New Jersey § 3a:6-16

§ 3a:6-16.

a. A guardian of the estate of a minor or mentally incompetent person has all of the

powers conferred upon him by law and the terms of this act and all powers conferred

by law on trustees. b. The court has, for the benefit of the ward, his dependents and members of his household,

all the powers over his estate and affairs which he could exercise, if present and

not under a disability, except the power to make a will, and may confer such powers

upon a guardian of his estate. These powers include, but are not limited to power to convey or release the ward's

present and contingent and expectant interests in real and personal property, including

dower and curtesy and any right of survivorship incident to joint tenancy or tenancy

by the entirety, to exercise or release his powers as trustee, personal representative,

custodian for minors, guardian, or donee of a power of appointment, to enter into

contracts, to create revocable or irrevocable trusts of property of the estate which

may extend beyond his disability or life, to exercise his options to purchase securities

or other property, to exercise his rights to elect options and change beneficiaries

under insurance annuity policies and to surrender the policies for their cash value,

to exercise his right to an elective share in the estate of his deceased spouse to

the extent permitted by law and to renounce any interest by testate or intestate succession

or by inter vivos transfer. c. The court may exercise, or direct the exercise of, or release the powers of appointment

of which the ward is donee, to renounce interests, to make gifts in trust or otherwise,

or to change beneficiaries under insurance and annuity policies, only if satisfied,

after notice and hearing, that it is in the best interests of the ward.