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What happens when a child receives money from a legal settlement?
Whenever a young child receives a financial settlement, the potential for financial fraud exists. Minors don’t have the same rights as adults when it comes to sex abuse settlements. And they cannot enter into any agreements on their own. As a result, this means that they can’t bring lawsuits, make settlement decisions, open bank or investment accounts, fund annuities, or purchase real estate. As a result, a competent adult must perform these acts on the minor’s behalf.
Thankfully, the courts in California supervise sex abuse settlements made to minors. Furthermore, court orders are necessary to approve all forms of sex abuse settlements with minor plaintiffs.
