Minor Settlements Lawyer – Columbus, OH
Probate Court Laws and Minor Settlements
In the state of Ohio, any settlement on behalf of a minor (Minor Settlement), a person under the age of eighteen, is subject to the approval of the county probate court. A person, usually the parent or parents of the minor, must apply to the county probate court for approval of the settlement of the minor’s claim, indicating how much the settlement is for, the cost for attorneys’ fees, case expenses, any outstanding medical bills or other expenses to be paid back and the net proceeds that will go to the minor.
The net proceeds for Minor Settlements may be placed in either a custodial bank account, such as a Certificate of Deposit (CD), in the name of the parent. The net proceeds, if a significant amount, may also be placed in a structured settlement which would make periodic payments to the minor at certain ages after the minor turns eighteen.
With 29 years of experience, Robert D. Erney can assist you with obtaining probate court approval of any Minor Settlement. We can also assist you in determininng whether to place the net proceeds in a custodial bank account, such as a CD, or into a structured settlement. Let our law firm help you with your probate court needs. Contact Robert D. Erney & Associates today!