Withdrawing Funds from a Blocked Account
Funds belonging to a minor because of a settlement or judgment are either invested or placed into a blocked bank account, or both. The only exception is that, in most states, if the minor’s funds do not exceed a certain, low amount, the funds are entrusted to the parents. For more information about settlements of claims by minors, see Structured Settlements on the Dog Bite Law website.
The blocked funds can only be released by the Court itself. This requires the parents to present their request to the Court. The method for making this request differs from state to state.
Instructions for blocked accounts in California
To withdraw funds from a minor’s blocked account in California, you need to get a Court Order. To do so:
- Fill in Judicial Council forms MC-357 and MC-358. The first is an application for the Court Order, and the second is the Court Order itself.
- Sign MC-357.
- Make three copies of both forms, so that you have a total of four of each.
- Go to the courthouse with the forms, the copies of the forms, and at least two checks.
- Go to the courtroom of the judge who issued the Order Approving Minor’s Compromise or the judge who currently does minor’s compromises. Ask the clerk in that courtroom to ask the judge to sign MC-358. Be sure to have a check with you, in case you are asked to pay a filing fee. Also take a pen and notebook so that, if the Clerk gives you instructions applicable to that courthouse, you can carry them out correctly.