Circuit Court Clerk - Trust and Condemnation Fund Administration
When the Clerk is to invest funds in an interest-bearing account for the benefit of a minor or other beneficiary, the court order should specifically direct the Clerk to invest such funds in an interest-bearing account pursuant to Code of Virginia § 8.01-600. For accounts held for minors, such orders should include wording that funds are to be held until the infant reaches the age of 18.
Pursuant to Code of Virginia § 8.01-600, an affidavit must be presented that includes the beneficiary's name, address, social security number, and date of birth. By law, this information cannot be included in the court order. Orders that include identifying information will not be processed.
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 (or approximately a week prior to his/her 18 th birthday) or when funds become due to the beneficiary, the beneficiary should contact the Circuit Court Clerk's Office regarding procedures to collect trust funds. When claiming funds in person, payees are required to bring a photo ID (preferably a driver's license). Parties claiming funds upon reaching the age of 18 are also required to present 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 REMINDER: If the original court order directing investment of funds did not specifically state the date on which the funds were to be released, a new court order must be presented to and entered by the judge before the funds can be disbursed.