Actually it is a misconception that wealthy people manage their money on their own.  Most all truly wealthy people...people who run businesses, long time successful celebrities and athletes, entreprenuers, and inventors utilize a team of advisors that include lawyers (for the specialized areas of need), financial and estate advisors, CPAs, and business advisors to help them make sound decisions with regards to their wealth.  The do it yourself fad that swept over us in the 90s largely was taken up just by the middle class, which might explain why the middle class is worse off today than a decade ago despite the run ups in both the stock and real estate market.  So just say no to all those "do it yourself" investment company commercials.  So it is not a bad reflection on a person if they have a competent and trustworthy team of advisors helping them out.  On the contrary, I believe it is a person with poor judgement who thinks they can handle every aspect of managing their wealth WITHOUT the aid of legal, financial, tax, and business experts.  You say that you are poor now...hmmm, take a look at the people with which you surround yourself...take their incomes and divide it by the number of people involved to arrive at an average.  If the average income is just about where you are now, I highly recommend that you change your circle of friends...IMMEDIATELY!!!  It is true that the company you keep has a direct reflection on you...and how successful (or not) you will be in the future.

I'm impressed! I love  how this winner set things up. I don't think I will take 3 months unless it takes a full 3 months to get all this down airtight. Who knows, maybe it did take this long to hammer this out. 

If I read this right, the winner has a limited partnership that claimed the lottery winnings, but then also legal entities to protect the LP. Each entity would have to have papers drawn and tax IDs created. Before they even start creating the entities, they have to create the master game plan. Doing this right could take some time. And who knows what snags they had along the way that may have held things up.

The only other thing I could say to do is have more than one "winner" stand at the podium. I'm sure I can find some random people I or my kids (both in college) know who for $12k would gladly stand at the podium wearing sunglasses posing as "family members".

Congrats to the winner and all her (his?) smart moves!

I'm impressed! I love  how this winner set things up. I don't think I will take 3 months unless it takes a full 3 months to get all this down airtight. Who knows, maybe it did take this long to hammer this out. 

If I read this right, the winner has a limited partnership that claimed the lottery winnings, but then also legal entities to protect the LP. Each entity would have to have papers drawn and tax IDs created. Before they even start creating the entities, they have to create the master game plan. Doing this right could take some time. And who knows what snags they had along the way that may have held things up.

The only other thing I could say to do is have more than one "winner" stand at the podium. I'm sure I can find some random people I or my kids (both in college) know who for $12k would gladly stand at the podium wearing sunglasses posing as "family members".

Congrats to the winner and all her (his?) smart moves!

Doesn't that also depend on the state? Don't some states require the legal entities to be disclosed in public records?

Doesn't that also depend on the state? Don't some states require the legal entities to be disclosed in public records?

Original Post by ConstantlyB

Now I feel like she's an LP FAMILY MEMBER if she's not a member she is indeed the spouse of a member. She has exhibited some strong LP family member traits ya'll.

 I thought the same thing when I read the article.

I can't tell from this angle....if it were a frontal view I could tell better. She may have extensions...lol...for added fullness.

Now I feel like she's an LP FAMILY MEMBER if she's not a member she is indeed the spouse of a member. She has exhibited some strong LP family member traits ya'll.

NOW THAT'S APPLYING WHAT YOU HAVE  LEARNED!!!!!

A good rule of thumb is that the creation and existence of a legal entity is a public record. How many details about that entity are considered a public record will vary from state to state. Generally it would be wise to figure that there will be at least one person that is the representative of an entity, and the name and address of that person will be public. That person can be the attorney representing the actual owner(s) of the ticket. It would be wiser still to consult an attorney when the specifics of the law that applies to you become important.

I would guess that many of the states that say you can't remain anonymous are simply offering a generalized answer. They'll release information about the winner, but that doesn't mean the winner has to be an individual or individuals. Unless the state requires that the prize be claimed by the individual(s) who own the ticket, creating a trust or other legal entity should allow you to make some information harder to find.