Legal Question in Wills and Trusts in Missouri

Re: child trust

If your settlement was approved by a probate court (it should have been since it involves minor children), you can petition that court to put the money in the 529 college savings program. It will be up to the judge to approve or disapprove the request. The judge will look at the pros and cons of the savings plan and any risks involved. I doubt if the judge will approve putting 100% into the plan but may approve a partial amount. Most courts like to have some cash readily availabe for the minor's use should an emergency (medical, etc.) arise. In the past I have had a judge approve of building a new house in a country setting for a disabled child. This child will never know the beauty of the setting (lake, etc.) but since the house was made so that the parents could take care of him on a full-time basis, etc. the court decided that the parents needed a peaceful and serene setting for their well-being and that of the child. Everything depends on your situation. Good luck.