Bill > B26-0056

This bill amends the District of Columbia's laws regarding settlements for minor children in civil actions, establishing new requirements and protections for handling legal settlements involving minors. The legislation mandates court approval for any net settlement of $10,000 or more and provides detailed guidelines for how settlement funds can be managed and distributed. When settlements are less than $10,000, they can be paid via a check made to a trustee, and for settlements of $10,000 or more, the court has discretion to authorize various financial arrangements such as structured settlements, special needs trusts, or pooled trusts. The bill introduces new provisions allowing courts to appoint guardians of property for minors if deemed in the child's best interest, and establishes strict protocols for withdrawing funds. Trustees are now required to deposit settlement funds in financial institutions with federal insurance, and withdrawals can only be made with court approval, typically allowing access to the funds when the minor turns 18 or in specific circumstances like medical expenses or education. The legislation aims to protect minors' financial interests by ensuring judicial oversight of settlement funds and preventing potential misuse of the money.

Justice

https://lims.dccouncil.gov/Legislation/B26-0056