Maryland puts a child's net settlement of $5,000 or more in a statutory trust that only a court can release
Maryland handles tort money for minors under Estates and Trusts 13-403, which requires payment to a trustee when the net sum is $5,000 or more, 13-405, which limits withdrawals, and 13-406, which sets the court petition for withdrawals. A minor is defined in 13-401, and the deadline for a minor in Courts 5-201.
See when a court gets involved in a child's settlement, how the statutory trust and its investments work, and what we found about attorney fees in a child's case.