Under Minnesota Law, personal injury settlements for minors are subject to special provisions under the law. These provisions include the following:
1. All settlements for minors (persons under the age of 18) must be approved by a judge. Any settlement not so approved his void.
2. A judge must approve all disbursements, including payments of attorneys fees and medical expenses.
3. Under certain circumstances, the parents may be reimbursed for their expenses.
4. The proceeds of the settlement must be invested in accordance with a court order. Under certain circumstances, a structured settlement may be allowed.
5. A proof of investment of the proceeds, such as the savings account book or certificate of deposit, must be filed with the court and remain on file until the minor reaches the age of majority, at which point the funds will be turned over to the person.
The Schmidt Law Firm, Minneapolis Accident Lawyer, has 30 years of experience in over 6000 successful cases in handling personal injury and wrongful death cases. Many of these successful cases have involved injuries to children which resulted from car accidents, trucking accidents, bicycle accidents, and even farm equipment injuries.