First and foremost, you get a "say" in the settlement amount being offered to the minor child; meaning, the minor child's personal injury lawyer will discuss with you directly the settlement amount being offered, why it is being offered, and whether or not it is a fair offer or if a lawsuit needs to be filed for whatever reason. You get to give your thoughts on all of this.
Second, and just as important, you act as a "trustee" for the settlement funds until the minor child turns 18 years old which means you safeguard the funds for the benefit of the child. More specifically, any requests for early withdrawals must be petitioned and granted by the California Superior Court, and all court filings for such must go through you. If this never occurs, then you are the merely the contact person in regards to the minor's child settlement funds.