When you were a kid you had an accident that scarred you you were told that when you are 18 you will get 9k - 18k you are 16 now Not sure how you will receive the payment?

Answer 1

The following answer is based upon a few assumptions, but the way that the question was asked requires that they be made. When one is a minor (usually, under 18) you do not have the "capacity" (a legal term) to bring a claim in your own name. Therefore, someone, usually a parent or guardian, asserts it on your behalf. The claim may be settled without a lawsuit, or at any time after a lawsuit has been filed. Alternatively, if the other party to the claim was unwilling to settle, you may have gone to trial and been awarded a sum of money.The proceeds of the claim (the money paid by the other party or the insurance company for the other party) either pays the money to your parent/guardian on your behalf and they take the responsibility of taking care if it, such as by investing it. Sometimes, the insurance company proposes to keep the money and invest it for you in some kind of instrument the bears interest or otherwise increases in value. I assume that the reason your question stated a range of amounts that you would get when you turned 18 is because it was represented to you that you would receive a minimum of $9,000 up to a maximum of $18,000 when you would no longer be a minor. The minimum-maximum amounts may be based on the expected return of the investment(s) made with the proceeds of your claim.Ordinarily, the funds would be paid to you or to your parents/guardians at that time. Barring unusual circumstances, the funds are yours and you can decide what to do with them. Note, though, there may be complexities and circumstances that you have not stated that may alter the outcome. This is intended only as a broad overview and based upon certain assumptions which may or may not apply to your situation.

If a lawsuit was filed for your injuries, it would have been filed by your parent or guardian. This is because, as a minor, you did not have the "capacity" to do so. The parent or guardian has the obligation to keep the money for you until you reach the age of majority (usually 18) in your state. In the meantime, the parent or guardian is usually empowered to use a portion of the money, as reasonably needed, for your welfare. Beyond that, you do not have the right to access the money while still a minor.

Answer 2

If a lawsuit was filed for your injuries, it would have been filed by your parent or guardian. This is because, as a minor, you did not have the "capacity" to do so. The parent or guardian has the obligation to keep the money for you until you reach the age of majority (usually 18) in your state. In the meantime, the parent or guardian is usually empowered to use a portion of the money, as reasonably needed, for your welfare. Beyond that, you do not have the right to access the money while still a minor.