Guam § 3305 - Additional Powers of Trustee.

§ 3305. Additional Powers of Trustee.

(a) On petition of the trustee, made at any time, or on petition of the personal representative included

in a petition for preliminary or final distribution, where after hearing it appears to be necessary or desirable

in order to carry out the purposes of a testamentary trust that the trustee be given powers not expressly

contained in the will or otherwise conferred by law, the Superior Court may in its discretion confer upon

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the trustee any or all of the following powers when it appears to the Superior Court that such powers are

not inconsistent with the provisions or purposes of the trust; such powers conferred may be of a continuing

nature or may be exercised only in specific instances, as the Superior Court may determine:

(1) To manage, control, sell, convey, divide, and to sell upon deferred payments.

(2) To lease for terms within or extending beyond the duration of the trust for any purpose.

(3) To retain property, including stock of the trustee, and invest or reinvest as provided by law

from time to time existing, including investments in any common trust fund now or hereafter

established by the trustee.

(4) To borrow; to place, replace, renew or extend any encumbrance upon trust property.

(5) To participate in voting trusts, pooling agreements, foreclosures, reorganizations,

consolidations, mergers and liquidations in connection therewith, to deposit securities with and transfer

title and delegate discretion to any protective or other committee as the trustee may deem advisable.

(6) To acquire or dispose of an asset, for cash or on credit, at public or private sale; and to

exchange, partition, change the character of, or abandon a trust asset or any interest therein.

(7) To make ordinary or extraordinary repairs or alterations in buildings or other trust property,

to demolish any improvements, to raze existing or erect new party walls or buildings.

(8) To subdivide, develop or dedicate land to public use; or to make or obtain the vacation of plats

and adjust boundaries; or to adjust differences in valuation on exchange or partition by giving or

receiving consideration; or to dedicate easements to public use without consideration.

(9) To grant an option involving disposition of a trust asset, or to take an option for the acquisition

of any asset.

(10) To vote a security, in person or by general or limited proxy.

(11) To pay calls, assessments, and any other sums chargeable or accruing against or on account

of securities.

(12) To sell or exercise stock subscription or conversion rights.

(13) To hold a security in the name of a nominee or other form without disclosure of the trust, so

that title to the security may pass by delivery, but the trustee is liable for any act of the nominee in

connection with the security so held.

(14) To insure the assets of the trust against damage or loss, and the trustee against liability with

respect to third persons.

(15) To advance money for the protection of the trust, and for all expenses, losses, and liabilities

sustained in the administration of the trust or because of the holding or ownership of any trust assets,

for which advances with any interest the trustee has a lien on the trust assets as against the beneficiary.

(16) To pay or contest any claim; to settle a claim by or against the trust by compromise,

arbitration, or otherwise, and to release, in whole or in part, any claim belonging to the trust the extent

that the claim is uncollectible; to institute, compromise and defend actions and proceedings.

(17) To pay taxes, assessments, compensation of the trustee, and other expenses incurred in the

collection, care, administration, and protection of the trust.

(18) To continue or participate in any business or other enterprise and to effect incorporation,

dissolution, or other change in the form of organization of the business or enterprise.

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(19) To exercise any other power or powers which to the Superior Court appear necessary or

desirable.

(b) Except as specifically provided in the will, the provisions of this Section apply to any will executed

before or after the effective date of this Section and to any trust asset acquired by the trustee of the trust

created by such will, before or after the effective date of this Section.

(c) If any provisions of this Section or the application thereof to any person, property or circumstances

is held invalid, the invalidity does not affect other provisions or applications of this Section which can be

given effect without the invalid provision or application, and to this end the provisions of this Section are

severable.