(a) (1) If a basis exists as described in § 13–201 of this subtitle for assuming jurisdiction over the property of a minor or disabled person, the circuit court, without appointing a guardian, may authorize or direct a transaction with respect to the property, service, or care arrangement of the minor or disabled person.
(2) The transactions described under paragraph (1) of this subsection include:
(i) Payment, delivery, deposit, or retention of funds or property;
(ii) Sale, mortgage, lease, or other transfer of property;
(iii) Purchase of contracts for an annuity, life care, training, or education;
(iv) Making the election to take an elective share of an estate subject to election under § 3–403 of this article; or
(v) Any other transaction described in:
1. § 13–203(c)(2) of this subtitle;
2. Title 9, Subtitle 2 of this article; or
3. § 15–102 of this article.
(b) Before approving a transaction or arrangement under this section, the court shall consider the interests of creditors and dependents of the minor or disabled person and whether the property of the minor or disabled person needs the continuing protection provided by a guardian.