Despite the considerable time, effort and resource spent successfully prosecuting an injured infant’s claim of medical negligence, much work remains when the litigation ends.
A competent adult plaintiff is able to execute a general release and other papers necessary to finalize a settlement, and may then receive the proceeds free and clear without any constraints. This is not true in the circumstance of an infant or an incompetent plaintiff. The settlement in such a case must first be approved by the court in a compromise order, which provides for the collection and allocation of the settlement proceeds. Once this is done, there often remain significant matters concerning the appropriate legal and financial vehicles for using and protecting the child’s assets. These issues are the subject of this month’s column.
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