Section 47. The probate court may, upon the application of a guardian or conservator or of any person interested in the estate of a ward, after notice to all other persons interested, authorize or require the guardian or conservator to sell and transfer any personal property held by him as guardian or conservator and to invest the proceeds thereof and all other money in his hands in such manner as may be for the best interest of all concerned. Said court, after such notice, if any, as it may require, may make such further order and give such directions as the case may require for the management, investment and disposition of the estate in the hands of the guardian or conservator.