Accidents that involve children are some of the scariest for parents. If your child, under the age of 18, suffered a severe injury, you need to take additional steps to protect any minor settlement.
At Veritas Injury Lawyers, our seasoned child injury attorneys have decades of experience working with insurance companies and helping families navigate structured settlements for injured children in Grand Junction. We focus not only on obtaining maximum compensation for your family but also on ensuring that proper protections are in place for minor children. Our team has assisted numerous clients with these types of issues following auto accidents or injuries in premises liability cases.
Generally, two ways exist to protect settlements of $10,000 or more that benefit minor children.
Considering the Options to Protect Your Child’s Financial Affairs
In Colorado, the court will appoint a decision maker to handle financial affairs through a conservatorship. This process can take time and require ongoing accountings with the court. But it may be appropriate when medical expenses continue through adolescence, and it is important to be able to access funds for treatments.
Another option is a structured settlement that begins paying out when the child reaches 18. These annuities stretch a settlement into monthly payments over many years and can be useful in many circumstances.
