Fund Administration

Trust Fund Administration

When the Clerk is to invest funds for the benefit of a minor, the court order should specifically direct the Clerk to invest such funds pursuant to Code of Virginia § 8.01-600.

• Orders that include social security numbers will not be processed.
• Orders should include wording which reflects that funds are to be held until the infant reaches the age of majority.
• An affidavit must be presented that includes the beneficiary’s name, date of birth, address, and social security number. 

To claim trust funds

• Since trust funds are invested through an off-site financial institution, advanced notice of the intent to claim funds is required.
• When the infant reaches the age of 18, he/she should contact the Circuit Court Clerk’s Office regarding procedures to collect trust funds.
  • Parties claiming funds are required to present a photo ID (preferably a driver’s license) and a copy of their birth certificate.
  • Parties who are unable to appear in the Clerk’s Office in person may be asked to provide additional documentation.
• IMPORTANT: If the original court order directing investment of funds does not state the date on which the funds may be released, a new court order must be presented to and entered by the judge before the funds can be disbursed.

NOTE: Any tax consequences are the responsibility of the beneficiary.