Settling a Personal Injury Claim for a Minor

Minors have no say over legal matters due to their age. While in many cases, this means parents are responsible for making decisions, the court will often step in and make sure a child’s best interest is protected when it comes to settling a personal injury case. This can add time and expense onto a case, which is why it’s important for parents to understand how this process works.

An Added Layer of Protection

Parents are supposed to protect their children, which is why they will typically work with an experienced personal injury attorney to handle their child’s case. However, sometimes the dollar signs can cloud judgment and parents make decisions that aren’t particularly in the best interest of their injured child. Requiring approval from the court prior to accepting a settlement will ensure a neutral third party is looking at it from the child’s perspective, providing an additional layer of protection to ensure a child is compensated appropriately for the injuries they have suffered.

Protecting the Assets

Once a settlement has been reached, the courts require the funds received in the settlement are placed into a conservatorship so they will be used for the child’s needs. Even parents with the best intentions can make mistakes that lead to using the money in a way it shouldn’t be. This process works by naming a conservator to take control of the settlement funds. In many cases, this money is placed into a high-interest bearing account so it can grow and the child will have the finances needed to maintain a good quality of life as they go through their lives. If the money isn’t required immediately, it’s best to leave it to gain interest. However, if the parents do need assistance with bills and other costs directly associated with the injury, the conservator can withdraw the funds as needed. This money cannot be used for clothing, food or shelter because these are considered basic needs every parent should provide.

Who Can Be Conservator

Anyone can be named conservator over a personal injury settlement. When the settlement is on the lower end, the parents are typically named as conservators because there is little risk of abusing the money. However, when a larger sum is obtained, it is often wise to choose an outside party who has nothing to gain personally by controlling the money. In these situations, the conservator must be bonded and will be required to check in with the courts on a regular basis to ensure the money is managed properly. Any conservator must be approved by the court.

No one wants to see their child injured, especially when someone else is at fault. However, if this does occur, it’s important to understand how these settlements work so you can more easily navigate through the case and get the compensation your child deserves.

4 Major Costs for Your Minor Wreck

The expenses that go along with vehicular accidents is enormous. And while a lot of people don’t know this, taxpayers actually foot the bill on many auto repair costs that is incurred by vehicles belonging to the city, county, and state. After many years of service within the several practice areas of law, it has become easier to see which expenses are the most major even in the most minor of wrecks. Let’s take a quick look at the four major costs that can be endured in a minor wreck.

Peace of Mind

Sometimes, what you lose in a wreck does not have a monetary value, such as your peace of mind. When your family is accustom to having a vehicle, or perhaps even more than one at any given time, and one of them is damaged in a wreck, this can become very stressful. Not only are you stressing about replacing the car or truck, but in the meantime you are having to get your entire family to wherever it is that they need to go with one less vehicle. From having to get up earlier to picking up the kids late from school, your peace of mind is likely to go out the window until you can afford a vehicle replacement.

Loss of Life

The year 2016 brought about one of the worst years in regards to lives loss from vehicular accidents. There were nearly 40,000 vehicular deaths in 2016, which was a six percent rise from the year 2015 and a 14 percent rise from 2014.

Medical Expenses

Repairing and/or replacing damaged vehicles can be quite costly, especially when one of the cars involved does not have insurance on it. What is even more costly is the associated medical bills that are often incurred. And what is sad is that a large number of people drive around with no insurance on their cars and trucks, meaning if medical expenses need to be covered, there is no insurance to cover it.

Loss of Insurance

After you are involved in so many accidents or incur so many traffic violations, you will likely be unable to acquire insurance. And even if you are able, the premium rates are going to be outrageous. This is why so many people drive around with no insurance at all — it’s not that they don’t want to purchase it, it’s just that they don’t have the money to afford it.

To learn about receiving proper compensation for your wreck, contact a qualified personal injury attorney today.