Settlement agreements for minors-parental authorization.

Wyoming's HB 131 allows parents or guardians to legally settle minor children's claims (like injury compensation) up to $25,000 without court approval, directly affecting minors and their families. Key provisions require parents/guardians to attest in an affidavit that the claim is under $25,000, make reasonable inquiry into the claim, and apply settlement funds solely for the minor's benefit - either to the parent/guardian or into a trust. The bill creates a new legal cause of action for minors to sue parents/guardians who misuse funds or fail to follow these requirements. This applies only to claims entered after July 1, 2024, and does not affect minors with existing court-appointed conservators or those who are legally emancipated.