The Nebraska Statutory Thresholds for Settlements Involving Minors Act establishes standards and procedures for settling claims involving minors. Under this act, a person with legal custody of a minor can enter into a settlement agreement if certain conditions are met, including the absence of a conservator or guardian ad litem, and if the total claim amount does not exceed forty thousand dollars. The act requires the custodian to complete an affidavit confirming that the minor will be fully compensated or that no additional amounts can be obtained from the other party. The attorney representing the custodian must maintain this affidavit for four years after the minor turns twenty-one.

The act also outlines how settlement funds should be managed, specifying that payments must be deposited into accounts established for the minor's benefit, with restrictions on withdrawals. It provides protections for individuals acting in good faith on behalf of the minor, stating they will not be liable for the settlement funds or any claims arising from the settlement. Additionally, the act clarifies that the signature of the custodian on the settlement agreement is binding without the need for further court approval, and it defines a minor as a person under nineteen years of age. The act does not prevent the filing for guardianship or conservatorship to oversee the settlement.