56                                     LAWS OF MARYLAND                              [CH. 3

(h) insure the property of the estate against damage, loss and
liability, and himself, as personal representative, against liability in
respect to third persons;

(i) effect a fair and reasonable compromise with any creditor or
obligee, or extend or renew any obligation due by the estate;

(j) pay taxes, assessments and other expenses incident to the
administration of the estate;

(k) sell or exercise stock subscription, conversion or option
rights; consent to or oppose, directly or through a committee or
other agent, the reorganization, consolidation, merger, dissolution
or liquidation of a corporation or other business enterprise;

(l) pay the decedent's funeral expenses in accordance with the
procedures provided in Section 8-106, including the cost of burial
space and a suitable tombstone or marker, and the cost of perpetual
care thereof;

(m) employ for reasonable compensation auditors, investment
advisors or other persons with special skills, to advise or assist the
personal representative in the performance of his administrative
duties;

(n) prosecute, defend or submit to arbitration actions, claims,
or proceedings in any jurisdiction for the protection of the estate;
provided, however, that (i) no personal representative may insti-
tute an action for slander against the decedent, and (ii) in any
action instituted by the personal representative against a tortfeasor
for a wrong which resulted in the death of the decedent, the per-
sonal representative shall be entitled to recover the funeral expenses
of the decedent not in excess of $1,000 in addition to any other dam-
ages recoverable in such action;

(o) continue any unincorporated business or venture in which
the decedent was engaged at the time of his death (1) in the same
business form for a period of not more than four months from the
date of appointment of a personal representative where continuation
is a reasonable means of preserving the value of the business includ-
ing good will, (2) in the same business form for any additional
period of time that may be approved by order of Court in a proceed-
ing to which all persons interested in the estate are parties, or (3)
throughout the period of administration if the business is incor-
porated after the death of the decedent;

(p) incorporate any business or venture in which the decedent
was engaged at the time of his death if none of the probable dis-
tributees of the business who are competent adults objects to its
incorporation and retention in the estate;

(q) exercise any options, rights and privileges contained in any
life insurance policy, annuity, or endowment contract constituting
property of the estate, including the right to obtain the cash sur-
render value, convert any such policy to any other type of policy,
revoke any mode of settlement, and pay any part or all of the pre-