If my 6 year old grandaughter is going to recieve a $60,000 settlement from a dog attack, will the mother have access to this money?
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If my 6 year old grandaughter is going to recieve a $60,000 settlement from a dog attack, will the mother have access to this money?
Or will it have to go into a trust until the child is 18 years old?
Asked on April 18, 2013 under Personal Injury, Ohio
Answers:
M.D., Member, California and New York Bar / FreeAdvice Contributing Attorney
Answered 11 years ago | Contributor
Typically such settlements are put into Trust for the benefit of the child. When they reach 18 yeas of age they then are given access to the money. The arent does not have rights to the funds; a custodian is set up to handle the Trust. That having been said, in certain circumstances of hardship, application can be made to the court by the custodian for early relaese of all or some of the Trust assets if it would be in the best interests of the child.
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