Personal Injury settlement for minor daughter

What is the name of your state? North Carolina

My 10 year old daughter was seriously injured in December 2000 while riding in a friend's automobile. The insurance company has made what we think is a fair offer to settle; however they tell us that a court must approve the settlement. What is involved with this court settlement? Our daughter is now 13 and we hope to invest the settlement in a college fund for her, is this something that can be part of the court settlement?

[tammy8]

Ummm how badly was your daughter injured?

[stephenk]

most minor compromises (settlement of a minor's claim) must be approved by a court. In California, a settlement less than $5,000 does not have to be approved by a court.

A court approved settlement usually has the breakdown of how much goes to the doctor/s and what goes to the minor. The amount going to the minor is then put into an account that can only be accessed pursuant to a court order. Once the minor reaches the age of majority, the minor can then do whatever they want with the money.

While a minor, the account can only be opened if money is needed for treatment or care related to the injuries suffered by the minor. It cant be opened for normal needs, vacations, etc.