Complications with minor's settlement

[lsudrebaby]

In FL, 2 years ago at the age of 9, our daughter injured her knee while jumping on a trampoline at a friend's house. The parent admitted that she was not really watching the children. Our daughter tore several ligaments - she has undergon one surgery already, 2 rounds of physical therapy, and must wear a brace until she is done growing to have another surgery. Time was missed at work and we all have gone through a lot as a family. The friend's homeowners insurance offered a structured settlement of $155K with most of it being paid out when she is 17-22. We were told that the initial payment of $25K could be used as needed by the family. Not so as everything has to be approved by the court according to all the guardianship and waiver release paperwork we received with it. We tried to find away around some of the technicalities, than gave up and went to open the account at the bank designated by the court as the depository. The bank won't accept it! Now we have a check and paperwork and don't know what to do next. I am afraid that time constraints will soon nullify the check and the future payments. Is there anyway to negotiate with the insurance company to settle out of court? Can we do anything with the check that we have (made out to my husband for daughter)? Any suggestions? Oh, we live in AL now.

[ecmst12]

Settlements for minors have to be approved by the court, period.

What did your lawyer say about the check?

[HomeGuru]

Originally Posted by lsudrebaby

In FL, 2 years ago at the age of 9, our daughter injured her knee while jumping on a trampoline at a friend's house. The parent admitted that she was not really watching the children. Our daughter tore several ligaments - she has undergon one surgery already, 2 rounds of physical therapy, and must wear a brace until she is done growing to have another surgery. Time was missed at work and we all have gone through a lot as a family. The friend's homeowners insurance offered a structured settlement of $155K with most of it being paid out when she is 17-22. We were told that the initial payment of $25K could be used as needed by the family. Not so as everything has to be approved by the court according to all the guardianship and waiver release paperwork we received with it. We tried to find away around some of the technicalities, than gave up and went to open the account at the bank designated by the court as the depository. The bank won't accept it! Now we have a check and paperwork and don't know what to do next. I am afraid that time constraints will soon nullify the check and the future payments. Is there anyway to negotiate with the insurance company to settle out of court? Can we do anything with the check that we have (made out to my husband for daughter)? Any suggestions? Oh, we live in AL now.

**A: what is the specific reason that the bank will not honor the check?

[lsudrebaby]

Basically, they don't feel that it is worth the responsibility of being the depository and the paperwork that goes with it. It was not the check that was an issue but the whole structured settlement. they said the account should be set up with a law firm and that the only way that they would take it would be to hold everything until 2049. It wouldn't be able to be used for her future surgery, college anything that way! The attorney for the insurance company (we never hired one and no we can't get anyone to take the case) has not gotten back to us to let us know what to do next. Thanks for the replies.

[lsudrebaby]

Any suggestions on what to do next? Do we have to start all over? Can we deposit the check? It is made out to my husband as the parent of our daughter. The lawyer for the insurance company has been no help and no one seems to want the case. Also, do we have any sort of rights to another settlement for time missed from work or family hardships? Her recovery has taken a lot of work on everyone's part and her younger sister has been unable to participate in some activities because we try to keep things even between them. Plus, if you ask are daughter would spend money on if she could she will say a vacation and to help buy a house. I would apreciaye any ideas on this.