Another irrevocable trust bites the dust. Surviving spouse failed to fund the bypass trust upon her husband’s death. Trustee engaged DeAngelis Legal to negotiate and draft a non-judicial settlement agreement between the trustees and beneficiaries. The agreement provided for a revised allocation of the assets upon the surviving spouse’s death and a release of claims by the parties. The agreement essentially modified the terms of the irrevocable trust. For more on modifying irrevocable trusts see Modifying or Terminating Irrevocable Trusts.