic (usually annual) payment of a fixed sum of money for either the life of the recipient or for a fixed number of years. A series of payments under a contract from an insurance company, a trust company, or an individual. Annuity payments are made at regular intervals over a period of more than one full year.
  • Bequeath: To gift property by will.
  • Bequest: Property gifted by will.
  • Probate: Proving a will
  • Testator: A male person who leaves a will at death.
A testator may bequeath securities, money, life or endowment policies, and annuity contracts, as such terms are defined or used in the Guam Uniform Gifts to Minors Act (Article IV (commencing with

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15 Guam Code Ann. ESTATES AND PROBATE
CH. 7 TESTAMENTARY ADDITIONS

Section 1154) of Chapter III of Title IV of Part IV of Division Second of the Civil Code of Guam), to a person who is a minor as provided in this Article.

SOURCE: California Probate Code, § 186.

§ 729. Bequest to Custodian; Applicability of Uniform Gifts to
Minors Act.

If a testator provides in his will that a bequest shall be paid or delivered to a custodian subject to the Guam Uniform Gifts to Minors Act, then, all of the provisions of that Act including, but not limited to, the provisions of such Act as to definitions and the respective powers, rights and immunities therein contained, shall be applicable to such bequest, during the period prior to distribution of the property.

SOURCE: California Probate Code, § 186.1.

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