Tampa, FL asked in Car Accidents, Estate Planning and Personal Injury for Florida

Q: Husband died in car wreck, separated at time of death. 4 kids but only 2 under 19. Does settlement have to go in trust?

4 Lawyer Answers
Joel Gary Selik
Joel Gary Selik
Answered
  • Personal Injury Lawyer
  • Las Vegas, NV

A: You may have your own case, in addition to the children having cases. Consult with experienced attorneys in the state where this occurred.

Charles M. Baron and Tim Akpinar agree with this answer

Stephen Arnold Black
Stephen Arnold Black
Answered
  • Personal Injury Lawyer
  • Orlando, FL
  • Licensed in Florida

A: Assuming that there is a recovery in the case, any disbursement to persons under the age of 18 will go into a guardianship if the net settlement to each minor is over 15k.

Tim Akpinar and Charles M. Baron agree with this answer

Chelsie Marie Lamie
Chelsie Marie Lamie
Answered
  • Personal Injury Lawyer
  • Clearwater, FL
  • Licensed in Florida

A: I’m very sorry to hear of the passing of the father of your children. In a nutshell, in the State of Florida any settlement for a minor when the case is in litigation must have court approval and usually all funds over $15,001 are put into a protected account for the child. Even if the case is not in litigation, any case where global settlement proceeds exceed $50K or where any amount to the child under 18 is 15,001 or more, again, the Court must grant approval of the settlement and will make sure that the monies are put into a protected vehicle to ensure the money goes to the child after reaching 18. This is done to protect children. Often you will be able to work with the GAL hired by your PI atty to help choose the appropriate account and even set it up to be staggered — giving the child x amount at 18 or 21 or 30, etc.

Tim Akpinar agrees with this answer

James Clifton
PREMIUM
James Clifton
Answered
  • Estate Planning Lawyer
  • Fayetteville, GA
  • Licensed in Florida

A: Sorry to hear about the tragedy that has affected your family. If the children are over 18, each of them will be able to receive their portion without the necessity of a trust or other protected account being set up. If they are under 18 and the amounts received are over $15,000 or the total amount of compensation is over $50,000 (which is very common in wrongful death cases), there will need to be a special account or trust set up for each of the minor children. A guardian ad litem will be appointed to ensure the interest of each minor child is protected. Schedule a free consultation to ensure that you and each of your children are adequately compensated and that all of the legal formalities are met.

Tim Akpinar agrees with this answer

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