Probate Court Approval Required
There are restrictions placed on the settlement of claims on behalf of a minor child. Most often, parents of minor children are not permitted to bind their children to settlement agreements. As a result, court approval may be required to resolve a minor child’s claim for personal injury.
Under Arizona law, court approval is always required to settle a minor child’s personal injury claim if the settlement amount exceeds $10,000.00. Furthermore, insurance companies and other adverse parties are entitled to require court approval of minor settlements that are below $10,000.00. Accordingly, courts are frequently called upon to determine whether a settlement is in the best interest of the minor child. If the court does not believe that the minor child’s interests are being protected, it has the right to decline the settlement and appoint a guardian to act on behalf of the minor child.
Other factors that apply to many minor claims include the following:
- The minor’s settlement may be placed in a Restricted Bank Account.
- The minor’s settlement may be used to fund a Structured Settlement.
We represent clients throughout the state of Arizona and are ready to assist you through this difficult time. If your child was injured in an accident, please call the Law Offices of Michael Cordova at 602-265-6700. Our Phoenix Personal Injury Lawyers offer a free, personal, and confidential consultation to answer any questions and to explain your rights.