Ill. R. Cir. Ct. Will Cnty. 5.04
"Structured Settlements" demand formulating procedures to safeguard the victims of trauma which results in mental deterioration or physical incapacity or developmental disability when these persons have received a settlement for these injuries.
Orders Approving Structured Settlements Shall Contain One Form of the Following:
If it appears to the Court at the time of settlement that a minor, upon obtaining his majority, may also be a "disabled person," the following language shall be included in order of approval of a structured settlement:
"It is further ordered that, after approval by the Probate Judge, the Court shall receive from the guardian a report as to the physical and mental condition of the minor on or before (date of majority) to determine if a hearing shall be had to adjudicate whether or not the minor,_____, should be declared a 'disabled person' and an estate opened and further payments be made to such duly appointed guardian."
"It is further ordered that, after approval by the Probate Judge, the Court shall continue the estate of the minor for such further determination to either allow guardianship to continue or for a change in guardianship. It is further ordered that the Court shall receive from the guardian a report as to the physical and mental condition of the minor on or before (date of majority) to determine if a hearing should be had to adjudicate whether or not the minor, ___________, should be declared a 'disabled person' and an estate opened and further payments be made to such duly appointed guardian."
"It is further ordered that this matter be referred to the Probate Judge for determination whether a 'disabled person's estate' should be opened and a guardian appointed to receive payments on behalf of the disabled person."
Beneficiary of an annuity established under a structured settlement for a ward must be "the estate of the ward."
Ill. R. Cir. Ct. Will Cnty. 5.04