A. In approving any proposal by which money will be paid to the minor as the result of a judgment or settlement, the court may order that the money be paid directly into the registry of the court for the minor's account, to be withdrawn only upon approval of the court and to be invested directly in an investment approved by the court.
B. In approving any proposal by which money will be paid to an unemancipated minor who is in the legal custody of the Department of Children and Family Services, the court shall order that the money be placed in trust in accordance with the Louisiana Trust Code and the provisions of Article 4269.1.
C.(1) In approving any proposal by which money will be paid to the minor as the result of a judgment or settlement, the court may order that the money be paid under a structured settlement agreement which provides for periodic payments and is underwritten by a financially responsible entity that assumes responsibility for future payments.
(2) In determining whether a proposed payment schedule is in the best interest of the minor, the court shall consider the following factors:
(a) Age and life expectancy of the minor.
(b) Current and anticipated financial needs of the minor.
(c) Income and estate tax implications.
(d) Impact on eligibility for government benefits.
(e) Present value of proposed payment arrangement and the method by which the value is calculated.
A. In approving any proposal by which money will be paid to the minor as the result of a judgment or settlement, the court may order that the money be paid directly into the registry of the court for the minor's account, to be withdrawn only upon approval of the court and to be invested directly in an investment approved by the court.
B. In approving any proposal by which money will be paid to an unemancipated minor who is in the legal custody of the Department of Children and Family Services, the court shall order that the money be placed in trust in accordance with the Louisiana Trust Code and the provisions of Article 4269.1.
C.(1) In approving any proposal by which money will be paid to the minor as the result of a judgment or settlement, the court may order that the money be paid under a structured settlement agreement which provides for periodic payments and is underwritten by a financially responsible entity that assumes responsibility for future payments.
(2) In determining whether a proposed payment schedule is in the best interest of the minor, the court shall consider the following factors:
(a) Age and life expectancy of the minor.
(b) Current and anticipated financial needs of the minor.
(c) Income and estate tax implications.
(d) Impact on eligibility for government benefits.
(e) Present value of proposed payment arrangement and the method by which the value is calculated.
A. In approving any proposal by which money will be paid to the minor as the result of a judgment or settlement, the court may order that the money be paid directly into the registry of the court for the minor's account, to be withdrawn only upon approval of the court and to be invested directly in an investment approved by the court.
B. In approving any proposal by which money will be paid to an unemancipated minor who is in the legal custody of the Department of Children and Family Services, the court shall order that the money be placed in trust in accordance with the Louisiana Trust Code and the provisions of Article 4269.1.
C.(1) In approving any proposal by which money will be paid to the minor as the result of a judgment or settlement, the court may order that the money be paid under a structured settlement agreement which provides for periodic payments and is underwritten by a financially responsible entity that assumes responsibility for future payments.
(2) In determining whether a proposed payment schedule is in the best interest of the minor, the court shall consider the following factors:
(a) Age and life expectancy of the minor.
(b) Current and anticipated financial needs of the minor.
(c) Income and estate tax implications.
(d) Impact on eligibility for government benefits.
(e) Present value of proposed payment arrangement and the method by which the value is calculated.
