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California probate code sections 3611 d 94

Trust Agreement to Hold Funds for Minor Resulting from Settlement of a Personal Injury Action Filed on Behalf of Minor 2025

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The document is a Trust Agreement established to manage funds awarded to a minor as a result of a personal injury settlement. It outlines the roles of the Guardian and Trustee, the terms for managing and distributing the trust funds until the minor reaches a specified age, and various powers granted to the Trustee. The agreement is irrevocable and requires court approval for any amendments. It includes provisions for income distribution, handling of principal, and stipulations regarding the death of the beneficiary.

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We have answers to the most popular questions from our customers. If you can't find an answer to your question, please contact us.

What is the threshold for a minors compromise in California?

Settlements Under $5,000 This is because California law permits Judges to order the funds to be paid directly to custodial parents if the total settlement is $5,000.00 or less. If the total settlement for the minor exceeds $5,000.00, then a Minors Compromise and a subsequent hearing must commence.

What is a personal injury settlement trust?

A personal injury trust is a legally-binding document that allows you to hold and manage your compensation in a separate bank account, protecting it from assessment for means-tested benefits and ensuring it can be spent as originally intended.

What does minor settlement mean?

A compromise of a minors claim is when an adult executes a settlement agreement on behalf of a minor child. This is necessary because children under the age of 18 are not legally able to enter contracts in California.

Can I gain access to my childs settlement money in New Jersey?

This means the funds can only be accessible by the minor upon reaching 18. However, as a parent, you might have situations where it seems necessary to access the settlement funds. This requires a court order or authorization from the UTMA custodian.

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