2016 Louisiana Laws
Code of Civil Procedure
CCP 4521 - Payments to minor

TITLE VII-A. ADMINISTRATION OF COURT JUDGMENT IN FAVOR OF MINOR

Art. 4521. Payments to minor

            A. When a minor is to be paid funds as the result of a judgment or settlement, the court may order any of the following:

            (1) That the funds be paid directly into the registry of the court for the minor's account, to be withdrawn only upon approval of the court.

            (2) That the funds be invested directly in an investment approved by the court.

            (3) That the funds be placed in trust in accordance with the Louisiana Trust Code.

            (4) That the funds be paid under a structured settlement agreement that provides for periodic payments and is underwritten by a financially responsible entity that assumes responsibility for future payments.

            (5) Any combination of Subparagraphs (1) through (4) of this Paragraph.

            B. In determining whether a proposed periodic payment schedule is in the best interest of the minor, the court shall consider the following factors:

            (1) Age and life expectancy of the minor.

            (2) Current and anticipated financial needs of the minor.

            (3) Income and estate tax implications.

            (4) Impact on eligibility for government benefits.

            (5) Present value of the proposed payment arrangement and the method by which the value is calculated.

            Added by Acts 1984, No. 296, §1; Acts 2008, No. 716, §1; Acts 2015, No. 260, §2, eff. Jan. 1, 2016.