Legal Question in Personal Injury in Illinois

Re: Protection for Minor/Settlement

ALL settlements with respect to a minor MUST be approved by either the Probate Court or the Trial Court where the case is pending. If the amount the minor receives is above $10,000 (not the gross settlement amount but the amount the kid is to get) then the entire sum must be placed in an approved interest bearing bank account where no one can touch the money before the kid reaches the age of 18, at which time he can withdraw the money and use it as he or she pleases.

If the amount the kid is getting is less than $10,000 then it is possible that the Court will allow the parent to have the money. However, the kid can appear in Court and tell the judge that he or she rather have the money in a bank account. The Court will order it that way and again the money will be prote4cted until the kid reaches the age of 18.

In this, it is BEST if you get the help of an attorney to make sure that the paperwork and process are correctly done so that the funds are protected and available when the kid wants it and/or are used for the benefit of the kid.

This is a complicated area of the law and without a lawyer, it is possible that the kid may be left to be taken advantage of.

I hope this helps,

Nima Taradji