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why you should set up a anonymous trust as opposed to cashing a lottery ticket as an individual

rockyfatcat

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https://www.msn.com/en-us/news/us/a...name-public-she-refuses/ar-BBIK91R?li=BBnb7Kz

Do it right and the only people on this planet who know that you are the lottery winner is you and your attorney.

In November 2015, Craigory Burch Jr. matched all five numbers in the Georgia Fantasy 5 drawing and won a $434,272 jackpot, The Washington Post’s Lindsey Bever reported.

Two months later, police said, Burch was killed in his home by seven masked men who kicked in his front door. His family members said the public announcement of the lottery winnings had made him a target.

“When they came in, he said: ‘Don’t do it, bro. Don’t do it in front of my kids. Please don’t do it in front of my kids and old lady,’ ” his girlfriend, Jasmine Hendricks, told WALB-TV at the time. “He said, ‘I’ll give you my bank card.’ ”

Abraham Shakespeare won a $30 million lottery prize in 2006. Two years later, he was approached by Dorice “Dee Dee” Moore, who said she was writing a book about how people were taking advantage of him. She soon became his financial adviser and slowly siphoned away his money, according to Fox News.

“She got every bit of his money,” Assistant State Attorney Jay Pruner said in closing arguments. “He found out about it and threatened to kill her. She killed him first.”
 
https://www.msn.com/en-us/news/us/a...name-public-she-refuses/ar-BBIK91R?li=BBnb7Kz

Do it right and the only people on this planet who know that you are the lottery winner is you and your attorney.

In November 2015, Craigory Burch Jr. matched all five numbers in the Georgia Fantasy 5 drawing and won a $434,272 jackpot, The Washington Post’s Lindsey Bever reported.

Two months later, police said, Burch was killed in his home by seven masked men who kicked in his front door. His family members said the public announcement of the lottery winnings had made him a target.

“When they came in, he said: ‘Don’t do it, bro. Don’t do it in front of my kids. Please don’t do it in front of my kids and old lady,’ ” his girlfriend, Jasmine Hendricks, told WALB-TV at the time. “He said, ‘I’ll give you my bank card.’ ”

Abraham Shakespeare won a $30 million lottery prize in 2006. Two years later, he was approached by Dorice “Dee Dee” Moore, who said she was writing a book about how people were taking advantage of him. She soon became his financial adviser and slowly siphoned away his money, according to Fox News.

“She got every bit of his money,” Assistant State Attorney Jay Pruner said in closing arguments. “He found out about it and threatened to kill her. She killed him first.”
I was always under the impression that if you won part of the stipulation was that the lottery could make it public .
 
I was always under the impression that if you won part of the stipulation was that the lottery could make it public .
I guess you didn't bother to read the article...

The state allows people to form an anonymous trust.

In 2008/2009 the biggest lottery (at the time) was won by a family who established a trust. The state prohibited anonymous lottery winning. The result was Trust claimed the lottery anonymously.
 
I went back and read it. If I were to ever win I'll see a good accountant first before I take any action.
Close, no cigar! But thank you for playing! The law office is the first stop. There are some unique particulars to a trust. First the trust controls all the money.

For example you and I hold identical winning lottery tickets. I stop by and sign a contract with my favorite million dollar mouthpiece (aka trust lawyer). He arrives coincidentally to the lottery office just as you are signing your lottery ticket and claiming your half of the winnings. You smile, and have your name and image plastered for everyone to see. After the government takes half of your winnings in taxes you walk out with 25% and look forward to paying for extra security and income taxes on all your investments etc.

My lawyer presents the trust paperwork and he and I are the only two people on the planet who know. He gets a check for 50% of the winning (yes, twice as much as you).

So, you spot the advertisement for the collection of 10 Ferrari's for sale. If you were to buy it, great! Only going to grow in value. If the trust were to buy it. The trust owns it as an investment and the purchase is not a disbursement, and all of the expenses (insurance, registration, maintenance) associated with it are disbursements and are taxable. Remember, you are going to NEED the accountant for all your taxes on all of your cash and all of your investments.

The trust has 2x the money that you do. The trust grows tax free. The trust only pays taxes when they disburse money. So when I need an anonymous donation to the local high school for band uniforms, or another 10k prepaid visa card fedexed to the beach hut I am currently staying at. The Trust will pay the appropriate taxes and I'll have another cerveza.
 
https://www.lotterypost.com/news/318251

Georgia bill would allow lottery winners to remain anonymous — for a price
The bill would require winners seeking anonymity to give up to 4 percent of their winnings to the state for officials to manage open records requests and other costs to maintain confidentiality.

And a trust would have the responsibility of ignoring all of the efforts to identify the recipient. Yes there will be a negotiated fee, but you have all of the other benefits including the fact they are managing 2x the money you would have gotten if you had cashed it yourself.
 
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