Minor Settlement Lawyer Columbus, Ohio
Are you involved in a settlement involving a minor? We can help.
In the state of Ohio, any settlement on behalf of a person under the age of 18 (Minor Settlement) is subject to the approval of the county probate court.
Are you legal guardian seeking a settlement on behalf of a minor? Get a Free Case Evaluation today.
A person, usually the parent or parents of the minor, must apply to the county probate court for approval of the settlement of the minor’s claim. They must indicate how much the settlement is for, the cost for attorneys’ fees, case expenses, any outstanding medical bills or other expenses to be paid back and the net proceeds that will go to the minor. The net proceeds for Minor Settlements may be placed in a custodial bank account, such as a Certificate of Deposit (CD), in the name of the parent. The net proceeds, if a significant amount, may also be placed in a structured settlement which would make periodic payments to the minor at certain ages after the minor turns eighteen. If you’re involved in a minor settlement, look no further than Erney Law in Columbus, Ohio to help guide your case.
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Why you need a minor settlements lawyer in Columbus, Ohio.
An experienced probate attorney that specializes in minor settlements like Erney Law in Columbus, Ohio will help you obtain approval from the courts. We will walk you through the court process and help you take the necessary steps in order to be prepared for your case. Also, your minor settlement attorney will help you determine whether to place the net proceeds in a custodial bank account, such as a CD, or into a structured settlement, where you can control at what age the money will be released to your child, and what amount over time until the settlement is paid in full. Let Robert D. Erney help you with your probate court needs.
Structured settlement vs. lump sum payout in minor settlements in Columbus, Ohio.
Lump Sum Payouts
- The money can be spent however and whenever as soon as the minor reaches the age specified in the settlement agreement
- The settlement winner will be more able to meet immediate and unexpected needs
- A larger check will enable the settlement winner to manage their own investments
- If the money is lost, there are no second chances
- Your investments may not do well
- You may be pressured to give the money away
Structed Settlement Payouts
- The settlement winner is guaranteed to receive money to pay expenses over a long period of time
- The settlement winner will have ongoing support for long-term needs
- The settlement winner is protected from the consequences of making bad investments
- There is no access to the majority of the settlement
- You may not be able to pay unexpected bills
What's the process?
Personal injury cases can be complicated and not always guaranteed. Our process ensures that every client we represent will receive the best possible financial outcome, and start the healing process.
Free Case Evaluation
We will first review your case carefully, get to know you, and gain an understanding of your injuries.
Monitor Your Care
If injured, we make absolutely sure you are receiving the proper medical treatment during this difficult time.
We Handle Everything
We will relieve the worry and burden of dealing with the insurance companies to ensure the best possible outcome.
Frequently Asked Questions
What is a minor settlement?
A minor settlement occurs when a minor child was injured by another person, a claim was filed, and the claim was settled for a dollar amount. An experienced attorney will assist you throughout the process of the minor’s claim, insuring you obtain the best possible result for the minor child. We have assisted many parents and guardians in obtaining the best possible settlements for their minor children. Please contact our office to discuss minor settlements further.
Does a court have to approve a minor settlement?
In Ohio, the probate court you live in must approve the settlement of the minor’s claim before funds can be distributed. An excellent attorney will assist you throughout the process of the minor’s claim, insuring the best possible result for the minor child and obtaining the probate court’s approval of the settlement. Our law firm has assisted many parents and guardians in obtaining the best possible settlements for their minor children. Please contact our office to discuss minor settlements further.
What happens to the money my child receives from his / her minor settlement?
Depending on the type of settlement you choose, the child’s money may either be placed in a structured settlement, where it will earn interest until the first scheduled payment date, or in a custodial account at a local bank. These accounts are held in the name of the child only. An experienced attorney can assist you in choosing the right option for your child. Please contact our office to discuss minor settlements further.
Can the funds from my child’s minor settlement be accessed before they turn 18?
It depends on the type of settlement you chose. If you chose a structured settlement, the funds are not accessible until the first scheduled payment date. If you chose to place your child’s minor settlement funds in a custodial account, you would need to obtain permission to access the funds from the probate court that approved the settlement.
Free Case Evaluation
We're eager to meet with you, see how we can help and give you and your family the personal attention you deserve.
Your case matters to us, just as much as it matters to you. We want to help you every step of the way, but in order to do so, we need to meet with you, get all the facts, and work out the details in order to build your case. We will meet with you for absolutely free, and explain to you in full detail the inner workings of how these situations usually end up, how likely you are to win your case, and how compensation works for you and for us.
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