Authorization by order of court is required for any of the following:

1. (a) A compromise or settlement of a claim by the estate against the personal representative or the personal representative’s attorney, whether or not the claim arises out of the administration of the estate.
2. (b) An extension, renewal, or modification of the terms of a debt or similar obligation of the personal representative, or the personal representative’s attorney, owing to, or in favor of, the estate.