30-24,123 Effect of approval of agreements involving trusts, inalienable interests, or interests of third persons. - Nebraska Statutes

30-24,123. Effect of approval of agreements involving trusts, inalienable interests, or interests of third persons.A compromise of any controversy as to admission to probate of any instrument offered for formal probate as the will of a decedent, the construction, validity, or effect of any probated will, the rights or interests in the estate of the decedent of any successor, or the administration of the estate, if approved in a formal proceeding in the court for that purpose, is binding on all the parties thereto including those unborn, unascertained or who could not be located. An 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 who are not parties to it. SourceLaws 1974, LB 354, § 201, UPC § 3-1101. AnnotationsSections 30-24,123 and 30-24,124 allow competent parties having beneficial interests in an estate pursuant to a will clouded by a good faith contest or controversy to reach a settlement agreement, which will be approved by a court if the agreement is just and reasonable. In re Estate of Marsh, 2 Neb. App. 649, 513 N.W.2d 35 (1994).