I know that most lotteries state that the winner(s) cannot remain anonymous. I kind of understand the logic behind this to "somewhat" ensure that the winner is not associated with the lottery.
From what I understand, you don't "have" to appear in public getting pictures taken, etc, but the lottery board will still make your general info publicly available. Things like your town, state and last name of the winner(s).
Let's say I win $10 Million and want to remain anonymous. There are a lot of reasons for this - not wanting to get bombarded by people trying to get your money is probably one of the biggest, but what about the the potential security risks involved with the general public [good and bad] knowing who you are, how much you won and where you live... it's not really that hard to dig up info on people.
Could I get away with opening a Trust Fund [or similar], assign an executor with implicit instructions as "me" as the sole benefciary and let the trust fund cash it in?
2007-12-07 11:25:16 · 9 answers · asked by Anonymous in Business & Finance ➔ Personal Finance
You can form a lottery "club" but you have to do it BEFORE you win.
When it comes to some multi-state lotteries, like Mega Millions you HAVE to do the publicity and CANNOT opt out. If you opt out, you violate the terms and conditions and so they don't pay you.
In my opinion, the money would be worth it. I would just have to learn to say "no" more often.
2007-12-07 11:31:00 · answer #1 · answered by Gem 7 · 0⤊ 1⤋
Montana Lottery Winners
2016-10-07 03:41:33 · answer #2 · answered by theodoropoulo 4 · 0⤊ 0⤋
The short answer is no.
In the real world, smart lottery winners get connected to financial planners, lawyers, and managers who specialize in sudden wealth and who are familiar with the lottery process. They walk you through the process and charge you a pretty penny.
Trust funds, corporations, and other non-real people entities are barred from claiming prizes under almost every way and in every state at this point. The only exception I know of is that an estate can claim a prize if it can demonstrate the deceased purchased the ticket while living (the estate itself cannot have bought the ticket)
I should also point out that a trust will not shield you from discovery. (1) People with enough money can and will find out everything they want to. (2) Trusts are public entities and subject to a very active body of law-- most information is in the public view if you know where to look.
2007-12-07 11:39:19 · answer #3 · answered by Anonymous · 2⤊ 2⤋
Yes you can and you should. What you should do is the following:
Obviously before you do this you should fill out the back of the ticket and photocopy it. And until you have all your ducks in a row...put the ticket in a safe deposit box.
1. Hire a team of financial advisors
2. Create a revocable trust
3. Apply for an EIN
4. Transfer the ticket into the trust
5. Have the trustee redeem for benefit of trust
After this take some time off...you have alot of planning to do!
2007-12-08 17:09:13 · answer #4 · answered by misshusa 1 · 3⤊ 0⤋
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2014-10-09 09:02:09 · answer #5 · answered by Anonymous · 0⤊ 2⤋
If you have won or ever do win then you'd go out and get professional advice. You'd want tax advice (from an accountant or lawyer) and planning advice. They should be able to help you with this question, too.
But I completely understand your point. I live in a very violent and poor city, I sure as he-- wouldn't want my picture on a billboard holding some big fake check - at that point they might as well put my address on a rolling message board underneath the billboard, too.
2007-12-07 16:42:29 · answer #6 · answered by voluntarheel 5 · 0⤊ 0⤋
I doubt you can actually hid you identity. One approach to dealing with people trying to get the money would be to inform anyone that asks that any future contact will be considered harassment and met with legal action. You may not have a case, but you can threaten to BURY them in legal fees. As for knowing where you are, I would form a corporation, trust, or other legal entity and relocate to a home owned by the corporation, trust, etc. As another answer stated, this will not hide the information from everyone, but it will stop the average person searching property records for your name.
2007-12-07 13:27:07 · answer #7 · answered by STEVEN F 7 · 0⤊ 1⤋
Probably not. Most lotteries require your name to be posted. It's part of the advertisement that real folks win.
But don't worry too much about it. Chances of you actually winning a big lottery pot are pretty slim. But good luck.
2007-12-07 11:32:45 · answer #8 · answered by bdancer222 7 · 0⤊ 1⤋
if you are smart, that's what you will do.
2007-12-07 11:31:03 · answer #9 · answered by Anonymous · 0⤊ 3⤋