Access to your settlement fund is determined by the court in the initial agreement. If your money is in a trust, there are two main scenarios that can happen:
Traditional settlement
Structured settlement
In a traditional settlement, you are able to collect the full amount of money from the trust fund.
In a structured settlement, there are agreed upon (by your parents/guardians) percentages and dates regarding the amount of money you can withdraw. For example, when you turn 18, you may have access to 10% of the fund, after which you get another lump sum from the settlement fund on an every-three-years schedule. This is typically what happens when a minor receives a settlement.
Find out more about how to get a structured settlement here.