Minors receiving financial awards as the result of accident or personal injury lawsuits may get funds paid through structured settlements.
In the past, many adults acting as parents or guardians of injured children had unlimited discretionary use of a minor's settlement funds. They spent the money irresponsibly on purchases unrelated to their court-prescribed purposes. Timed payouts were developed as an alternative to ensure that minors had money for essential long-term necessities, like food, clothing and shelter, and for any continuing medical care.
Because of this danger of inappropriately using settlement funds, the process for selling the structured settlements of minors is highly regulated, and these payments are not often approved for transfer.
Read more about Structured Settlements & Minors
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