Legal Question in Wills and Trusts in Illinois

Custodian

Who may be appointed a custodian on an account for a minor? It is in excess of $150,000 if that matters. I looked high and low in the Illinois probate Act Book.


Asked on 12/03/07, 3:12 pm

2 Answers from Attorneys
John Steele Steele Law Firm

Re: Custodian

by account, do you simply mean a bank account? If so, you could establish a trust with the money and have a family member or attorney act as the trustee. Obviously you want to be careful with a large amount of money. More info would help me answer this better.

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Answered on 12/03/07, 3:36 pm
Joseph Michelotti Michelotti & Associates, Ltd.

Re: Custodian

Anyone can be appointed guardian, but the closer the relationship the better.

check out my website

www.michelottilaw.com

email me if you have any questions

[email protected]

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Answered on 12/03/07, 11:22 pm


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