Structured Settlements for Minors

Structured Settlements for Minors In legal cases involving children, they may receive a large sum of money through a settlement. Structured settlements are often used to ensure the funds are conserved until the child reaches 18. How Minors Benefit From Structured Settlements • Tax-free income • No maintenance fees • Fixed rate of return • Regulated by insurance commissioners in all 50 states • Protected funds until the child reaches 18 Designing Structured Settlements for Minors Courts seek to: • Ensure that the child receives the funds they are entitled to. • Ensure that the money grows over time. • Protect the funds from potential misuse by parents or guardians. • Prevent the child from spending the money all at once. • Ensure that the money lasts over an extended period. The Plan Can Be Designed To Provide For: College tuition • Down payment or purchase of a car • Down payment or purchase of a house • Regular cost-of-living adjustments