Section 45a-499k - Nonjudicial settlement agreements(a) For the purposes of this section, "interested persons" means persons whose consent would be required in order to achieve a binding settlement were the settlement to be approved by the court.(b) Except as provided in subsections (c) and (e) of this section, interested persons may enter into a binding, nonjudicial settlement agreement with respect to any matter involving an inter vivos trust.(c) 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 sections 45a-487j to 45a-487t, inclusive, and 45a-499a to 45a-500s, inclusive, or other applicable law.(d) Matters that may be resolved by a nonjudicial settlement agreement include: (1) The interpretation or construction of the terms of the trust; (2) the approval of a trustee's report or accounting;(3) direction to a trustee to refrain from performing a particular act or the grant to a trustee of any necessary or desirable power;(4) the resignation or appointment of a trustee and the determination of a trustee's compensation; (5) transfer of a trust's principal place of administration; and(6) liability of a trustee for an action relating to the trust.(e) A nonjudicial settlement agreement may not modify or terminate an irrevocable trust. Such a modification or termination may be accomplished only under the provisions of sections 45a-499dd to 45a-499kk, inclusive.(f) An interested person may request the court to approve a nonjudicial settlement agreement to determine whether the representation provided pursuant to sections 45a-499q to 45a-499u, inclusive, was adequate and to determine whether the agreement contains terms and conditions the court could have properly approved.Conn. Gen. Stat. § 45a-499k
Added by P.A. 19-0137,S. 11 of the Connecticut Acts of the 2019 Regular Session, eff. 1/1/2020.