My 16 yr. old was in a car wreck.
The money would often be held in trust for minor child until he reaches age of majority. However, before you settle be sure to discuss this issue with your lawyer.
You should talk to social services. In some states the money is reqd to be put in a special account for the minor until he reaches the age of majority. it may or may not be counted for eligibility. Social services and or your lawyer should be able to determine this in your state.
The claim and resulting money is for your child, and will have to be kept in a bank account until he/she turns 18. If your child is receiving benefits of some kind, you should look into a Special Needs Trust. If you also receive any portion of the settlement for loss of parental consortium, that could be an issue with your own SSI benefits. Unless you were also injured, I would avoid taking part of the settlement for yourself. I also advise you to consult a good personal injury lawyer in your area.
It should not affect your eligibility for SSI. The money will be required to go into a guardian's or court controlled account and your son, not you will get it following his 18th birthday
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