Can I get money from a settlement early? 26 Answers as of February 21, 2012

I get $9,000 dollars for a car accident that happened when I was 12. I'm supposed to get it when I'm 18 in 5 months. I don't have a job so I would like the money now. Is there anyway I could get parental consent or anything to get the money early?

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Deal & Hooks, LLC
Deal & Hooks, LLC | Shawn P. Hooks
You can petition the probate court to release the funds early, however, the process may take close to five months from start to finish.
Answer Applies to: Ohio
Replied: 6/14/2011
Howard W. Collins, Attorney at Law
Howard W. Collins, Attorney at Law | Howard W. Collins
In Oregon: Probably not and the process may take longer than the five months until you turn 18.
Answer Applies to: Oregon
Replied: 6/8/2011
Law Offices of Steven A. Fink
Law Offices of Steven A. Fink | Steven Alan Fink
First, you need to have a good reason for getting the money early. Medical need, college tuition or the like. Just wanting it is not good enough. Second, you need your parents to agree. Finally, you have to go to court and get a judge to agree and order the money released.
Answer Applies to: California
Replied: 6/8/2011
Richard E. Lewis, P.S.
Richard E. Lewis, P.S. | Richard Eugene Lewis
Probably not. If the matter was handled properly, there was a guardian ad litem, which means a guardian for a limited purpose. You would need that individual to recommend early distribution and then submit an order to the court approving the releasing the money to you. I think it would all depend on what you want the money for now. Good luck.
Answer Applies to: Washington
Replied: 6/8/2011
Harris Law Firm
Harris Law Firm | Paul Vames
If the money was deposited in Oregon, the answer is "probably not." In general, money cannot be removed from a minor's settlement account unless (1) the court issues an order allowing withdrawal of the deposited money, (2) the minor reaches the age of 18, or (3) the minor dies. Simply not having a job is probably not sufficient reason for the court to issue an order allowing withdrawal. If there are dire circumstances (e.g. serious financial need or a verifiable illness), you might be able to convince the court to allow withdrawal early. If that is the case, speak to an attorney and explain the circumstances of your situation.
Answer Applies to: Oregon
Replied: 6/8/2011
    Law Office of Travis Prestwich, PC
    Law Office of Travis Prestwich, PC | Travis Prestwich
    Unfortunately there probably is no economical way to get to the money now. Anything you could do, i.e. request it of the court, file for emancipation, etc., would cost money probably at least a third of what you are to get. So, it probably is better to wait out the five months until you are 18 and get it then. You also could apply for a loan through a bank or credit union and pledge those funds. I would not suggest any of those companies that offer you money now for rights to your settlement or a portion thereof due to the fact that these companies typically charge at least 50 percent interest.
    Answer Applies to: Oregon
    Replied: 6/8/2011
    David F. Stoddard
    David F. Stoddard | David F. Stoddard
    There are companies that will purchase your right to receive a settlement in the future. They will pay you a discounted amount now and you assign your right to receive the settlement in the future. However, I do not believe you can do this if you are a minor. One problem is that contracts with minors are unenforceable. Therefore, you assignment might not be valid. One company that advertises this service is hG or GG Wentworth, or something like that . You could always check with them or one of the other companies that does this and see if you can do it.
    Answer Applies to: South Carolina
    Replied: 6/8/2011
    Law Offices of Earl K. Straight
    Law Offices of Earl K. Straight | Earl K. Straight
    It depends. You didnt say where the money is now. Normally this type of case is settled by use of a friendly suit and the money is deposited into the registry of the court. Since you are still a minor, your parents would have to petition the court on your behalf for some or all of the money. Courts and judges are usually hesitant to release any funds early, so you would have to have an extraordinary reason to convince the court for an early disbursement. Its not impossible, but it is difficult.
    Answer Applies to: Texas
    Replied: 6/8/2011
    Law Offices of Steven R. Kuhn & Associates
    Law Offices of Steven R. Kuhn & Associates | Steven R. Kuhn
    You would have to go to court and request the early release of the money. Your guardian from the lawsuit would have to agree and you would need a very good reason.
    Answer Applies to: California
    Replied: 6/8/2011
    Law Office of William R. Falcone, Esq.
    Law Office of William R. Falcone, Esq. | William R. Falcone
    I can not tell from the question what state you are in. However, I believe your settlement had to be approved by Court order and the first thing to do is review the terms of the Order. Given the relatively small amount of the settlement there was likely no requirement that the money be administered through Surrogate's Court. If that is the case, you would have to petition the court to make a request for early access to the money and make a showing of immediate need for reasons of health, education, or basic support. If not, your money is likely either in an annuity if it was a structured settlement or a simple guardianship bank account if it was a cash settlement. Annuities are promises to pay an agreed upon amount in the future and there would be a penalty for cashing it out early. You would also need the guardian named on the annuity to make the request and sign the paperwork given your age. If it was a cash settlement the guardian on the account would also have to be the one to access the money early. So you can not avoid the guardian's permission unless you petition the court and get their approval to withdraw funds early.
    Answer Applies to: Colorado
    Replied: 6/8/2011
    Michael Anthony Wing, P.C.
    Michael Anthony Wing, P.C. | Michael Anthony Wing
    Yes, but it would likely require court approval. You increase your odds if you plan to use it for improvement, rather than, say "pleasure." For instance, if you were going to a school but needed transportation, a car, or perhaps had a job that required a car. If you just want some spending money, then you will have to wait most likely, until the age of 19 in AL which is the age of majority in this state. Stay well.
    Answer Applies to: Alabama
    Replied: 6/8/2011
    Wilson & Hajek,LLC, a personal injury law firm
    Wilson & Hajek,LLC, a personal injury law firm | Francis Hajek
    Injury settlements for minors can be disbursed before the age of majority under certain circumstances. The first question that needs to be answered is "where is the money?" Are the funds deposited with a court or do the parents have the monies in an account. If the parents have the money, the disbursement should not be a problem as long as the need is documented and the money is spent for the benefit of the minor. If the money is with the court, you will need to petition the court for a disbursement based on current needs. He court has discretion to provide some or all of the money to you based upon need.
    Answer Applies to: Virginia
    Replied: 6/8/2011
    Patrick M Lamar Attorney
    Patrick M Lamar Attorney | Patrick M Lamar
    You could try applying for emancipation but the money, if held in an annuity, is held by contract. I would just wait for the money.
    Answer Applies to: Alabama
    Replied: 6/8/2011
    LT Pepper Law
    LT Pepper Law | Luke T. Pepper
    The terms of the settlement are specific and you would need to hire a lawyer to get the money early. Probably cost you more money than it is worth.
    Answer Applies to: Pennsylvania
    Replied: 6/8/2011
    Law Office of Mark J. Leonardo
    Law Office of Mark J. Leonardo | Mark Leonardo
    If you know the bank where the account is blocked, contact the bank to see if your parents can authorize an early withdrawal of the funds. If they say no, which I suspect they will, you may consider going to the Court that ordered the bank to hold the money until you turn 18. If you can show good cause to the court, perhaps it might order the release of the funds. If you have the court order, it may define the parameters of how you can obtain the funds. If you make a motion to the court, you will need a copy of this order. You should be able to get a copy from the court file.
    Answer Applies to: California
    Replied: 6/8/2011
    Law Office of Sam Levine, LLC
    Law Office of Sam Levine, LLC | Sam L. Levine
    There is a way to obtain the bodily injury claim proceeds from your car accident case earlier, but it normally requires the court to get involved, in which case you should consult with an experienced attorney in your area. Good luck.
    Answer Applies to: Georgia
    Replied: 6/8/2011
    Cody and Gonillo, LLP
    Cody and Gonillo, LLP | Christine Gonilla
    Your parents are in charge until you are 18.
    Answer Applies to: Connecticut
    Replied: 6/8/2011
    Ramunno & Ramunno, P.A.
    Ramunno & Ramunno, P.A. | Lawrence A. Ramunno
    Normally, you would need to petition the court and have a good reason to want the money and interest released, but you would have a better chance at a partial release.
    Answer Applies to: Delaware
    Replied: 6/8/2011
    Kelaher Law Offices, P.A.
    Kelaher Law Offices, P.A. | James P Kelaher
    I really don't have an answer for that as I'm not aware of the terms of the settlement. You need to call the lawyer who handled the case for you; he or she should be able to give you an answer.
    Answer Applies to: Florida
    Replied: 6/8/2011
    Magnuson Lowell P.S.
    Magnuson Lowell P.S. | Richard S. Lowell
    Highly unlikely. Undoubtedly, the $9,000 was put into a blocked account under the direction of a court order. If that's the case, parental consent won't do it. You would need a new court order. You would have to file a motion with the court; and convince the court that due to an emergency situation, you should be given the money early. This is highly unlikely - and probably not worth the time or money making the request. I would suggest gutting out the last 5 months and getting the money on your 18th birthday.
    Answer Applies to: Washington
    Replied: 6/8/2011
    Ewusiak & Roberts, P.A.
    Ewusiak & Roberts, P.A. | Christopher J. Roberts
    Most likely given your minor status, the settlement was approved by a judge which means you would need to petition the judge to have the funds released early. He/She may go along with such a request, but only if there is a significant reason. If the funds are in the form of an annuity, you would incur a substantial penalty for withdrawing early. There are companies that would probably pay you part of your $9K immediately in exchange for an assignment to them of the settlement once it becomes payable, but they charge a huge fee. You would receive a lot less than $9K, which seems to me to be a bad idea given that you're only talking about a few months' wait. So the short answer is that there probably are ways that you could get (some of) the money early, but it would likely cost you a big chunk of the settlement either in legal fees or penalties. Unless you have a compelling need, you are probably better off waiting a few months.
    Answer Applies to: Florida
    Replied: 2/21/2012
    Lyle B. Masnikoff and Associates
    Lyle B. Masnikoff and Associates | Lyle B. Masnikoff
    You need to speak to guardian of the money.
    Answer Applies to: Florida
    Replied: 6/7/2011
    Allen Murphy Law
    Allen Murphy Law | W. Riley Allen
    It probably was placed in a restricted guardianship account and, thus, not likely, but you first need to determine where and how the money was placed.
    Answer Applies to: Florida
    Replied: 6/7/2011
    Ackley Law Group, PLLC
    Ackley Law Group, PLLC | Andrew N. Ackley
    In order to disburse funds from a minor settlement blocked account, you need a court order. Because an independent settlement guardian ad litem determines that the funds should be blocked until you reach the age of 18, parental consent is typically not enough for the judge to allow you to disburse the funds. In circumstances of hardship, however, a judge may approve disbursement. Typically the lawyer who helped you with the settlement will assist you in getting the money out free of charge.
    Answer Applies to: Washington
    Replied: 6/7/2011
    Klisz Law Office, PLLC
    Klisz Law Office, PLLC | Timothy J. Klisz
    It depends on where it is coming from. If you are in probate court, you could ask the Judge to obtain it early. If it is with a structure company, you are out of luck.
    Answer Applies to: Michigan
    Replied: 6/7/2011
    Rothstein Law PLLC
    Rothstein Law PLLC | Eric Rothstein
    A judge would have to approve.
    Answer Applies to: New York
    Replied: 6/7/2011
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