How does the law work in regards to probate of a personal injury settlement for a child?
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How does the law work in regards to probate of a personal injury settlement for a child?
Is it required to be put in a trust? If so, what are approved expenses (i.e. clothing, food, shelter, gas, etc.)?
Asked on August 21, 2013 under Estate Planning, Kentucky
Answers:
FreeAdvice Contributing Attorney / FreeAdvice Contributing Attorney
Answered 11 years ago | Contributor
The money is placed in an interest bearing account subject to removal per a court order until the child is 18 years of age. The court can approve expenses upon a petition by the child's guardian for clothing and the like.
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