questions & answers

Question: I was suppose to receive 25,000$ when I turned 18. Well when I turned 18 and tried to see if the money was in my bank account they had told me it was all spent. How would the bank let my parents withdraw my money? I'm the one who sufferd from my car crash, is it against the law for the bank to let my parents withdraw all of that money? Because I never seen a dime.

Answer: Usually parents may not withdraw money from their child’s settlement awards. However, a parent may access funds in a minor’s settlement award for the purpose of paying medical expenses or for the minor’s care. If money has been placed in a restricted account, a parent can request permission from the court to use the money for specified needs regarding the unexpected care of the child due to the injury in which the child received the settlement award. However, the court will usually not grant permission to use the money for regular care of the child, such as food, clothing or shelter, because parents are required by law to provide these types of things. The parent must use the money for the purpose that they specified when they requested the permission. (http://www.superiorcourt.maricopa.gov/sscDocs/pdf/pbgcr10pz.pdf)