Arizona Law on Accident Settlements for Minors
Recovering from an automobile accident can be just as tough mentally as it is physically. It can be even more stressful if a minor was involved. Most likely the minor is a son or daughter and the parent is not sure what the first step in taking action should be. After your have gotten through the initial shock of experiencing an accident you need to focus on obtaining a settlement. It helps to look at settlement in two different parts. One part of the settlement for damages done to your vehicle and a second settlement for physical damages to yourself and those involved in the accident.
Do I need to set up a Trust Fund for my Child's Settlement:
Arizona law requires that the funds be held in a conservatorship until the minor involved in the accident reaches the age of 18. The process requires extensive document preparation and an in court testimony from the proposed conservator. Either parent can serve as the conservator for the child. The funds must be deposited in a secured account with the bank. Once the child has turned 18 they can return to court with the attorney to remove the funds from the conservatorship.
State law can be very complex and confusing. When you're dealing with something like a minor's settlement money it is important that you contact an experienced personal injury attorney in order to make sure you get as much money as possible, and that the money is properly protected for when they come of age.
Why Hire a Personal Injury Attorney:
Personal Injury Attorneys specialize in protecting the rights of individuals, families, and business who have fallen victim to another's bad acts, or negligence. Seeking professional legal advice is vital when you've been seriously injured in an automobile accident. The sooner you seek help for your case the better chance you have of receiving all that you deserve for case.
A Personal Injury Attorney will treat your case on an individual basis, because no two cases are ever the same. Serious injuries can disrupt life as you are used to it, and the longer you wait before contacting professional help the longer you wait to put your life back in order. Most Personal Injury Attorney's work off of a contingency policy which means that they don't get paid unless your case wins!
Do I need to set up a Trust Fund for my Child's Settlement:
Arizona law requires that the funds be held in a conservatorship until the minor involved in the accident reaches the age of 18. The process requires extensive document preparation and an in court testimony from the proposed conservator. Either parent can serve as the conservator for the child. The funds must be deposited in a secured account with the bank. Once the child has turned 18 they can return to court with the attorney to remove the funds from the conservatorship.
State law can be very complex and confusing. When you're dealing with something like a minor's settlement money it is important that you contact an experienced personal injury attorney in order to make sure you get as much money as possible, and that the money is properly protected for when they come of age.
Why Hire a Personal Injury Attorney:
Personal Injury Attorneys specialize in protecting the rights of individuals, families, and business who have fallen victim to another's bad acts, or negligence. Seeking professional legal advice is vital when you've been seriously injured in an automobile accident. The sooner you seek help for your case the better chance you have of receiving all that you deserve for case.
A Personal Injury Attorney will treat your case on an individual basis, because no two cases are ever the same. Serious injuries can disrupt life as you are used to it, and the longer you wait before contacting professional help the longer you wait to put your life back in order. Most Personal Injury Attorney's work off of a contingency policy which means that they don't get paid unless your case wins!
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