There are around six million car accidents in the US each year. Many of these involve children and, sadly, some of these children sustain serious injuries.
If you’re a parent whose child has been injured in a car accident, you’ll likely be wondering how to seek compensation for them.
Read on as we look at everything you’ll need to know about a car accident settlement for a child.
When Are You Entitled to Compensation?
Whether in a car accident or some other situation, if someone causes you an injury and it wasn’t your fault, you should be entitled to a payment.
The extent of this payment will vary according to a number of factors. Generally, however, it should be sufficient to cover your medical expenses, and may also compensate you for pain and suffering. This applies regardless of whether the injured party is an adult or a child.
What’s Different About a Car Accident Settlement for a Child?
If an adult suffers an injury that was not their fault, they retain all rights and responsibilities in relation to taking legal action. Obviously, this system cannot work in the case of someone under the age of eighteen.
Generally, the child must either wait until they turn eighteen to take legal action, or their parents must take it on their behalf.
In the latter case, there are certain conditions that need to be fulfilled. Firstly, parents must become legal guardians of the child’s estate, which requires a court order.
From here, settlement of a child’s claim should result in the deposit of funds into a court-approved bank account. This account should ordinarily be held by the court for the child until they reach the age of eighteen.
Parents should not have any access to this money under normal circumstances. A court may make limited exceptions to this rule where the funds are necessary for the maintenance or education of the child.
If the costs of a lawsuit are beyond you right now, you have options. There are many loan on lawsuit options that allow you to borrow money to take a case before paying it back out of the proceeds of your settlement.
Claiming Your Settlement Money as an Adult
If you’ve recently become an adult and you wish to take possession of settlement monies that were granted to you as a minor, the process should be relatively simple.
Usually, you will simply have to furnish your bank with a copy of the court order that specifies that the money is your property. At that point, you should be able to use the account in the same way as you would use any other.
Securing Justice Regardless of Age
A car accident can be a hugely traumatic experience for anyone. For a child, however, it can be particularly upsetting.
A car accident settlement for a child is therefore very important. It is the duty of adults to look out for those who are not yet capable of protecting their own interests.
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