Is it possible to break a trust? 10 Answers as of January 28, 2013

My 2 children were in a car accident about a year ago. They were with their older cousin. My children are under 18. The accident wasn't the cousin's fault and so therefore she went after the other party's insurance. The car that was driven was in her mother's name. My children didn't suffer any injuries, the youngest who is nine just had an asthma attack. The cousin however received injuries. I've been told that there is basically going to be 3 settlements. For the car because it’s in another’s name and not the driver, for my children, and for the cousin. The children just went to the doctor once but the cousin has been multiple times, and for the cousin. Is that how the settlement is supposed to work. There is a lawyer involved now, and I signed some paper work. I've learned now that the money for the kids is in a trust. I didn't exactly read the papers, but can I go into the trust to get the money? Is there anyway, the cousin could've said she was the guardian to get the money in trust? She hasn't settled on her end yet because she's still going to the doctor.

Ask a Local Attorney. 100% Anonymous. Free Answers.

Free Case Evaluation by a Local Lawyer: Click here
Law Offices of Ronald A. Steinberg & Associates | Ronald A. Steinberg, BA, MA, JD
You either have to show some form of fraud, or show that the grantor was demented and was incapable of making a valid trust or a valid gift to the trust. You need a "heavy hitter" probate lawyer. Frankly, in all likelihood you are not going to be successful, and it could cost you a ton of money.
Answer Applies to: Michigan
Replied: 1/28/2013
Law Offices of Mark West
Law Offices of Mark West | Mark West
Since the children are minors, their settlement money must go into a blocked interest bearing account until they are 18 when the money will be turned over to them. Unless there is some emergence for the children, no you cannot get the money.
Answer Applies to: California
Replied: 1/16/2013
Paul Whitfield and Associates P.A.
Paul Whitfield and Associates P.A. | Paul L. Whitfield
Get all this straight. You said the kids were not hurt. they went to the doctor. What kind of settlement do you expect for the kids? $100, $300? Or some such small amount. The money is normally held by the court til the kids are of full age (18) forget it and get on down the will not get anything on any account
Answer Applies to: North Carolina
Replied: 1/10/2013
John Russo | John Russo
First of all why do you want the money if it is for the benefit of the children? Looks to me as though someone was on top of this for the right reasons, the children are the injured parties not you, they are to young to take at this point so the funds are being placed in trust until they become of age, this was a good move on someone's part.
Answer Applies to: Rhode Island
Replied: 1/10/2013
David F. Stoddard
David F. Stoddard | David F. Stoddard
The children's money will go into trust because they are the one's injured. It is their money, not yours. You will not be allowed to spend their money. The attorney can explain it in more detail.
Answer Applies to: South Carolina
Replied: 1/10/2013
    Gates' Law, PLLC | Thomas E. Gates
    Because the children are under the age of majority, the money must be placed in a trust or a blocked account. The terms of the trust defines how the money is to be distributed.
    Answer Applies to: Washington
    Replied: 1/9/2013
    Law Offices of George H. Shers | George H. Shers
    You need to speak to the attorney involved. The insurance company will make the settlement through you but make the payment in your children's names. The money is their and not your.
    Answer Applies to: California
    Replied: 1/9/2013
    Victor Varga | Victor Varga
    You have to ask the lawyer as you are already represented.
    Answer Applies to: Maryland
    Replied: 1/9/2013
    Greer Jackson Tisinger, LLC | John Jackson
    If the net settlement to the Minor Child is less than $15,000 dollars then no trust is needed. The money goes to the Guardian. It doesn't sound like the settlement would have been more that 15k. You should consult with your attorney.
    Answer Applies to: Georgia
    Replied: 1/9/2013
Click to View More Answers: