CA INJURED KIDS | CHILD BLOCKED ACCOUNT: In regards to a Minor Child's Settlement for bodily injury in California, what is a Blocked Account?

A:

A minor's Blocked Account in California is any bank account in any U.S. federally insured bank (or any deposit in a Triple AAA rated Investment Vehicle such as an annuity, etc.) in which the account where the settlement funds from a bodily injury settlement are deposited for the benefit of the minor child, and withdrawal of any settlement funds is blocked unless approved by the California Superior Court, or until the minor child turns 18 years old in which he or she would have full access to all settlement funds.

The goal behind blocked accounts in California is to protect the settlement funds from any unscrupulous interest (this includes parents or close family members) since the settlement funds are the child's settlement funds.  If early withdrawal (before child turns 18 year old) is needed, substantial need would need to be demonstrated by the Guardian Ad Litem of the child with substantial proof that the withdrawal of funds would directly benefit the child (for tuition, or the like).
 

More Legal Questions About San Diego California Child Injury Accident Cases?

Do you have more legal questions about San Diego California Child Injuries & Accident Cases?  Return to the California Child Injuries & Accidents Frequently Asked Legal Questions page. 
 

The Law Offices of Mark C. Blane, APC

GOLDEN EAGLE PLAZA

525 B Street, 15th Floor

Toll Free:  (888) 845-6269

Direct:  (619) 813-7955
The San Diego Child Injury & Accident Attorney that offers FREE Child Abuse Legal Help Books  to anyone BEFORE they speak to a Lawyer, or a Claims Adjuster, and signs any Forms; Mr. Blane also WROTE the BOOK on child injuries in California and it is available for purchase at his San Diego Child Injury Online Store; also he represent clients across Southern California including the following areas: 

Alpine, Bonita, Camp Pendleton, Cardiff by the Sea, Carlsbad, Chula Vista, Coronado, Del Mar, Downtown San Diego, El Cajon, El Centro, Encinitas, Escondido, Imperial Beach, Julian, La Jolla, Lakeside, La Mesa, Lemon Grove, National City, Ocean Beach, Oceanside, Pacific Beach, Poway, Ramona, Rancho Bernardo,San Marcos, Santee, Rancho Bernardo, Ramona, San Diego, Solana Beach, Spring Valley, Pacific Beach, Ocean Beach, San Ysidro, Julian,Lakeside, Vista and all other areas in San Diego County. We also proudly serve the following Southern California areas of: Imperial,Riverside, Orange, Los Angeles, San Bernardino, Santa Barbara, San Luis Obispo, Ventura, and Kern Counties.