Would you claim your Jackpot winnings through a Trust or Not?

Reply #26

maximumfun — Sat, 20 Jun 2015 11:09:44 GMT

Will I claim my jackpot winnings through a Trust or Not?

Not

Not not by choice but by design. 1. I live in a state where anonymity is not allowed. Bummer, yes I know. 2. I am playing all my tickets in 2 work pools atm. I don't know why - it just has worked out convenience-wize, better for me since work has me traveling and family has taken large dose crazy-pills.

I do think the umbrella insurance idea is a good one. 1 million seems kinda low (greedy-people abound) - so I will... [ More ]

Reply #25

Coin Toss — Sat, 20 Jun 2015 04:40:47 GMT

From the Missouri Lottery website If You Win A Jackpot page:

Do you want to participate in a news conference?

At the Lottery Headquarters, a member of the Lottery's communications staff will ask you questions about your win, such as how many tickets you bought, when you found out that you won and what you plan to do with your prize money. This information will be used for a news release.

You will also be asked, but are not required, to participate in a news conference, most lik... [ More ]

Reply #24

PrisonerSix — Sat, 20 Jun 2015 02:41:41 GMT

I'd probably try to claim as a trust to make it harder to find me. If anyone asks for money, they aren't getting any.

Reply #23

Shelby Mustang — Thu, 18 Jun 2015 23:37:47 GMT

My theory just because people ask you doesnt mean you have to give it to them just say no. im not claiming it in a trust and Im not waiting 3 or 4 months either....My biggest fear is that I'd win on a weekend and have to wait 2 whole days to claim my cash LOL

Reply #22

rcbbuckeye — Thu, 18 Jun 2015 19:37:24 GMT

jj is a troll pure and simple. He posts that stuff to get a response. It worked.

But....it's the last time I ever respond to a comment made by him.

Reply #21

Drenick1 — Thu, 18 Jun 2015 18:30:46 GMT

I agree with you. I don't think any lottery office is obligated or allowed to release S/S numbers or DOB. They normally only release the name and town in which the winner is from.

Reply #20

ThatScaryChick — Thu, 18 Jun 2015 18:17:32 GMT

You've made this comment before and you are still posting misinformation. And yes, Mikeintexas he has said this multiple times and never backs it up with any proof.

Please Jjtheprince, post just one article where a lottery winners social security number has been published. Just one. Or one that has posted someone's street address and date of birth.

Reply #19

mikeintexas — Thu, 18 Jun 2015 17:43:45 GMT

Not sure if it was jj, but that's the second or third time I've seen that same statement. I agree with you - they won't publish an address or d.o.b. (although those things can easily be found out). They definitely won't publish a SS#.

As to the question: No, I wouldn't. If I had children and/or was younger, maybe I would, but probably not. I'm with the others who wouldn't trust anyone besides myself with control over my money...at least not millions. That's just me, though - I'm not parano... [ More ]

Reply #18

Stack47 — Thu, 18 Jun 2015 17:09:23 GMT

Tim Duncan just found out he lost $20 million to his former financial adviser.

Reply #17

rcbbuckeye — Thu, 18 Jun 2015 16:54:34 GMT

I would bet they do not publish a winner's ss number. I seriously doubt they publish street address and dob either.

If you're gonna make stuff up, at least try to be credible.

Reply #16

jjtheprince — Thu, 18 Jun 2015 15:42:24 GMT

Can't do it in my state.

If I were to ever win, I'd have to change my identity and move out of the U.S. unfortunately. My state forces winners to have a public picture/video press conference, publishes their full name, street address, date of birth, and social security number.

How's that for lack of privacy

Reply #15

MaximumMillions — Thu, 18 Jun 2015 12:32:40 GMT

Let's not forget Trump loves attention.

Reply #14

Funtimz — Thu, 18 Jun 2015 09:18:41 GMT

If we're talking about a large jackpot, a trust seems the way to go. But for a few mill I would be wiiling to take my chances. However at the same time if you go through a trust you would have to have a lawyer that you trust (no pun inteded) 100%. So in the end I may just take the money and run...

Reply #13

Stack47 — Thu, 18 Jun 2015 03:37:09 GMT

Talked to a retired co-worker today that won a $10 million before tax jackpot several years ago and he stayed under the radar. If a large jackpot winner decides to continue working, living in the same house, and having the same phone number, they will be easy targets.

American Pharoah took a victory lap at Church Hill Downs last Saturday, but other than that it's old news.

Reply #12

Stack47 — Thu, 18 Jun 2015 03:26:14 GMT

and even without winning a huge jackpot we all should blindly hand all our money over to a financial adviser we just met (before the senators and congressmen get their hands on it).

Reply #11

veganlife125 — Thu, 18 Jun 2015 00:59:00 GMT

If Donald Trump can show the brass and courage to do a live press conference and claim 9 BILLION then we

should be able to show up live and claim 100 million

Reply #10

Drenick1 — Thu, 18 Jun 2015 00:56:55 GMT

If I won a net of +$10 million then without a doubt a trust would claim it.

Reply #9

CDanaT — Thu, 18 Jun 2015 00:18:28 GMT

Under $8 Million???....myself

$9 Million and up ???....Gotta trust the trust

Reply #8

music* — Wed, 17 Jun 2015 19:38:07 GMT

Each State is different when using trusts.

Please remember to buy Umbrella insurance. The first million of coverage will cost $20 per month. I got that number from an advertisement. This will protect you from annoying lawsuits.

Bon Fortuna i.e. Good Luck in Italian

Reply #7

Raven62 — Wed, 17 Jun 2015 13:12:48 GMT

If a blind trust is good enough for senators congressmen then it is good enough for Jackpot Lottery Winners

Reply #6

mypiemaster — Wed, 17 Jun 2015 12:03:17 GMT

Just claim the money and move. I'm not putting anybody in charge of my lottery winnings, no matter how trustworthy, they might seem at the time.

Reply #5

MaximumMillions — Wed, 17 Jun 2015 10:23:37 GMT

If I win in a state that doesn't give the option of anonymity 100% yes.

Obviously I'd make sure it's weirded in a way that not dispensing 100% of the assets would be illegal.

Reply #4

darthfury78 — Wed, 17 Jun 2015 08:46:52 GMT

Maybe the best thing to do is wait around 3-4 months to claim your winnings. There is nothing wrong with setting up a Trust. But be very careful as to who you put in charge of that Trust as there are cases of theft involved.

Reply #3

zinniagirl — Wed, 17 Jun 2015 06:47:56 GMT

Yes, if the state allows, will claim thru a blind trust that automatically transferfs the winnings into another trust within a day. You have no control legaly over your money in a blind trust. You must trust the trustee you chose to properly handle the money for you.

Reply #2

noise-gate — Wed, 17 Jun 2015 05:00:16 GMT

Yeah l am aware of the FOIA Coin, But if you have a pretty good Attorney, he/she could bury your identity so deep that the press or whoever was so interested in finding out who you are could/would say The heck with this, we rather go find out who that female is that K.O''d that guy breaking into her car . if you laid low for awhile, no one would care who won, they would be busy concentrating on the next JP. Think on this : whose really talking about American Pharaoh right Now?..... No One... [ More ]

Reply #1

Coin Toss — Wed, 17 Jun 2015 04:15:23 GMT

From what you posted I'd say yes, go through a trust.......but I do recall some posts here on LP about thanks to the FOIA anyone who wants to can find out who belongs to the trust.

Would you claim your Jackpot winnings through a Trust or Not?

noise-gate — Wed, 17 Jun 2015 03:56:13 GMT

l love this part ...

Confidentiality

*** Winning a large lottery prize can cause you as many problems as it solves. If your name becomes public, you may be besieged by salesmen or requests for donations. Greedy relatives or friends may attempt to enrich themselves at your expense, and you may become the target of unscrupulous people. If you set up a blind trust, however, the trustee may claim the prize on behalf of the trust, and your name need not be made public. * LegalZoom.

***Or wo... [ More ]