The probate court approves a child's settlement
Colorado's procedure is Colorado Rule of Probate Procedure 16, and the court's authority to authorize a settlement is in C.R.S. 15-14-412. Court protection for a minor's conservatorship is set by C.R.S. 15-14-431, and the age of full age by C.R.S. 13-22-101.
See why a judge has to approve the settlement, how restricted accounts, annuities and trusts compare, and how the attorney fee is reviewed in a child's case.