Chris discusses what happens financially if a child is injured in an accident.
This is a great question. It happens in every state. If you think about the stories you've read about children that were actors and their parents spent all their money, and when they grew up, they had no money.
Those situations happened a lot back in the 30s and 40s and 50s. Laws have been passed in almost every state that say if a child gets money, in this case in an accident, that money has to be put aside for the use and benefit of that child. Oftentimes someone is supervising the investments and whether or not that money can be doled out to the child or not.
So, the answer, in general, is the child gets it when he reaches the age of majority which in some states is 18 others is 21.
I'm Chris Parks. I'm a lawyer in Boulder. Call me if you have any questions about this.