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Personal Injury Settlements For Minors: Can The Funds Be Accessed Immediately Or Wait Until 18?

Under California law, if a minor is injured and receives a settlement from the at-fault party, the minor will not be able to access these funds until after he or she reaches the age of majority. An experienced Sherman Oaks injury attorney from Mancini & Associates explains that when the settlement is worth less than $5,000, the minors compromise and release hearing is usually not necessary.

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Personal Injury Settlements For Minors: Can The Funds Be Accessed Immediately Or Wait Until 18?

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  1. PERSONAL INJURY SETTLEMENTS FOR MINORS: CAN THE FUNDS BE ACCESSED IMMEDIATELY OR WAIT UNTIL 18?

  2. If you are reading this, chances are you are a minor under the age of 18 or a parent of a minor. You also probably know by now that under California law, if a minor is injured and receives a settlement from the at-fault party, the minor will not be able to access these funds until after he or she reaches the “age of majority.”

  3. What Is A Minor’s Compromise And Release Hearing? How does this process work? Well, to get things started after a personal injury case has been settled for a specified amount, the court will appoint a guardian ad litem. Unless the child (a minor under the age of 18) has been legally emancipated, the minor and his or her parents have to get the court’s approval to receive the monetary compensation from a personal injury case.

  4. Generally, the entire sum of money is: Deposited into a blocked account (accessible after the minor turns 18, and need to be placed into any FDIC-insured bank, trust company, or savings and loan associate; the bank or financial institution will be selected by the guardian). ❖ Used to purchase an annuity (investment of funds for future use by the minor after he or she becomes an adult). ❖

  5. Why Personal Injury Settlements Are Not Immediately Accessible By California Minors? Help the minor monitor his or her settlement funds by appointing a guardian and approving the settlement. Help the minor spend the settlement funds rationally. Ensure that the settlement is fair and equitable. Ensure that the minor can access and use all of the settlement funds after his or her 18th birthday. ● ● ● ●

  6. Do Settlements For Minors Always Have To Be Approved By The Court? Not always. There are occasions when no approval by the court is required in order for the minor to access the settlement funds immediately. A Sherman Oaks injury attorney from Mancini & Associates explains that when the settlement is worth less than $5,000, the minor’s compromise and release hearing is usually not necessary.

  7. CONTACT MANCINI & ASSOCIATES Address Phone Website 15303 Ventura Blvd, Suite 600 Sherman Oaks, CA 91403 818-783-5757 https://www.mamla w.net/Contact.shtml

  8. ThankYou!

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