Insured Accounts, Annuities and Trusts for a Child's Settlement in Idaho

By the FigureMyTax Editorial Team · How we calculate

Idaho lets a court approve a deposit, an annuity or a trust for a child in the child's best interests, and lets a payer deliver up to $10,000 a year to a parent, guardian or federally insured savings account in the child's sole name.

The payer's options

Under Idaho Code 15-5-103, up to $10,000 a year may be paid or delivered to (1) the minor, if 18 or married, (2) the person with the care and custody of the minor with whom the minor resides, (3) a guardian, or (4) a financial institution as a deposit in a federally insured savings account in the minor's sole name, with notice to the minor. The payer is not responsible for how the money is used.

How the recipient must use it

A recipient other than the minor or the bank must apply the money to the minor's support and education, may not pay herself except to reimburse out-of-pocket expenses for goods and services necessary for the minor's support, must preserve any excess for the minor's future support, and must turn over any balance and any property when the minor reaches majority.

What a court can add

A court may authorize protective arrangements that include the payment, delivery, deposit or retention of funds, the sale or transfer of property, an annuity contract, a contract for life care, training or education, or a suitable trust, if it is in the person's best interests, and may appoint a special conservator (15-5-409).

An annuity or structured settlement

The trade-off is predictability and protection against spending everything at once, against less flexibility if needs change. The statute lists an annuity contract as an arrangement a court may authorize.

What we did not find

We found no Idaho statute that requires a blocked, court-restricted account, and we did not read the new act effective January 1, 2027. Ask the court what it will require. Then read why and when a court gets involved and what we found about attorney fees, and see what is left in the Idaho minor's settlement calculator.

This is general information, not legal advice, and the state comparisons above are illustrative, not an exhaustive survey. Confirm how Idaho's rules apply to your specific case with a licensed Idaho attorney.