My son is 13 yrs old got settlement check but he must go to bank for open account if parents get little cash from my son money now.

UPDATED: May 18, 2009

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My son is 13 yrs old got settlement check but he must go to bank for open account if parents get little cash from my son money now.

Asked on May 18, 2009 under Personal Injury, Idaho


J.V., Member, New Jersey Bar / FreeAdvice Contributing Attorney

Answered 13 years ago | Contributor

Your question is very unclear so I may not be able to answer you specifically. What I understand you to be saying is that your son won a settlement and got a check which he wants to deposit but to do so must open an account in the bank. I than lose you so you may want to resubmit your question more clearly.

I will however advise you of this. If your son has a settlement check he should go to the bank and open a savings account. He will have to do so with an adult. At that point your son and the adult will have access to the money to use as they see fit. If you do not want it available to anyone you should call a local attorney and see about setting up a trust with a 3rd party as trustee. You can make it so that the money is not touched until he reaches a certain age or for a certain things such as tuition.

I hope this helped answer your question.

IMPORTANT NOTICE: The Answer(s) provided above are for general information only. The attorney providing the answer was not serving as the attorney for the person submitting the question or in any attorney-client relationship with such person. Laws may vary from state to state, and sometimes change. Tiny variations in the facts, or a fact not set forth in a question, often can change a legal outcome or an attorney's conclusion. Although has verified the attorney was admitted to practice law in at least one jurisdiction, he or she may not be authorized to practice law in the jurisdiction referred to in the question, nor is he or she necessarily experienced in the area of the law involved. Unlike the information in the Answer(s) above, upon which you should NOT rely, for personal advice you can rely upon we suggest you retain an attorney to represent you.

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