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Question
My question involves a minor son, I was at fault in this and as a result of an auto accident, his leg was broken.
My question is this, my insurance company settled with my ex-wife for bodily injuries, against my wishes, we have joint-legal custoday of the minor child. She supposedly took the proceeds of the settlement and put them into CD's and I am wondering if the insurance company was right to do allow this or if I should have had to sign off on the offer as well. Please let me know.
Thanks.
Hi Jeff,
You state that your son's injury was due to your being at fault in an accident.
This means that you and your insurance company were the defendants in the injury claim.
Since you were the defendant, you can't also be a claimant. Your insurance company couldn't get you to approve the settlement of a claim that was filed against you.
It sounds like the entire matter was handled properly.
In most states, a minor's claim must be approved in court by a judge who then orders the settlement funds be placed in a trust fund until your son becomes of legal age, then he can withdraw the proceeds.
You should be able to learn from your insurance company if your son's claim was handled in such a manner.
I hope this information has been of help.
Your feedback by rating my answer will be appreciated.
Sincerely,
Bennie
San Francisco Bay Area
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| Rating(1-10) | Knowledgeability = 10 | Clarity of Response = 10 | Politeness = 10 |
| Comment | Not the answer I had hoped for, I just didn't think that my parental rights would be waived. I was the defendant, sure, but also the father. Our state says that any amount over $10,000.00 must go before a judge. They offered eight. I negotiated to 10,500.00 with the adjuster and thought it was going to a judge. I left the proceeding and my ex-wife asked for just under 10,000.00 and took the proceeds. Thank you for your prompt response to this original question. | ||
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Answers by Expert:
Bennie719
Expertise
I have extensive knowledge in Personal Auto, Homeowners Insurance and Personal Umbrella coverage. I am also thoroughly familiar with claims handeling procedures. Will answer questions related to the above.
Experience
Experience in the area: Served as an expert at askme.com from 7/2000 thru 10/2002 in the catagories of general insurance, auto and home insurance. Answered 422 questions before that site closed. Licensed in California since 1961, first in Life and Health for 2 + years and as a Property/Casualty Agent/Broker since 1964. I sold my business and took early retirement in 1998. Still maintain a valid California Property/Casualty Agent/Broker license.
I have been a volunteer at allexperts.com since 2002. I can provide assistance in the following fields: Property and Casualty Insurance, Insurance Law, Auto Insurance Claims.
Education/Credentials
not applicable
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