My ex-husband died in a car accident and I'm trying to file a lawsuit for wrongful death on behalf of our 3 daughters. Can I have executor over their settlement or will his mother have to have executor? I want my children to be able to benefit from the settlement right away. I don't want to have to put it in a trust snd wait until they are 18 and up for them to start benefitting from it. They are ages 9, 8, and 5. If I have to put it in a trust for them then that's what I will do but I definitely do not want his mother to have power over their money.
1 Answer from Attorneys
You need to speak with their personal injury attorney about this. The short answer to your question is that, yes, you can be the guardian (what you are calling the "executor") regarding settlement and that the money will almost certainly be held in trust at least until the children are 18. In most circumstances, the judge must also approve the settlement and the trust it will be placed in for the children. Neither you nor your deceased husband's mother will have access to the funds. Only the children will have access.