Ind. Marion Cnty. Prob. Local Rule LR49-PR00 Rule 418

418.1 Guardian Ad Litem. In accordance with the Indiana Code, a guardian ad litem may be

appointed to protect the best interest of the minor and investigate the proposed settlement.

418.2 Evidentiary Hearing. The Court will hold a hearing on a proposed settlement of a

minor’s claim if a hearing is requested by the petitioner, by the guardian ad litem (if any), or by

any other interested person, and the Court may schedule and hold an evidentiary hearing on its

own motion after receiving and reviewing the Petition and the terms of the proposed settlement,

in order to satisfy the Court that the requested settlement fully protects the minor's rights and

interests. Unless the preceding sentence applies, the Court will normally consider and rule upon

proposed minor’s settlements in chambers and without an evidentiary hearing.

418.3 Minor’s Consent to Settlement. If the minor is at least fourteen (14) years of age, the

proposed settlement shall be accompanied by a written consent to settlement by the minor.

418.4 Attendance at Hearings. If an evidentiary hearing is ordered under MSCPR 418.2, the

following persons must be present at the hearing: (a) the custodial parent or the guardian; (b) a

minor who is at least the age of fourteen (14) years; and (c) at the discretion of the Court, minors

younger than fourteen (14) years of age. Further, unless a written waiver and consent is provided

to the Court, a non-custodial parent of the minor has the right to attend the hearing and must be

provided with notice of the hearing.

418.5 Limited Settlements or Administration.

1. If the funds originating from a minor's settlement are less than the amount

requiring establishment of guardianship under the Indiana Code or if a guardian of

a minor's estate is appointed for the limited purpose of administration of the

minor's settlement, the Court will accept the deposit of the minor's settlement in a

restricted account at a federally insured financial institution or in another Court-approved investment in lieu of any other requirement for inventory and

accounting, subject to affirmation in each biennial accounting that the funds

remain on deposit.

2. The sole beneficiary named on the account so created must be “The Guardianship

(or Guardianship Estate) of ________” [name of minor].

3. Any such restricted account must provide that no principal or interest may be

withdrawn from the account without a written order of the Court, and with the

following restriction placed on the face of the account or in the investment

document:

NO PRINCIPAL OR INTEREST SHALL BE WITHDRAWN WITHOUT WRITTEN ORDER

OF THE MARION SUPERIOR COURT 8, PROBATE DIVISION

418.6 Attorney’s Undertaking and Certification.

1. At the time the settlement is approved by the Court, the fiduciary and his or her

attorney shall execute the Court's attorney's undertaking making the attorney

personally responsible for the deposit of the funds in a restricted account. The

attorney’s undertaking shall be substantially in accordance with the form of

MSCPR Form 418.6 (A).

2. Within thirty (30) days after an Order authorizing the creation of the account or

investment, a certificate by an officer of the institution at which the account or

investment has been created shall be filed with the Court which affirms that the

account or investment is restricted as required by Court order and is in

compliance with this MSCPR 418.6. The certification shall be substantially in

accordance with the form of MSCPR Form 418.6 (B).

3. The fiduciary and the financial institution shall both promptly notify the Court in

writing in the event that any principal or interest is withdrawn from the account

without Court authorization.

418.7 Application of Guardianship Law. Minors’ settlements shall otherwise be subject to

the requirements for guardianship, including the filing of inventory and accounting in

guardianships.

418.8 Attorney Fees. Attorney fees for representing a minor in settlement of a claim for

personal injuries are subject to Court approval. If the entire attorney fee is to be paid at the same

time a structured settlement is approved, the amount of the fee must be based on the present

value of the settlement.