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trust

Topic closed. 3 replies. Last post 5 years ago by Raven62.

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pueblo Co 81002
United States
Member #85104
January 9, 2010
1 Posts
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Posted: March 1, 2010, 8:42 pm - IP Logged

 

Hi everyone. This is long. Please share your thoughts.


The customary approach would be to establish two (2) trusts. The first trust would be, with the grantor's/winner's name (e.g., your name) disclosed on the face of the trust agreement. However, when a lottery claim is made by a "blind trustee", it is not unusual for the lottery commission involved to require the trustee/claimant (who is the "agent" for the "undisclosed/anonymous"

 

actual winner) to provide a copy of the trust agreement "under which" the claim is being made. You do not want the "real" winner's name to show on the trust agreement presented to the lottery commission as documentation with the "blind trustee's" claim, you can add provisions to the first trust agreement that direct the "blind trustee" to establish a second trust for the sole purpose of pursuing and collecting the lottery prize anonymously.

 Thus, the second trust agreement identifies the "agent" (usually, the same trustee as under the "first trust") as the "grantor" and "trustee", stipulating that the grantor has established the trust for the specific purpose of claiming the prize on behalf of an undisclosed Beneficiary or Beneficiaries (who are identified in the "first trust" but not under the "second/blind trust").

 Also You just need to add a stipulation/direction that reserves to you, personally, the right to direct when/how/where the funds are to be transferred to your account by the trustee. The actual "account details" need not be spelled out in the trust (but should be spelled out in a separate, written direction from you to the trustee. You can name the second trust anything you want to just so it's not your name. As soon as the winnings are collected, the second trust will distribute the winning to the first trust and the second trust will terminate.

    Guru101's avatar - rw6jhh
    Indiana
    United States
    Member #48725
    January 7, 2007
    1841 Posts
    Offline
    Posted: March 1, 2010, 8:57 pm - IP Logged

    I think there are laws to prevent this.

    Gonna win.Big Smile

      jrosina's avatar - k3 34.jpg
      New York,
      Panama
      Member #73078
      April 4, 2009
      3482 Posts
      Offline
      Posted: March 1, 2010, 9:23 pm - IP Logged

       

      Hi everyone. This is long. Please share your thoughts.


      The customary approach would be to establish two (2) trusts. The first trust would be, with the grantor's/winner's name (e.g., your name) disclosed on the face of the trust agreement. However, when a lottery claim is made by a "blind trustee", it is not unusual for the lottery commission involved to require the trustee/claimant (who is the "agent" for the "undisclosed/anonymous"

       

      actual winner) to provide a copy of the trust agreement "under which" the claim is being made. You do not want the "real" winner's name to show on the trust agreement presented to the lottery commission as documentation with the "blind trustee's" claim, you can add provisions to the first trust agreement that direct the "blind trustee" to establish a second trust for the sole purpose of pursuing and collecting the lottery prize anonymously.

       Thus, the second trust agreement identifies the "agent" (usually, the same trustee as under the "first trust") as the "grantor" and "trustee", stipulating that the grantor has established the trust for the specific purpose of claiming the prize on behalf of an undisclosed Beneficiary or Beneficiaries (who are identified in the "first trust" but not under the "second/blind trust").

       Also You just need to add a stipulation/direction that reserves to you, personally, the right to direct when/how/where the funds are to be transferred to your account by the trustee. The actual "account details" need not be spelled out in the trust (but should be spelled out in a separate, written direction from you to the trustee. You can name the second trust anything you want to just so it's not your name. As soon as the winnings are collected, the second trust will distribute the winning to the first trust and the second trust will terminate.

      Hope clue me in,customery??? Like this is done all the time?

      forget what "they" say about youWhat you say about you?...

      Now, does it count??

       

       

      *Jr$ina

        Raven62's avatar - binary
        New Jersey
        United States
        Member #17843
        June 28, 2005
        17937 Posts
        Offline
        Posted: March 1, 2010, 10:47 pm - IP Logged

         

        Hi everyone. This is long. Please share your thoughts.


        The customary approach would be to establish two (2) trusts. The first trust would be, with the grantor's/winner's name (e.g., your name) disclosed on the face of the trust agreement. However, when a lottery claim is made by a "blind trustee", it is not unusual for the lottery commission involved to require the trustee/claimant (who is the "agent" for the "undisclosed/anonymous"

         

        actual winner) to provide a copy of the trust agreement "under which" the claim is being made. You do not want the "real" winner's name to show on the trust agreement presented to the lottery commission as documentation with the "blind trustee's" claim, you can add provisions to the first trust agreement that direct the "blind trustee" to establish a second trust for the sole purpose of pursuing and collecting the lottery prize anonymously.

         Thus, the second trust agreement identifies the "agent" (usually, the same trustee as under the "first trust") as the "grantor" and "trustee", stipulating that the grantor has established the trust for the specific purpose of claiming the prize on behalf of an undisclosed Beneficiary or Beneficiaries (who are identified in the "first trust" but not under the "second/blind trust").

         Also You just need to add a stipulation/direction that reserves to you, personally, the right to direct when/how/where the funds are to be transferred to your account by the trustee. The actual "account details" need not be spelled out in the trust (but should be spelled out in a separate, written direction from you to the trustee. You can name the second trust anything you want to just so it's not your name. As soon as the winnings are collected, the second trust will distribute the winning to the first trust and the second trust will terminate.

        Which Trust Pays Income Tax? Or maybe both Trusts have to Pay Income Tax?

        Either way: The Government Wins when You Win!

        A mind once stretched by a new idea never returns to its original dimensions!