(a) The personal representative has the management and control of the estate and, in managing and controlling the estate, shall use ordinary care and diligence. What constitutes ordinary care and diligence is determined by all the circumstances of the particular estate.
(b) The personal representative:
(1) Shall exercise a power to the extent that ordinary care and diligence require that the power be exercised.
(2) Shall not exercise a power to the extent that ordinary care and diligence require that the power not be exercised.
(Enacted by Stats. 1990, Ch. 79.)