A. 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:

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(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.