Section 45-3-1101 - Effect of approval of agreements involving trusts, inalienable interests or interests of third personsA. A compromise of any controversy is binding on all the parties thereto as to any lawful matter involving the estate. Matters that may be resolved by the compromise include: (1) admission to probate of any instrument offered for formal probate as the will of a decedent;(2) the construction, validity or effect of any governing instrument;(3) the rights or interests in the estate of the decedent;(4) the rights or interests of any successor; and(5) the administration of the estate, if approved in a formal proceeding in the district court for that purpose.B. A court-approved compromise is binding even though it may affect a trust or an inalienable interest. A compromise does not impair the rights of creditors or of taxing authorities that are not parties to it.1953 Comp., § 32A-3-1101, enacted by Laws 1975, ch. 257, § 3-1101; 1995, ch. 210, § 46; 2016, ch. 69, § 721.Amended by 2016, c. 69,s. 721, eff. 7/1/2016.