This question came up while I was opening a blocked account for an injured child recently and the answer is no.  Once the blocked account is opened with the bank or federally insured institution, it cannot be touched again without court order, or when the injured child reaches the age of majority (18 years old).

Remember, the entire purpose with an injured child's blocked account is to secure the settlement funds for the injured child until they reach the age of eighteen.  This means the account holding the settlement funds must stay secure.  The only way to do this effectively is to make it a requirement that the funds stay secure by court order.  This makes logical sense too. The courts do not want to make adding or deleting funds from the blocked account a simple ordeal. Everything must be reviewed so that any action relating to the blocked account directly benefit the injured child. The rationale for this comes down to us from a public policy stand point meaning that there is a great need to protect the interests of not only minor children, but injured minor children. Unfortunately, in the past there have been unscrupulous parents who have tried to take advantage of their child's injury settlements. To this end, the courts have responded in a way that protects a child's legal interest.

Some parents have forgotten that the funds are their child's settlement funds even though they (the parents) are named as the Guardian Ad Litem. The court is highly protective over an injured child's settlement funds, as it should be.  For more information on this subject, please check out my articles, blogs and other FAQs regarding child injury settlements in California.
Mark Blane
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San Diego Personal Injury Lawyer