Parents and your settlement money

I am 16 years old and was in a car wreck when i was fourteen. my final settlement from the car wreck was 29500.

I recently found out my parents spent my money. I was informed anything over 10000 could not be touched till your 18.ii have copy's of everything that was took out of my bank account.

I was needing to know the laws on receiving money from a car wreck when your underage? can I sue my parents and lawyer for letting it happen? I need to know my legal rights.



Answer:

Hello,

Well, most states require that settlement that large be put into trust for the benefit of the child. The insurance company should have requested such trust. Your Parents might be liable to you for that.

This is an area that is specific to state law and therefore, you are encourage to talk to a local attorney and see if there is something you can do. It's very possible that you do have rights either against your parents or the insurance company.


Good Luck,
Auto Insurance Claim Advice
Spokane Washington