Central District Consumer Bankruptcy Attorney's Association

The recovery belongs to the minor and therefore is not property of the
estate. Minors' recoveries are typically placed in a blocked account that
is not accessible by the parent without court authorization (Prob. C
3600-3613 for minor's compromises in PI cases) or in a structured annuity.
If there are no parents, a guardianship of the estate is established so the
guardian can use the funds (under court supervision) for the benefit of the
minor. See Prob. C 3400 et seq.
When the minor turns 18, the property is their's to do with as they please.
If the minor is incapacitated, a conservatorship must be established when
they turn 18 so the funds can be accessed.
Pat
Patrick T. Green, Esq.
Fitzgerald & Green, Attorneys at Law
1010 E. Union Street Suite 206
Pasadena, CA 91106
Ph: (626) 449-8433
Fax: (626) 449-0565
pg23@earthlink.net
Tyson Takeuchi
Sent: Thursday, June 09, 2005 3:13 PM
To: cdcbaa@yahoogroups.com
Subject: [cdcbaa] Dependent's PI Case Property of Parent's Bankruptcy
Estate?
Prospective client is the mother of a 4 year old child who has a PI
case pending, (he was hit by an automobile). Settlement amount may
exceed $250k. Mother is guardian ad litem for son in the lawsuit.
Question 1: is son's lawsuit property of mother's bankruptcy estate?
if yes, can suit be prospective award be protected under CCP 704.140
(a)?
Thanks,
Ty Takeuchi
Yahoo! Groups Links

The post was migrated from Yahoo.

I would venture that the claim belongs to the child not the debtor and she
is holding it for his benefit, she has no ownership interest, in fact they
have special rules for minors compromises for that purpose.
CS
Charles Shamash, Esq.
Caceres & Shamash, LLP
8383 Wilshire Boulevard, Suite 1010
Beverly Hills, CA 90211-2409
Phone: (323) 852-1600 X 101
Facsimile: (323) 852-9009
Tyson Takeuchi
Sent: Thursday, June 09, 2005 2:13 PM
To: cdcbaa@yahoogroups.com
Subject: [cdcbaa] Dependent's PI Case Property of Parent's Bankruptcy
Estate?
Prospective client is the mother of a 4 year old child who has a PI
case pending, (he was hit by an automobile). Settlement amount may
exceed $250k. Mother is guardian ad litem for son in the lawsuit.
Question 1: is son's lawsuit property of mother's bankruptcy estate?
if yes, can suit be prospective award be protected under CCP 704.140
(a)?
Thanks,
Ty Takeuchi
Yahoo! Groups Links

The post was migrated from Yahoo.