Parents typically choose a high interest savings account; certificate of deposit that renews every two years; or depending on the age of the child, and the size of the settlement, they choose to deposit funds into a Triple AAA rated investment vehicle, usually an insurance annuity contract.  You can also choose to do both, a deposit of some of the funds in a U.S. bank and the remaining in an investment vehicle.  All of this needs court approval and the Child Injury Law Offices of Mark C. Blane, APC sets all of this up with the court on every minor child settlement he obtains.