Financial Abuse of Settlement Money to Disabled Children

A New York financial adviser illegally invested money from medical malpractice settlements for mentally and physically disabled children, by investing the money in risky bonds, despite the court order that the accounts be invested in low-risk bonds. These accounts, controlled by the children’s guardians, appeared to have been targeted because they were unlikely to notice the unsuitable trading.

Talking with an Orange Park Guardianship Attorney may help alleviate your fears when your disabled child has been awarded a sum of money from a legal settlement. Many Florida parents may not realize that when their disabled child turns 18, he or she becomes an adult and are responsible for their own decisions. This is true, regardless of their developmental disabilities.

It may become necessary for a guardian advocate to be appointed when a disabled child lack some but not all of the decision making tasks necessary to care for his or her person or property. A guardian advocate may consent to medical care, determine residence, and make decisions about social environment, as well as to act as representative payee of government benefits or to seek benefits. If you need guidance in making the decision to become a guardian advocate or to have one appointed, consult with an Orange Park Guardianship Lawyer.

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