15 Guam Code Ann. § 3365
Terms Used In 15 Guam Code Ann. § 3365
- Assets: (1) The property comprising the estate of a deceased person, or (2) the property in a trust account.
- 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.
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15 Guam Code Ann. ESTATES AND PROBATE
CH. 33 ADMINISTRATION OF TRUSTS
The Superior Court may, in its discretion, grant the petition referred to in Section 3359 of this Title and issue an order accepting transfer of place of administration of the trust or trust assets to the territory of Guam, appoint a trustee to administer the trust in the territory of Guam, and require the trustee to post appropriate bond, if necessary, if after hearing it appears to the Superior Court that:
(a) The transfer of the trust assets to a trustee in the territory of Guam, or the transfer of the place of administration to the territory of Guam, will facilitate the economical and convenient administration of the trust and promote the best interests of the trust and those interested therein;
(b) The transfer will not violate the terms of the trust;
(c) The trustee appointed by the Superior Court to administer the trust in the territory of Guam, to whom the trust assets are to be transferred, is qualified, willing, and able to administer the trust or trust assets upon the same trusts; and
(d) The proper court in the other jurisdiction has approved the transfer if such approval is necessary under the law of the other jurisdiction.
SOURCE: California Probate Code, § 1139.16.