Legal Question in Personal Injury in Illinois

i was rear ended in a accident and the case was going to court i waited two years and finally it was settled out of court two weeks before my case was scheduled. They offered my kids a settlement of no more than 1000 dollars that they would walk away with after doctor bills and legal fees. my lawyer tells me they need to set up trust funds for the kids?? For a small amount as a thousand dollars??? why? they would have to wait eleven years to get a thousand dollars???


Asked on 11/17/10, 3:57 pm

2 Answers from Attorneys
Nima Taradji Taradji Law Offices

There are two things here:

1- the settlement money must be deposited into a trust fund;

2- your lawyer has to go into the probate court and/or the trial court and get the settlement approved;

3- If the amount the child is ending up with is less than $10k, your lawyer can petition the court to give you the money. But the court has to agree.

I hope this help-

Read more
Answered on 11/22/10, 4:10 pm
Burton Padove Indiana and Illinois Lawyer, Burton A. Padove

Nima is absol;utely correct. HAve your lawyer petition the trial court if possible so that you can avoid the additional expense of filing a probate case.

Read more
Answered on 11/24/10, 4:23 am


Related Questions & Answers

More Personal Injury Law and Tort Law questions and answers in Illinois