Legal Question in Wills and Trusts in Illinois
inheritance
sorry you have miss understood . i had gaurdianship of kids whos parents died. the aunt was the estate person and when she recieved the kids mother life insurance money for the kids she put it in a cd as myself as gaurdian and no withdrawls without court order or kids turn 18. it is the kids money but i have now adopted the kids do i still have to go to court everytime i want to use some. now i am the parent because of adoption can i do what i see fit with the money sorry i wasn't clear
1 Answer from Attorneys
Re: inheritance
Yes, since the CD lays out how money is to be disbursed, you would need a court order. Also, the money is not yours, but the children's. So you cannot do what you want with it (If you could, then the money would be yours). It sounds like the CD was set up to protect the children's money until they were adults, so they could decide at that time what to do with their money.
And lastly, when a person becomes the children's mother by adoption and then wants to get control of the kids money before the money is supposed to be distributed strikes me as a little suspicious.
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