Help!!!

[prncssshckr]

What is the name of your state? Illinois

My case is somewhat complicated. I was in an accident when I was 14 and I recieved a settlement as a result of my injuries. I let my father take care of the legal stuff and because I was a minor at the time I couldn't legally take the money. I am now 19 and my father still hasn't given me the money. He says that he invested it in stocks and lost it. Since he wasn't supposed to be allowed to touch it, does he owe me the full settlement? I know that he used almost half of it for the deposit on our apartment. Is it rightfully my money, or am I just out of luck?

 

[lwpat]

Since you have posted this on the small claims board I am assuming that you are talking about a relatively small settlement. It would be impossible for us to answer the question since we do not have the ability to examine the documents involved.

Lets assume that you simply turned over the money to your father with no documentation. If he used it for your welfare; clothes, rent and etc. you have little chance of collecting. If you take him to court this will probably be his defense.

The judge would have to make a decision based on the evidence.

We also have no way of determining the relationship between you and your father. Where family is concerned that is sometime more of a consideration than the money. Be thankful that you have learned a valuable lesson at an early age. You cannot trust anyone, including family, with your money. Greed does unbelievable things to people.

 

[prncssshckr]

I examined the court order and it states that he was not allowed to withdraw this money from my bank account without a court order. He did not have a court order and he withdrew it and put it into an etrade account. He was not allowed to spend this money at all. I didnt know where else to post, but the money he owes me is greater than 10,000. also does anyone know if there is a statute....against filing a claim after 1 year?

 

[lwpat]

You need an attorney to help you sort this out since there is an existing court order. Most initial consultations are free. If you cannot afford an attorney check for a legal aid office in your area.

You can locate an attorney through the link on this board or send me an email and I will forward some resources.

Good luck.

 

[ohfiddle]

The banking institution could also be liable for releasing the funds without a court order. They did not uphold their fiscal responsiblity to you, the beneficiary of the account. If your dad said he used half of the settlement for a deposit on an apartment, I'm assuming that the total settlement was $5,000 or less, so you may have trouble finding an attorney to help you, but at least give it a try. You may want to file a small claims action against both the bank and your father.

 

[prncssshckr]

I talked to an attorney and the bank is not responsible since they would not know about the court order....they just saw that my father was the guardian of the account....therefore he had the right to withdraw and close the account. The total settlement was 20,000, but after lawyer fees and medical bills it was 10,000. The deposit on the apartment was 4,000 since it was more of an equity investment. We get the money back when we move out plus interest. So it will be about 7,000 when we move out in May of 2004. The problem is that my father refuses to talk to me about it. I am in the process of looking through all the files and figuring out what is important and what isnt. But he is definitely in the wrong for taking the money out of the account in the bank specified on the court order. What really complicates things is that my grandfather was president of the bank(he is retired now) so that made it very easy for my father to access this account.

 

[ohfiddle]

I'm in California, and I know the laws vary from state to state. Here in California, if there is a settlement involving a minor, it must be approved by the Court, in a petition for minor's compromise. Proof must also be filed with the court of the deposit of the settlement funds into a blocked or trust account, in the minor's name. The bank is provided with the Court's order, which includes language that tells the bank that funds must remain in that account until further Court order, or until the minor reaches the age of majority. I am surprised that Illinois does not have similar laws on the books to protect the interests of minors.