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Blind Trust

Topic closed. 6 replies. Last post 4 years ago by ttech10.

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Temecula, CA
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Posted: November 1, 2010, 4:38 am - IP Logged

Can you claim a jackpot prize through a Blind Trust even if you have already signed the winning ticket?

    ttech10's avatar - blobdude
    Texas
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    Posted: November 3, 2010, 7:10 pm - IP Logged

    I'm not exactly sure but since the ticket is a bearer instrument I'd imagine if your name was on the ticket your name would be on the check and in the papers (thus canceling out a blind trust).

      marcie's avatar - Lottery-028.jpg
      Ohio
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      Posted: November 5, 2010, 11:03 am - IP Logged

      Can you claim a jackpot prize through a Blind Trust even if you have already signed the winning ticket?

      Why did you win??

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        Jack-C's avatar - us
        San Diego, CA
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        Posted: November 5, 2010, 11:06 am - IP Logged

        Can you claim a jackpot prize through a Blind Trust even if you have already signed the winning ticket?

        Yes, but you certainly don't want a "Blind Trust".  With a blind trust you would not have control of or the ability to see what was happening in the trust.  I really don't think you want that!! This has been discussed here on LP.  Do a search.

          ttech10's avatar - blobdude
          Texas
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          Posted: November 5, 2010, 4:13 pm - IP Logged

          Yes, but you certainly don't want a "Blind Trust".  With a blind trust you would not have control of or the ability to see what was happening in the trust.  I really don't think you want that!! This has been discussed here on LP.  Do a search.

          If you want to stay anonymous though isn't a blind trust really the only way to go (at least for states like Texas that don't allow you to claim anonymously)? From what I understand about LLCs and regular trusts is that your name is still basically out there.

            Jack-C's avatar - us
            San Diego, CA
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            Posted: November 5, 2010, 9:53 pm - IP Logged

            If you want to stay anonymous though isn't a blind trust really the only way to go (at least for states like Texas that don't allow you to claim anonymously)? From what I understand about LLCs and regular trusts is that your name is still basically out there.

            Same with a blind trust.  A blind trust is used mostly by people that have assets that would be considered a conflict of interest in what they are now doing.  They put their assets in a blind trust.  It is called "blind" because they can not see the assets in the trust and they can not control them, so there is no conflict.

              ttech10's avatar - blobdude
              Texas
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              Posted: November 6, 2010, 7:50 pm - IP Logged

              Same with a blind trust.  A blind trust is used mostly by people that have assets that would be considered a conflict of interest in what they are now doing.  They put their assets in a blind trust.  It is called "blind" because they can not see the assets in the trust and they can not control them, so there is no conflict.

              Yea I know the whole thing about not being able to see the assets and that you don't really have control over the money, but I had read that when you're creating it you could add a stipulation that would pay out whatever money to either yourself or other people and then dissolve the trust. That way you could still be completely anonymous and have control of your money.

               

              Upon reading more about LLC's though, with the use of an attorney and a registered agent your name is still pretty much out of the spotlight. With investigation people can see who owns the LLC but the lottery won't release that info. It's not complete anonymity but it will work for me, only a handful of people would bother looking up to see that I own the LLC, and I believe I could use a P.O. Box so still people wouldn't know my house address.

               

              What's better is I already live 3 blocks from the best law firm here so I wouldn't have to drive far to talk to them about getting everything done. Of course first I have to do the near impossible, haha.