§560:3-1102  Procedure for securing
court approval of  compromise.  The procedure for securing court approval
of a compromise is as follows:



(1)  The terms of the compromise shall be set forth in
an agreement in writing which shall be executed by all competent persons and
parents acting for any minor child having beneficial interests or having claims
which will or may be affected by the compromise.  Execution is not required by
any person whose identity cannot be ascertained or whose whereabouts is unknown
and cannot reasonably be ascertained;



(2)  Any interested person, including the personal
representative, if any, or a trustee, then may submit the agreement to the
court for its approval and for execution by the personal representative, the
trustee of every affected testamentary trust, and other fiduciaries and
representatives;



(3)  After notice to all interested persons or their
representatives, including the personal representative of any estate and all
affected trustees of trusts, the court, if it finds that the contest or
controversy is in good faith and that the effect of the agreement upon the
interests of persons represented by fiduciaries or other representatives is
just and reasonable, shall make an order approving the agreement and directing
all fiduciaries subject to its jurisdiction to execute the agreement.  Minor
children represented only by their parents may be bound only if their parents
join with other competent persons in execution of the compromise.  Upon the
making of the order and the execution of the agreement, all further disposition
of the estate is in accordance with the terms of the agreement. [L 1996, c 288,
pt of §1]