Trust Fund Legalities Explained

Summary

In Pennsylvania, minors settlements are typically placed in trusts to ensure financial stability upon reaching adulthood. The amount of money does not usually affect this decision. Accessing the trust fund early, especially for immediate needs like Christmas expenses, may require court approval. Consulting a local attorney is advisable to understand your specific situation and explore possible options.

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Me and my daughters were in an accident almost 2 years ago and the money that my daughters are getting they're putting it in the trust fund which is not that much are they able to do that they didn't even ask me they just told me what they were going to do.
Hello **** ****, it sounds like you're dealing with a complex issue. To provide more accurate information, could you please tell me which state you are currently residing in? Laws about trust funds for minors can vary from state to state.
Pa
In Pennsylvania, it's common to establish a trust for minors' settlements. It's usually done to ensure financial stability when they reach adulthood. However, the court must approve the establishment of such trusts.
I don't think it's going to be a lot of money I can see if it was alot
Hello **** ****, the amount of money doesn't usually affect the decision to establish a trust. It's primarily meant to safeguard minors' financial interests. Still, you should consult with a local attorney to understand your specific situation better.
But they need that money its Christmas time. N times are hard
Hello ****, I understand your concerns. However, in Pennsylvania, the law aims to protect minors' financial interests. Accessing the trust fund early might need court approval. It's advisable to consult a local attorney for personalized advice.