QUESTION
If a minor child gets insurnce settlement does it have to go in the bank until they are 18
Asked on Aug 29th, 2016 on Automobile Accidents - Kentucky
More details to this question:
If she gets 10,000 or below can she have access to it now and not when shes 18? She was passenger in an automobile accident and she is wanting a new car.
1 ANSWER
Generally, a parent is appointed or acts as the trustee of the account. If the parent agrees with the request to use the funds, then the funds can be spent. A minir does not have an independent right to the money.
Answered on Sep 09th, 2016 at 1:48 PM
Answers do not constitute legal advice and do not create an attorney/client relationship. Call to discuss your particular legal needs.