Legal Question in Wills and Trusts in Illinois

As a trustee, how do I disperse to a beneficiary who is a minor (16 years old).

There is no special provision in the trust as it is written. She is my daughter and I intended to disperse her share and put it in a joint account that she and I have and save it until she is in college. I am getting conflicting information from attorneys and would simply like to do what is easiest and most straight forward.

Asked on 10/20/20, 7:56 pm

2 Answers from Attorneys

Virginia Prihoda Law Offices of Virginia Prihoda

A bank account set up under the Uniform Transfer to Minors Act may be appropriate. The account would be held until your daughter reaches her majority, and the custodian of the account (probably you) would be responsible for managing the account for her benefit. If you are getting conflicting information from attorneys it is likely that none of these attorneys has been hired by you to provide specific advice based on your situation. Consider getting an attorney, even if you have to pay for the representation,.to advise you based on your particular facts and circumstances..

Read more
Answered on 10/20/20, 10:00 pm
Henry Repay Law Offices of Henry Repay

I agree with Attorney Prihoda. I would add, it’s not clear why you would like to move the funds from the trust (e.g., not enough left to manage) or what were the source and purpose of the trust. An attorney can assist you with fully evaluating the situation.

Read more
Answered on 10/21/20, 5:20 am

Related Questions & Answers

More Probate, Trusts, Wills & Estates questions and answers in Illinois