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But how exactly are children’s car accident settlements handled? Understanding the process is crucial for parents and guardians who may find themselves in this unfortunate situation. Some specific considerations and procedures need to be followed.
The legal system has established guidelines to protect the best interests of the child involved. A Fort Myers car accident attorney can help you gain a better understanding of these laws and can help empower parents and guardians to confidently navigate the legal system and secure proper compensation for their child.
Settlement Payouts for Minors in Florida
The Global Settlement Rule serves as the governing factor when it comes to approving settlements for minors; if the gross settlement amount is greater than $50,000, court approval is required before any money can be distributed.
Additionally, the presence of a guardian ad litem or court-appointed representative may be necessary. This is to ensure that the best interests of the child are being taken into account and that they receive the full amount awarded.
For smaller settlements, those under $15,000 or with net payment amounts less than $50,000 tend not to require court approval. Ultimately, each case must be evaluated based on its individual circumstances in order to determine who will handle proceedings most responsibly. An auto accident lawyer can explain what situations may apply to your specific case.
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Distribution of Settlement Funds
When it comes to settling a personal injury case for a minor, the law requires special steps to ensure that the money is distributed in the best interest of the child. When the net amount of the settlement is $15,000 or less, this process is simple, and the judge will have the funds given to the parents so they can be used appropriately.
However, when more than $15,000 is awarded, it’s necessary to set up a formal guardianship of assets that must be approved by a judge and managed in accordance with their court order.
The funds created are placed into a restricted annuity or bank account, and the court must approve all requests for withdrawals. This allows them to control how much of these funds are being utilized and protect the interests of the minor involved.
Can Parents Be Compensated for Their Child’s Injuries?
Parents can be entitled to compensation for their child’s injuries in a number of circumstances. Firstly, if a parent has no choice but to stay home from work to provide care for their injured child, they may have the right to recover lost wages.
Additionally, when a parent pays out-of-pocket expenses related to the medical treatment of an injured child, such as hospitalization and emergency room visits, the parents are eligible to recover those costs as well.
Furthermore, if parents pay individuals like nurses or babysitters to look after their injured child while they are unavailable due to work or other obligations, they may also be entitled to compensation for these incurred expenses.
Click To ContactCompensation for a Minor Injured in a Car Accident
When a child is injured in an automobile accident, the law may recognize certain losses suffered by the child that are eligible for compensation. While it is not easy to put an exact financial figure on such losses, they can include:
- Medical expenses
- Mental and emotional trauma
- Pain and suffering
In particular, when a child is severely injured in an accident due to someone else’s negligence or recklessness, legal action may be taken against the at-fault party.
Physical losses resulting from a car crash may include bodily harm such as:
- Broken bones
- Lacerations
- Internal injuries
- Disfigurement and scarring
- Spinal cord injury
- Traumatic brain injury
Mental and emotional anguish experienced by the victim is often experienced; this can manifest through depression or post-traumatic stress disorder (PTSD).
Children who have had their lives turned upside down by an accident are also entitled to recover damages for long-term treatment costs if necessary. This includes ongoing therapy sessions, which may be necessary for getting them back on their feet.
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Contact a Lawyer to Learn More From a Car Accident Attorney
When a child is injured in an accident, it affects the entire family. At Viles & Beckman, our priority is making sure your family gets the support and resources needed during this difficult time. We understand that a car accident settlement is about more than just money.
It’s also about securing your child’s medical care and future well-being. Our dedicated team of lawyers will guide you compassionately through the legal process, maximizing the settlement value to enable your child’s full recovery.
From negotiating with insurance companies to protecting settlement funds in court, we have the experience and resources to achieve an optimal result. Contact us today for a free consultation to discuss your child’s case. You have our word that we will fight to secure the relief and care your family deserves.
Call or text (239) 334-3933 or complete a Free Case Evaluation form
