We deal with cases involving injured minor’s on a regular basis. The most important fact that parents of injured children must understand is that the settlement belongs to the child and no one else. With most parents that fact goes without saying–for others who do not view this fact, in the same way, the Court has a safe-guard.
Like with most issues we discuss here, the State of the child’s residency is going to control how the settlement is handled. In our home State, Georgia, there are two controls: A minor settlement as well as a conservatorship. If the gross settlement is in excess of $15,000.00 then the Probate Court must approve a minor settlement. However, if the gross settlement is in excess if $15,000.00 and the final take-home pay out for the minor is also in an excess of $15,000.00 then the settlement must be accompanied with a minor conservatorship. A conservatorship involves the appointed conservators providing a plan for how the settlement will be handled and maintained by the conservators.
In our closest neighboring State, South Carolina, the financial stipulations are slightly different. Any gross settlement that is in excess of $7,500.00 will require a minor settlement that must be addressed by a General Sessions Court Judge and it must be addressed in open court.
In both State’s the ultimate goal is (as it is anytime a child is involved) ensuring that the child’s best interest is served. If your child has been injured in any sort of accident contact Corley and Derieg Attorneys at Law today at 706-524-8000 for a free legal consultation.
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