Legal Question in Wills and Trusts in Illinois
My 12 year old inherited a large sum of money
I am his mother, I have custody of him. I was thinking of obtaining legal gardianship of his money because i don't feel that an 18 year old isresponsible enough to handle $80,000. I was wondering If i do this can i put it in a trust so he cannot have it all at once. Or can i invest it as i see fit. and would i be able to charge a fee fpr doing all of this. My grandmother left it to my son.
Asked on 2/17/08, 10:21 pm
1 Answer from Attorneys
John Steele
Steele Law Firm
Re: My 12 year old inherited a large sum of money
If the money was simply left to him, then you can hold it in trust for him until he is 18. You cannot control the money past that point.
Answered on 2/17/08, 10:29 pm
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