Raleigh Car Accident Lawyer | When a Minor Receives a Personal Injury Settlement
What happens when the victim of a motor vehicle accident is under the age of 18 and they receive a settlement? In North Carolina, victims who are minors who receive a settlement from a personal injury case must follow certain laws. The laws provide that the Clerk of Superior Court (in the county where the case was filed) must hold the settlement funds until the victim reaches the age of majority, the age of 18.
Two things to consider with this option:
- The money is kept in a fund where it earns a nominal amount of interest.
- The Clerk charges a fee to hold the money.
However, North Carolina offers one exception to this requirement. Raleigh car accident attorney Brent Adams explains the exception in the video above.