Lottery Legal Considerations
Lottery Legal Considerations
setting up a trust for lottery winnings
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Taxes: A trust can hold the winnings to minimize taxes · Privacy After Death: If you are also worried about keeping your winnings and assets private, creating a
Determining who is going to claim the prize, personally or by a created entity; Establishing proper entities or trusts for the winnings; Establishing an estate
setting up a trust for lottery winnings Speak with your estate lawyer about setting up a revocable trust to which you can make changes as needed Retrieve the lottery ticket and have
setting of the lottery However, under certain circumstances, the prize winner's estate or trust may have the option to receive all future payments as a one-time, net present-value