Guardians and Payment Options for a Child's Settlement in Rhode Island

By the FigureMyTax Editorial Team · How we calculate

We did not find a Rhode Island statute on blocked accounts or structured settlements for a child's injury settlement. The probate court may appoint a guardian of the child's estate, and a court order can supersede the parents' natural guardianship.

What the statutes say

R.I. Gen. Laws 33-15.1-1 makes the parents the joint natural guardians and lets a probate court appoint a guardian of the person and estate, whose appointment supersedes natural guardianship. Section 33-15.1-4 gives the probate court of each city or town the power to appoint or approve guardians of minors' persons and estates.

What we did not find

We did not find a statute that tells you where a child's settlement must be deposited, or that regulates structured settlements for minors. We did not read the guardian's duties on investment, bonds and accounts in the rest of chapter 33-15.1. Ask the court what it will require.

Releases up to $10,000

A release of $10,000 or less given by both parents or a custodial parent or guardian is valid and binding on the child; the statute does not say where the money must go.

Next steps

Read why and when a court gets involved and what we found about attorney fees, and see what is left in the Rhode Island minor's settlement calculator.

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