MS HB80

Creates Section 93-20-433 to allow chancery courts to dispense with forming a conservatorship when a minor receives settlement funds, instead authorizing the petitioner to assume conservator duties with court approval.

Requires the judge to investigate settlement fairness, verify the minor's best interests are protected, confirm a reasonable plan exists for fund management, and obtain parental agreement that proceeds belong to the minor.

Permits courts to require structured settlements when deemed substantial and allows petitioner reimbursement for necessary expenses only, with funds applied solely to the minor's support, care, education, health, and welfare.

Petitioner must adhere to conservator standards of care and comply with Section 93-20-418, seeking court authorization for powers enumerated in Section 93-20-414 unless waived by the court order.

Brings forward Section 93-20-431 allowing transfers up to $25,000 per twelve-month period to guardians, custodians, financial institutions, or ABLE accounts without conservatorship appointment; takes effect July 1, 2025.