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Terms Used In 18 Guam Code Ann. § 66402

  • Executor: A male person named in a will to carry out the decedent
  • Probate: Proving a will
  • Trustee: A person or institution holding and administering property in trust.
Except as provided in 15 Guam Code Ann. ‘3313, when a declaration of trust is silent upon the subject of compensation the trustee is entitled to the same compensation as an executor. If it specifies the amount of his compensation, he is entitled to the amount thus specified and no more. If it directs that he shall be allowed a compensation, but does not specify the rate or amount, he is entitled to such compensation as may be reasonable under the cir- cumstances. If there are two (2) or more trustees the compensation shall be

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18 Guam Code Ann. BUSINESS STRUCTURE & FUNCTION
CH. 66 TRUSTS FOR THE BENEFIT OF THIRD PERSONS

apportioned among the trustees according to the services rendered by them respectively.

SOURCE: CC § 2274.

NOTE: The former Guam Probate Code contained no ‘1122. However, the California
‘1122, to which the section obviously referred, was added to the new Probate law, 15
GCA, as ‘3313, in its form as California had amended it well after the adoption of this section by either Guam or California. The amended section does relate to compensa- tion of trustees, but the Compiler has no idea of what was contained in the original California ‘1122.