Ill. R. Cir. Ct. Will Cnty. 5.01
The procedures outlined in this Section contemplate that the Judges assigned to the Jury and Non-Jury Division will rule on the fairness of a proposed settlement, adjudicate the reasonableness of the fees and expenses attributable to the litigation under the attorney's retainer agreement and pursuant to Article VIII of the Illinois Rules of Professional Conduct Rule 1.5 (fees), adjudicate liens where appropriate, find the degree of dependency in wrongful death cases, and determine the net amount distributable to those persons entitled. Once these determinations are made by the Law Judge, the Probate Division is responsible for the appointment of guardians or other representatives, setting and approval of bonds, and the administration of the estate in cases where the amount involved requires administration.
Structured settlements must be dealt with carefully. When structured payments are part of a settlement, the attorney's fees, if not similarly structured, shall be based on a percentage of the present cash value of the total settlement. If the structure includes direct payment by the defendant of installments without the purchase of an annuity, the present cash value of the installment payments must be determined.
The Trial Judge shall have the discretion to order the money placed in a federally insured depository subject to withdrawal only upon court order or the minor obtaining the age of majority, or alternatively order that a proceeding must be instituted in Probate for appointment of a guardian and administration of the proceeds. In cases where probate administration is required, the Trial Judge's order must contain the following language:
"The Settlement amount approved herein shall be paid only to a guardian appointed by the probate division or Circuit court where the minor or disabled person resides and this order shall be effective only after the entry in court of an order approving the bond or other security required to administer the settlement and distribution provided for in this order".
In the event that a probate proceeding is ordered, the Trial Judge's order should not contain language which appoints a guardian, designates a depositary or purports to waive bond. The order should be restricted solely to determining the reasonableness of the settlement, fixing the fees and expenses attributable to the litigation, adjudicating liens and determining the amount to be distributed. Further, the order should not direct the execution of releases by the parent or purport to appoint the parent as guardian unless it also orders that the settlement draft shall include in the "payee" portion the words "subject to order of the probate court." Nothing herein, pursuant to the Illinois Constitution, shall deprive the Trial Judge of the authority to make such other different or further order as it may deem appropriate under the facts presented to it.
Ill. R. Cir. Ct. Will Cnty. 5.01