Section 21Part 1 — Trusts Act
Power to compound liabilities
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A personal representative or trustee may —
accept any property, real or personal, before the time at which it is made transferable or payable;
sever and apportion any blended trust funds or property;
pay or allow any debt or claim on any evidence that that personal representative or trustee think sufficient;
accept any composition or any security, real or personal, for any debt or for any property, real or personal, claimed;
allow any time of payment of any debt; or
compromise, compound, abandon, submit to arbitration or otherwise settle any debt, account, claim or thing whatever relating to the testator ’ s or intestate ’ s estate or to the trust, and for any of those purposes may enter into, give, execute and do such agreements, instruments of composition or arrangement, releases and other things as to that personal representative or trustee seem expedient, without being responsible for any loss occasioned by any act or thing so done by that personal representative or trustee in good faith.