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Blind Trust privacy and control of funds

Topic closed. Posted 5 years ago. No replies.

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New Member
United States
Member #120568
December 22, 2011
11 Posts
Posted: December 22, 2011, 8:46 pm - IP Logged

from eHow

"For many people, the most unappealing aspect of the blind trust is giving complete control to the attorney.

However, the trusts are created through an agreement between the executor and the beneficiary. You can outline what things the executor is allowed to do with the funds.

You can also revoke a blind trust at any time, if you add this provision into your agreement in the beginning."

(revoking a blind trust will give all the assets to the trustee, so you definitely want to avoid that)
Question is if a Blind Trust agreement can be written in a way that ensures that only you will receive the funds in the manner and timing which you wish.
-The agreement could be written that after the lottery funds are received and held in the trust   they are to be immediately transferred to the beneficiaries' (your) bank account. (easiest if lump-sum payout)

-It could be written that the funds cannot be transferred, moved, distributed, etc anywhere other than the beneficiaries' bank account.
You could find a lawyer whom you trust in general,  and discuss and prepare a sample trust agreement (unsigned).
Then take the agreement to a few other lawyers, and ask them if the trust would ensure that you would receive all the funds as desired.