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If you won a lottery jackpot..........

Topic closed. 26 replies. Last post 12 years ago by CASH Only.

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Would you form a trust and remain anonymous?

Yes , I would stay away from the public eye. [ 40 ]  [83.33%]
No, I would go public. [ 8 ]  [16.67%]
Total Valid Votes [ 48 ]  
Discarded Votes [ 7 ]  
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Baton Rouge, LA
United States
Member #4602
May 7, 2004
699 Posts
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Posted: March 28, 2005, 2:01 pm - IP Logged
Quote: Originally posted by rundown99 on February 18, 2005



Despite the option of forming a blind trust and remaining anonymous, it seems like many people are going public instead.  What are your thoughts?






I think it varies depending on the state.  In some states, a trust or LLC can be used to claim winnings, while in others it cannot.

In my state, winnings can be claimed through a trust and that is how I would do it.  I wouldn't do the press conference, interviews, or anything like that.  I wouldn't go too wild in the beginning with the money, but I would probably pay off the house and the 2 cars we owe money on, and some other debts we have.

I remember reading a story about one big winner in Louisiana who found himself being hounded by people with sob stories, business ventures, charities, and so on.  I wouldn't want to deal with that, which is why I'd stay anonymous.

PrisonerSix


    United States
    Member #379
    June 5, 2002
    11296 Posts
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    Posted: March 30, 2005, 12:10 pm - IP Logged

    Sometimes you don't have a choice.

      rundown99's avatar - cigar

      United States
      Member #567
      August 14, 2002
      484 Posts
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      Posted: March 30, 2005, 12:15 pm - IP Logged

      But in Ohio, there have been plenty of anonymous winners who have formed a trust to claim the prize.

      Smart lottery winners form trust to claim their winnings.  They send an attorney to the lottery headquarters to claim the prize in trust, so that ONLY the name of the trust is revealed.  And they tell NO ONE, especially relatives.

      If you ever win a lottery and you are single, the only person you should ever marry is someone who was truly in love with you BEFORE you won the jackpot!


        United States
        Member #379
        June 5, 2002
        11296 Posts
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        Posted: April 3, 2005, 1:14 pm - IP Logged

        Since I already am part of a trust, I probably wouldn't be able to keep a win secret.

          Avatar
          New York, NY
          United States
          Member #13514
          April 7, 2005
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          Posted: April 8, 2005, 12:44 pm - IP Logged

          I wonder what the rules are for Atlanta?  I would want to stay private.  I would have to change my number with the quickness!!!  I know too many people in NY and ATL.  I would have to go into hiding!!!! 

            rundown99's avatar - cigar

            United States
            Member #567
            August 14, 2002
            484 Posts
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            Posted: April 8, 2005, 3:40 pm - IP Logged

            Actually, I emailed the Iowa Lottery and asked them whether or not a trust can be formed to claim a prize, and this is what they told me:


             


            Thank you for contacting us.  Iowa state law dictates that lottery officials cannot keep winner information secret. However, winners do not have to appear before the press or even show up in person to get their check. To our knowledge, only one Powerball member lottery currently permits winners to remain anonymous (Delaware).


             


            State lawmakers want the public to know that the lottery is honestly run. This way, the public can be assured that the prizes are being paid to a real person. We understand your privacy concerns. We recommend that all winners contact an attorney and a financial advisor prior to claiming their prize. Any privacy concerns you may have can be addressed with your attorney.


             


            Thanks for playing!

            Smart lottery winners form trust to claim their winnings.  They send an attorney to the lottery headquarters to claim the prize in trust, so that ONLY the name of the trust is revealed.  And they tell NO ONE, especially relatives.

            If you ever win a lottery and you are single, the only person you should ever marry is someone who was truly in love with you BEFORE you won the jackpot!

              Avatar
              New York, NY
              United States
              Member #13514
              April 7, 2005
              235 Posts
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              Posted: April 11, 2005, 2:59 pm - IP Logged

              I should email and see what kind of response I would get. I would have to collect my winnings with a wild wig, and sun glasses!!!!


                United States
                Member #379
                June 5, 2002
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                Posted: April 23, 2005, 12:17 pm - IP Logged

                Maybe I would too.

                  Whirlwind's avatar - candle
                  Pensacola Florida
                  United States
                  Member #12418
                  March 13, 2005
                  146 Posts
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                  Posted: April 23, 2005, 7:13 pm - IP Logged

                  I would want to stay quite except fromthe group here.... Heck I would have people I have no clue about clamming to be kin to me with hands out......


                    United States
                    Member #379
                    June 5, 2002
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                    Posted: April 26, 2005, 4:47 pm - IP Logged

                    I wouldn't be able to hide behind my trust.

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                      New Member
                      columbia,sc
                      United States
                      Member #8188
                      October 27, 2004
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                      Posted: April 27, 2005, 4:42 pm - IP Logged

                      I would go public with it and just laugh at people who ask you for something that you hardly even know or they act like you have always been friends.


                        United States
                        Member #379
                        June 5, 2002
                        11296 Posts
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                        Posted: April 29, 2005, 3:55 pm - IP Logged

                        I would too.