I’m guessing that’s probably true everywhere. It’s the same with big winnings at casinos. Part of the deal for big winners is, they can use your name and picture in their advertising.
ETA: BUT… Can a corporation be a winner? More to the point, can a trust be a winner? If you could set up a trust and let that trust claim the prize, can the principal hide behind that and stay anonymous? Even in California?
A trust cannot claim a prize in CA. There is no way around this. There are a few states where this will work though.
I find it strange that anyone is surprised that lottery winners get a lawyer. I am nowhere in the neighborhood of rich but I “have” a lawyer. He isn’t sitting around on permanent retainer waiting for my call but is on the end of the phone for a property tax inquiry, in his office for a change to my will and I bet he remembers who I am when I ring him to tell him I have won lotto. And he can bill what he likes because he’s going to have to come to my place. I’d need some instant paperwork. I’d hate to be hit by a truck the next day and have all the money go to the few relatives in my will - there’s enough to share around lots pf people I know. Hell I’d buy the Dope a server.
Surely every married couple with kids has consulted a lawyer at least once to draw up their wills. I am no fan of lawyers but even I find that simpler services of this nature are fairly cheap.
I’ve never been to my state’s lottery site; frankly, I’m not going to waste my time going there unless/until I need info on how to claim a prize, but posting rules there, separate from where I complete the transaction (gas station, grocery/convenience store, etc) is not sufficient based upon my memory of one or two college classes. If I’m one of the disproportionately low-income individuals, I may not even have a computer or internet access at home to be able to go to my state’s lottery website. Granted I’ve never gone looking for them (I realize I will need to this weekend to see if they are there), but I’ve never noticed conspicuously posted ‘rules’ for playing the lottery.
Hypothetical situation: You were the sole winner last night, however, when you go to claim your prize you now find out they must post your name/photo. Since you’re a fugitive on the lam/in the witness protection program, you don’t want the publicity. If they refund your $1, what happens to the prize money?
I would assume the ticket would be set up like a EULA. If you don’t want to be bound by the terms and conditions, you have to return the ticket for a refund of the purchase price.
Okay, I’ve decided I’m getting a lawyer because I *lost *the lottery. There were 3 winners, if the clerk entered my ticket ±¼ sec earlier/later, I would have gotten different random #s, winning random #s & would have taken home ¼ of the jackpot. I didn’t play to lose, I played to win, therefore it’s their fault I didn’t win, so I’m suing them for my winnings. :rolleyes:
I’m Canadian. We don’t pay tax on lottery winnings. If I had bought a ticket in the States (while passing through the Buffalo airport, say), would I still pay tax?
I was wondering what I would do if I won over a weekend and had to sit on a little slip of paper worth millions for a period of time.
I think I would get a lawyyer to take custody of it asap in hopes that his E&O insurance would serve as my own insurance if something hapenned.
If you want to collect anonymously, you will need to create a legal entity in the form of an LLC, or some sort of a Trust. You then sign the back of the winning lottery ticket using the name of the LLC or Trust, and have your lawyer make the claim.
Form a team of advisors, a lawyer specializing in estate planning and asset protection trusts, a CPA and a financial advisor, a team who will guide and protect you. You may then after hire another CPA and another lawyer to make sure your team of Advisors are not ripping you off.
Do not tell anyone, except for your husband/wife of your winning. Then go about your usual daily activity as if nothing has happened, or you may want to go away for a while to get used to the idea of your huge winnings.
The lottery commission of your state will simply announce that XYZ LLC, or XYZ Trust made the claim.
Most states now allow a legal entity to make the claim for you. It is becoming more and more common to do so. Simply call the lottery commission in your state and ask them if a legal entity is allowed to make the claim.
Virginia is one state where you cannot make a claim anonymously.
This has some thoughts on the topic.
The tax would be deducted before they paid you and you would have to file several inches of forms to get it back. Onerous if it’s a small casino win but well worth it for a large lottery win.
Even if Canada taxed lottery wins this would be the case although then you’d be doing all the work in order to not get dinged twice.
I’m not sure I’d want a LAWYER so much as an ACCOUNTANT. Accountants are the guys you want to help you with money.