On July 24th, 2018, Piccuta Law Group obtained an order approving a settlement on behalf of three children whose mother was killed as the result of a car accident in September 2016. The crash occurred at an intersection when the vehicle being driven by the mother entered an intersection and was collided into by a truck traveling at a high rate of speed. Who caused the collision was unclear and contested. At least one eyewitness claimed that the mother proceeded into the intersection against a red light. The police report also found the mother to be at fault for causing the collision based upon the eyewitness testimony.
Piccuta Law Group was hired to represent the surviving beneficiaries of the mother. This included her three minor children and both of her parents. Despite the findings of fault in the police report and the eyewitness testimony, the firm was able to secure a favorable settlement. The firm successfully negotiated and secured a six-figure settlement for the maximum insurance available from the other driver who was operating the truck. The firm then sought approval of the settlement for the minors as required under law. On July 24th, 2018, the Court approved the settlement.
In California, when a lawsuit or claim is settled on behalf of a minor a petition to approve minor compromise must be filed and granted. The petition discloses the settlement, the terms and how the settlement funds are to be distributed and secured. Typically, one of the parents of the minor is appointed as a guardian to safeguard the settlement funds and to follow the order issued by the court on how to handle those funds.
The settlement funds belong to the minor. This procedure ensures that the settlement funds are not wrongfully spent or used by a parent or anyone else who has no right to use them. Often, the Court will order that the funds be deposited into a federally insured restricted account where they may not be withdrawn without a court order. The court requires that the bank that will be holding these funds comply with the order by having a representative certify the same under penalty of perjury. When the minor reaches the age of 18, he or she may then seek release of the funds for his or her use.
If you or a loved one suffered serious injuries as the result of a car accident in Monterey or the surrounding areas, contact one of our attorneys today. We are available now to discuss your case and provide a free consultation.