Has anyone had to sign guardianship papers during a lawsuit that involves one of your children. My daughter and I were in a horrible accident and we are suing State Farm and the driver. We were asked to sign guardianship papers because my daughter is only 11 years old and if she wins her part of the case her funds are to be placed in trust until she reaches the age of 18. The guardianship attorney says that the funds can be used for medical expenses, school expenses, first car etc. He says that we have to petition the court for any withdrawal. Does anyone have any experience with this? What was the process in the courts? Thanks for your help!
Sounds like a great thing the courts are doing. I've not heard of it. But a lot of parents would spend the money and leave nothing for the child.
I hope you both are okay and won't be in too much pain because of this.
actually I have heard of this type of guardianship--it is to insure that the funds are used for the benefit of the child. At this point, you may not realize some future medical costs that may occur, so by keeping the funds tied up, there will be money to cover those costs. Good luck!
Never heard of that before. I think the lawyer is full of it. I would be finding a different lawyer. The money should go to you as you are her parents and she is a minor. But honestly it's not a bad idea to have it put in a trust as it would be great for her to have some extra cash if she plans on attending college. She will need at least $6,000 the first semester just for room and board if not more. I think the trust is a great idea unless you really need the money now.
While I am not one to sue because I think too many people do it simply to gain $$ (NOT SAYING YOU ARE) I think the courts are looking after her. I think it is a great idea to keep parents from taking the child's money.
Too many parents would see a larger payday and never take care of the child. IF you win, at least put it in a fund ONLY for her for future medical expenses and college.
Like I said, I don't know your personal situation but if you have to sue, take care of your child first.
I would ask your attorney to explain the process in your state courts for handling this money. Each state can have different laws and court processes.
I have some experience with guardianships for minors - my stepchildren had funds for college that their grandparents were guardians over until they turned 21. This caused some issues because the grandparents are one step removed from the children's needs and they started college at 18, not 21...
In your case, you as parent will likely be named guardian, and if you have a true reason to use the money for your child's needs before she turns 18, the court will likely release the money. If you believe the money will be a large amount, I would ask about the possibility of retaining control longer, because 18 year-olds may not be at the best age to come upon a large amount of money all at once (education suddenly may look less necessary than a new car or a trip, for instance).
My friend took her husbands little brother in and had guardianship of him. He had been seriously injured at the age of 20 somethings months because he fell into a swimming pool of an abandoned house that had dead animals, glass, broken tile, etc...in it and was in a coma for 1 1/2 months. His mom only came one time to see him so it was easy for them to get a judge to sign the guardianship papers. The child was awarded a HUGE sum of money. They went before the court for school clothes, church camping trips, anything extra he wanted or needed. My friend's husband worked as a jailer and she was disabled so their income was not great, okay but not great. When the boy turned 18 he got the lump sum and bought a new truck and bunch of clothes and spent it all on drugs and a girlfriend. He blew it all in a few months. He was not able to handle it.
This is extremely common when suing over a traffic accident. We set up conservatorships (sometimes called guardianships) every time there was a minor involved in a lawsuit for the exact reason stated by your attorney. Far too often parents take whatever settlement money a child is awarded and spend it on themselves. If your child is awarded money for pain and suffering, etc. then in the eyes of the law that money belongs to her. That being said, chances are you are going to be named the conservator/ guardian so you will be controlling the money anyway. As a conservator/ guardian you simply petition the Court when you want to withdraw money indicating why your child needs the money prior to attaining the age of 18. As long as you give a good reason you will get the money.
My now deceased husbands parents sued their homeowners insurance for a hefty sum of money when my husband was injured by a neighbor in front of his home. The girl threw an iceball that had been in the freezer for two days...he was six, she 13. This cause all kinds of problems with his eye, brain surgeries and so on, his medical problems lasted for years. His MOTHER kept this money for herself, ended up cutting him out of her will and gave all the money to his sister!! He was a wonderful son and father to our children, he went to college, became established...never any problems, a son any parent would be proud to have, only his mother didn't see it that way! Her loss, hope she rots!!
