Except as otherwise provided in subsection (b), the trustee and qualified beneficiaries may enter into a binding nonjudicial settlement agreement with respect to any matter involving a trust.
A nonjudicial settlement agreement is valid only to the extent it does not violate a material purpose of the trust and includes terms and conditions that could be properly approved by the court under this chapter or other applicable law.
Matters that may be resolved by a nonjudicial settlement agreement include:
Any qualified beneficiary or trustee may request the court to approve a nonjudicial settlement agreement, to determine whether the representation as provided in Article 3 was adequate, and to determine whether the agreement contains terms and conditions the court could have properly approved.
Structure Mississippi Code
Chapter 8 - Mississippi Uniform Trust Code
Article 1 - General Provisions and Definitions
§ 91-8-105. Default and mandatory rules
§ 91-8-106. Common law of trusts; principles of equity
§ 91-8-108. Principal place of administration
§ 91-8-109. Methods and waiver of notice
§ 91-8-110. Others treated as qualified beneficiaries