The other answer is mostly correct. However, the court must approve any settlement for the minor and the funds are usually placed in an annuity or a blocked account that cannot be touched until the minor reaches 18 years of age or by court order.
The other answer is mostly correct. However, the court must approve any settlement for the minor and the funds are usually placed in an annuity or a blocked account that cannot be touched until the minor reaches 18 years of age or by court order.
