A BLIND TRUST to claim anonymously?

Reply #13

dvdiva — Fri, 28 Apr 2006 05:16:34 GMT

It's up to the states to allow trusts to claim prizes or not. Where I play in the N.W. BC Canada and Oregon don't allow trusts to claim tickets, Washington does. Blind trusts are formed for specific legal reasons. I'd check with a real lawyer before you do anything. Also rules on trusts vary state to state.

Reply #12

KY Floyd — Thu, 27 Apr 2006 21:06:27 GMT

If you're asking about residency, then the answer is no. If you buy a ticket, win, and then move before claiming it there's nothing to prevent you from claiming it as a resident of the state you moved to. Unless the state you moved from has stupid legislators writing their tax laws you'll still owe taxes to that state, and you should also expect to pay income tax as a resident of your new state, as well.

If your question is really as simple as it sounds, the answer is yes. Why on Earth would... [ More ]

Reply #11

mylollipop — Thu, 27 Apr 2006 05:36:23 GMT

Is there a rule somewhere that says you must claim your prize in the state you purchased the ticket in, i.e., a Powerball or MegaMillions ticket

Reply #10

npatel — Thu, 20 Apr 2006 04:46:07 GMT

I know a little bit about Blind Trusts from reading a book called The Wall Street Journal's Guide To Personal Finance . It's the same data as stated by Uncle Jim so I won't repeat it again.

Now, one can form a Blind Trust and then later on transfer the money from a Blind Trust to your name, another trust, etc... Whatever you want to do.

I checked with my state (Illinois) and the winning ticket holder has to take part in a public press conference. I think in only one state (Deleware... [ More ]

Reply #9

Uncle Jim — Wed, 19 Apr 2006 02:12:18 GMT

Nice try goose but from what I gather the laws will not let you do that. You can set up a trust and name yourself as a beneficiary and trustee...but you can't do it with a Blind Trust.

(I already looked into that.)

Jim

Reply #8

savagegoose — Tue, 18 Apr 2006 23:55:06 GMT

I gather you move to ohio, and setup a blind trust, then have the trust claim the win from virginia.

on the topic of setting up a trust. Say you set up the trust with you as trustee, of a blind trust? and not name the benificiary? ie yourself?

you can then claim, you are being paid by an old pal, to administer the trust for their benefit!!

sort of a double blind trust hehehe

Reply #7

spy153 — Tue, 18 Apr 2006 15:48:47 GMT

well, in virginia (where I play the megamillions) it the state's law that the winner is public knowledge. No blind trusts allowed. what do you do then

Reply #6

gy65 — Tue, 18 Apr 2006 15:40:31 GMT

A Nevada Spendthrift Trust might be an option.

Reply #5

Uncle Jim — Tue, 18 Apr 2006 02:46:21 GMT

This is a great topic and I'm suprised it didn't get more posts. I've been studying Lotteries for about a year now and here's what I've been able to gather about Blind Trusts:

First there is not a lot of information on the web available about Blind Trusts. Many sites will mention the different types of trusts but say nothng about how to set up a Blind Trust.

From what I can gather Blind Trusts were conceived and set up so that the beneficiary of the trust has absolutely no idea where the... [ More ]

Reply #4

savagegoose — Sat, 15 Apr 2006 22:47:13 GMT

http://www.pueblo.gsa.gov/cic_text/money/trust-fund/trusfund.htm#info

more info on trusts, seems estate tax is avoided if it is a irevocable living trust.

prob what a blind trust is.

Reply #3

nannyn — Tue, 11 Apr 2006 23:12:56 GMT

Relinquishing one's rights of disclosure pertinent to one's assets doesn't

make much sense... and yet these blind trusts are used consistently by

large jackpot winners, according to data published in the news.

So there must be more to them that makes employing them worthwhile.

This is one of the best forums on lotteries on the net. Is it possible that

no one here knows about this very important topic

Reply #2

savagegoose — Tue, 11 Apr 2006 17:58:06 GMT

NOT MUCH HELP BUT HERE IS A STORY FORM AUST ABOUT AN AUSTRAlian using a blind trust, while on a board. and giving information to the trust or advice about share trading, a big no no.

yes i been searching about a blindd trust also

http://www.smh.com.au/news/business/its-a-joke-but-its-not-funny/2005/07/22/1121539148326.html

the search continues

Reply #1

sfilippo — Tue, 11 Apr 2006 16:51:50 GMT

A blind trusts do give one anonymity for collecting a sum of money or assets but it also relinquishes their rights of disclosure as to be informed by that person or institution how those assets are being invested. Found that much info so far. Still searching for more...

A BLIND TRUST to claim anonymously?

nannyn — Tue, 11 Apr 2006 15:49:19 GMT

This inquiry started in the thread "How do you claim a $267,000,000 prize?"

but I'm moving it under a topic more likely to attract the attention of those

specifically interested in this subject.

In that thread I inquired about smart ways to claim your jackpot winnings

that would allow one to preserve anonymity, minimize taxes and maximize

protection... Unfortunately, all replies there were just cheap and unhelpful

comments, really. I was surprised when I later got a wealth of info after... [ More ]