Legal Question in Wills and Trusts in Illinois
small estate
my son died. he has no spouse but has minor child. will be receiving lawsuit settlement money. who is entitled to the balance of the money after all bills are paid and mnor children are given what is due them?
Asked on 12/05/08, 12:55 pm
2 Answers from Attorneys
George Zuganelis
Zuganelis & Zuganelis, Attorneys at Law, P.C.
Re: small estate
The minor child is his only heir. That child will receive everything. The court will put the money in a trust account until the child is 18. The trustee will have to get permission from the court to withdraw any money, and only for the benefit of the child.
Answered on 12/05/08, 1:12 pm
Thomas Moens
Moens Law Offices, Chartered
Re: small estate
Unless he had a will directing otherwise, everything goes to his child, as it should. Since the child is apparently less than 18 years old, the court will appoint a trustee to manage the money.
Answered on 12/05/08, 2:53 pm
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