Car accident huge scar on cheek

[akaterbio7]

okay i am just 16 and i got into a car accident and had my seatbelt on and after 3 years finally went to court to receive some money and i got 70 grand then got transferred to a bank and i was wondering if i could use this money or what because my parents are saying i cant intil im 18 but i am thinkin they are just saying this because dont want me to make dumb decisions and blowing my money off.. is there anything that would be stopping me from using this money and is there anything thats stopping my parents from using it legally?


sorry for using improper and internet slang just a habit

 

[irish223]

It depends on the laws in your state, but it's not uncommon that personal injury awards must be invested or put into a trust until the minor is 18. It is also not uncommon that parents/guardians be required to account for any withdrawals.

In other words, your parents are probably telling you the truth, and they are also probably not allowed to touch the money without a compelling reason, such as paying for your medical bills.

It's not only your parents who would be concerned about what a 16yo would do with $70,000. That's why there are laws about it!