After a minor’s compromise, how is the settlement awarded?
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After a minor’s compromise, how is the settlement awarded?
My son was in a minor car accident and sent to the ER for precationary reasons. After the claim is done including the minor’s compromise, is the money put in a blocked account? Does he have immediate access to it?
Asked on May 10, 2012 under Accident Law, California
Answers:
M.T.G., Member, New York Bar / FreeAdvice Contributing Attorney
Answered 11 years ago | Contributor
Generally speaking, proceeds for a minor from the settlement of a personal injury lawsuit are placed in an account for the minor or they can be released to the parent as natural guardian. It really depends on the size of the settlement. Some times the court reuires that the money be placed in an annuity for the benefit of the chiold when he turns 18. If released to you then you will have a fiduciary responsibility. I would consult with your attorney as to your options. Good luck.
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