Legal Question in Family Law in Illinois

Illinois financial guidelines for a parent as conservator
My daughter's ex-husband died and left his insurance proceeds directly to his 2 surviving minor sons. The amounts for each child are less than $50,000. Illinois court assigned the children's mother as conservator of these funds. They state that the monies be managed under the Illinois UMGA.

Realizing that the funds must be spent on the children's behalf, where can I find detailed guidelines outlining what these funds can be spent on. What expenses are considered normal parental responsibility, and what can be paid for out of these funds?

Asked on 1/05/05, 10:55 pm

Zedrick Braden III Ainsworth & Associates PC

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Re: Illinois financial guidelines for a parent as conservator

Hello. Based upon my experience, mom will have to

get approval to spend the money and will be required to do periodic accountings. In the best

interest of the children, the judge will make the

call as to what is a necessary expenditure. I

will be quite happy to answer any additional questions that you might have.

Answered on 1/08/05, 2:56 am

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