15 Guam Code Ann. § 3343
Terms Used In 15 Guam Code Ann. § 3343
- Assets: (1) The property comprising the estate of a deceased person, or (2) the property in a trust account.
- Beneficiary: A person who is entitled to receive the benefits or proceeds of a will, trust, insurance policy, retirement plan, annuity, or other contract. Source: OCC
- Decedent: A deceased person.
- Jurisdiction: (1) The legal authority of a court to hear and decide a case. Concurrent jurisdiction exists when two courts have simultaneous responsibility for the same case. (2) The geographic area over which the court has authority to decide cases.
- Probate: Proving a will
- Trustee: A person or institution holding and administering property in trust.
(a) where, under the provisions of Section 3301 of this Title, jurisdiction is retained by the Superior Court over any trust created by the will of a non-resident decedent, which will has been probated in the State or United States territory of such decedent’s residence
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15 Guam Code Ann. ESTATES AND PROBATE
CH. 33 ADMINISTRATION OF TRUSTS
and a duly appointed, qualified and acting domiciliary trustee has entered upon and is engaged in the administration of the same trust with respect to the assets situated in that State or United States territory; or
(b) where the trustee or beneficiary of a trust to which this Article applies desires to transfer the place of administration of a trust to a State or another United States territory, unless the trust instrument precludes the transfer of the place of administration to any jurisdiction outside the territory of Guam.
SOURCE: California Probate Code, § 1139.1.