Computation Of Attorney Fees Form Page 31
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60Adopted: 2/1/05
Revised: 8/1/14
LOCAL RULE 68.1
SETTLEMENT OF MINOR’S CLAIMS
(A)
The Court shall require the appointment of a guardian of the estate for any claim in which
the net amount of the settlement is greater than the amounts set forth in R.C. 2111.05 and
2111.18.
(B)
A certified copy of the minor’s birth certificate must be filed with the application to settle
the minor’s claim.
(C)
If the settlement of the minor’s claim involves a structured settlement, the structured
settlement shall be reviewed by the Court before the application for settlement is filed.
The application shall also include a statement of the total cost to the defendant of the
settlement. This statement shall be used to fix and determine attorney fees.
(D)
If the settlement is to be funded by an annuity, the annuity shall be provided by an
annuity carrier that is licensed to write annuities in Ohio. The annuity carrier must have a
minimum of $100,000.00 in capital and surplus, exclusive of any mandatory security
valuation reserves. The annuity carrier must have one of the following ratings from the
following rating organizations:
(1)
A++, A+ or A from A.M. Best Company;
(2)
AAA, Aa1 or Aa2 from Moody’s Investors Service;
(3)
AAA or AA from Standard’s & Poor’s Corporation.
(4)
AAA, AA+ or AA from Fitch Ratings.
(E)
The annuity carrier issuing the annuity contract may not enter into an assumption
reinsurance agreement for the contract without the prior approval of the Court, the owner
of the contract, and the claimant having the beneficial interest in the annuity. In all
instances of reinsurance, the broker or annuity carrier shall provide the Court with an
affidavit to certify that the carrier meets the standards set forth in this rule.
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