guardian of minor (settlement)

[Buckeye]

My family was in a severe car accident in 93. My daughter sustained serious injury and received a monetary settlement which was placed in CD's in a bank and my wife is the guardian. We have tried to remove about half of the monies by closing one of the CD's and putting the money into a Mutual Fund of which was one of the index 500 funds to keep it on the safe side. All of this had been discussed with the court prior to trying to execute. My question is the court said since the money could not be sequestered in a mutual fund that a bond costing over 1200.00 a year would be required. This was more than the CD made the entire year prior. Can anyone tell us the best way to handle our daughters account? Is there any way to do what is best for her without costing her so much? Any advise would be appreciated. The State of Ohio.

Brian and Kay

 

[ALawyer]

Seek an order of the court authorizing the funds -- or a portion preferably -- vested in a specific non-risky fund.