Minor's Settlements

Whenever a child under the age of eighteen years receives money or other property of value-such as an inheritance from an estate, proceeds from a life insurance policy, a settlement of a personal injury claim or a wrongful death settlement- the Probate Court must approve the settlement of the minor's claim or right to receive the property.

Where the amount received by the minor is $10,000 or less, the money can be simply deposited in a restricted account for the benefit of the child. The funds cannot be withdrawn without prior approval of the Court.

Where the amount received by the minor is greater than $10,000 then a guardian of the estate of the minor must be appointed by the Court. The parents can be guardians of the minor's estate.

In all cases, regardless of the amount of settlement, the parents of the minor must both consent to settlement of claim for the minor's injury.

The information contained on this web site is not legal advice, nor should it substitute for the assistance of a qualified attorney. Good legal assistance can speed up the court process and prevent making costly legal errors. Get more information on obtaining an attorney.