Under Ohio law, if a minor who is a resident of Trumbull County is settling a claim (for example, a personal injury action) application is made to the Trumbull County Probate Court for approval of the settlement and authorization to enter into a release on behalf of the minor. When the settlement is approved by the Trumbull County Probate Court, the terms of the settlement are binding upon the minor.
Minor settlements are filed for claims of any amount. However, if the net amount to be received by the minor exceeds $25,000.00, the applicant will need to file both a guardianship and a minor settlement.
The Court requires several documents to be filed in minor settlement cases. A list of those documents is contained in the minor settlement checklist. Those documents assist the Court in determining whether a proposed settlement is in the best interest of the child.
Generally, the Court requires that the proceeds paid to a minor in a minor settlement proceeding be paid into an approved special needs trust, structured, or placed in a restricted account in the minor's sole name until the minor reaches the age of majority.