Chapter 43

COL12010615GCA ESTATES AND PROBATE CH.43INVENTORY AND ACCOUNTING 1CHAPTER 43 INVENTOR Y AND ACCOUNTING § 4301. Original Inventory and Appraisement. § 4302. Failure to File Inventory . § 4303. Citation of Persons Embezzling Property of W ard. § 4304. Annual Account. § 4305. Notice to Attorney General. § 4306. Jurisdiction o f Court After T ermination of Rela tion. § 4307. Expenses and Compensation of Guardian. § 4308. Order Authorizing Investment. § 4301. Original Inventory and Appraisement. Within three (3) months after his appointment or within such further time as the cour t or judge for reasonable cause may allow , the guardian must file with the clerk of the court an invento ry and appraise ment of the estate of his ward. The guardian must make oath to the inventory and the property the property therein described must be ap praised by an appraiser or appraisers appointed by the court or judge in the manner provided for the inventory and appraisement of estates of decedents. The inventory and ap praisement must be recorded by the clerk in a book kept for that purpose, and when ever any ward is or has been during the guard ianship confined in a hospital [for insane] the guard

inventory and ap praisement must be recorded by the clerk in a book kept for that purpose, and when ever any ward is or has been during the guard ianship confined in a hospital [for insane] the guard ian must deliver or mail a copy of the inventory to the Attor ney General. Whenever any property of the ward is discovered which was not included in the inv entory , and whenever any other prop erty has been inherited or ac quired by the ward, other than by purchase by the guard ian, like proceedings must be had for the inventory and appraisement thereof and the delivery or mailing of a copy ther eof as are her ein provided in relation to the first inventory . SOURCE: Probate Code of Guam (1970), § 1550. § 4302. Failure to File Inventory . If the guardian neglects or refuses to file the invento ry within the time prescribed, the court, upon notice, may revoke hi s letters and he shall be liable on his bond for any injury to the estate or any person interested therein, arising from such failure. SOURCE: Probate Code of Guam (1970), § 1551. § 4303. Citation of Persons Embezzling Prop erty of W ard.COL12010615GCA ESTATES AND PROBATE CH.43INVENTORY AND ACCOUNTING 2Upon complaint under

failure. SOURCE: Probate Code of Guam (1970), § 1551. § 4303. Citation of Persons Embezzling Prop erty of W ard.COL12010615GCA ESTATES AND PROBATE CH.43INVENTORY AND ACCOUNTING 2Upon complaint under oath made by a guardian, ward, creditor or other person interested in the ward's estate, or having a prospective interest therein as heir or otherwise, that any person is suspected of having embez zled, concealed, smuggled or fraudulently dis posed o f any property of the ward or has in his possession or has knowledge of any instrument in writing belonging to the ward, the court or judge may cite the suspected person to appear before the court, and may examine and proceed against him on such charge in themanner pro vided in this Title, with respect to persons suspected of having embez zled, concealed, smuggled or fraudulently disposed of property of a decedent. SOURCE: Probate Code of Guam (1970), § 1552. § 4304. Annual Account. At the expiration of a year from the time of his appointment, and as often ther eafter as he may be required by the court, the guardian must present his account to the court for settlement and allowance.

he expiration of a year from the time of his appointment, and as often ther eafter as he may be required by the court, the guardian must present his account to the court for settlement and allowance. When account is rendered by two or more joint guardi ans, the court, in i ts discretion, may allow the same upon the oath of any of them. SOURCE: Probate Code of Guam (1970), § 1553. § 4305. Notice to Attorney General. No account of the guardian of an insane person who is or has been during guardianship confined in a hospital , shall be settled or allowed unless notice of the settlement of the account has been given to the Attor ney General at least five (5) days before the hearing. SOURCE: Probate Code of Guam (1970), § 1554. § 4306. Jurisdiction of Court After T ermina tion ofRelation. The termination of the rela tion of guardian and ward by the death of either guardian or ward or by the ward attaining his majority , or being restored to capacity , shall not cause the court to lose jurisdiction of the proceeding for the purp ose of settling the accounts of the guardian. The account of a deceased guardian shall be presented by his executor or administrator .

se the court to lose jurisdiction of the proceeding for the purp ose of settling the accounts of the guardian. The account of a deceased guardian shall be presented by his executor or administrator . SOURCE: Probate Code of Guam (1970), § 1555. § 4307. Expenses and Compensation of Guard ian. Every guardian shall be all owed the amount of his reason able expenses incurred in the execution of his trust, and shall have such COL12010615GCA ESTATES AND PROBATE CH.43INVENTORY AND ACCOUNTING 3compensation for his services as the court, in which his accounts are settled, deems just and reason able. He shall also be allowed all reason - able disb ursements made after the legal termina tion of the guardianship, but while that relation, by consent or acquiescence of the parties still subsists in fact, and before the discharge of the guardian by the court, and which wer e ma de with the consent, express or implied, of the ward, and for his benefit or the benefit of his estate. SOURCE: Probate Code of Guam (1970), § 1556. § 4308. Order Authorizing Investment. On the applica tion of the guardian or of any person interested in the estate of the ward, and a fter such notice to persons interest ed

of Guam (1970), § 1556. § 4308. Order Authorizing Investment. On the applica tion of the guardian or of any person interested in the estate of the ward, and a fter such notice to persons interest ed therein as the court or judge shall direct, the court may au thorize and require the guardian to invest the proceeds of sales, and any other of his ward's money in his hands, in real property or in any other manner m ost to the interest of the ward; and the court may make such orders and give such directions as are needful for the manage ment, invest ment and disposition of the estate as circumstances require. SOURCE: Probate Code of Guam (1970), § 1557. ----------