Trust Lawyer Blind Trust for Winners of Lottery. Have you ever won the Lottery? Winning the lottery has its own cons for the winner. If you are someone who has won in the lottery, you must have suffered either being a subject of the media, or have been divided from friends and relatives, or both. Santa Clarita Trust Lawyers
These are real problems, so you must avoid them the next time your luck works another wonder for you. The best thing to do is to keep discretion by hiring a trust lawyer and utilizing a blind trust. Here’s how it works:
How Does a Blind Trust Work?
For a lottery winner, it is unavoidable that relatives and friends would come to plead for money. Some of the lucky guys even have to deal with lawsuits which are carried forth by people who believe that there’s something irregular with how the lottery was conducted. Some even obtain death threats for not sharing.
Furthermore, a blind trust permits a trust lawyer to redeem the prize without telling who really won the game. You remain anonymous and undisturbed while enjoying a private, quiet life and your money.
Do you see how wise that decision would be? Nobody, not even your mother, knows you have become an instant millionaire.
What is a Good Way to Invest?
First, you can use a blind trust as your financial tool. Financial advisers are the ones who will manage the money for you. Typically, these people would persuade winners to invest their money so that it will grow and whatever earnings from the investment are used to support the winner’s everyday needs.
Keeping Everything Confidential, Santa Clarita Trust Attorney
Anonymity is guaranteed through the use of a blind trust. So far, that is the only way to do it. Although there are states, with their open document laws, which force trust lawyers to let the information out, it will still be up to you. Also, entities demanding for information are required to provide the rationality of the request for information.
As you can see, there’s a little chance that your name will be exposed. Chances are the only people who know your name are the lottery officials and the executor of the blind trust.
A Setback about Blind Trusts
There’s something not appealing with this type of deal and that has something to do with not being able to fully control of the money.
Nonetheless, you are the beneficiary and it is your money. Therefore, study carefully the agreement and make sure your preferences are incorporated. You can even limit the things that the executor is allowed to do with your money.
Also, there is also an option that allows a beneficiary to revoke the blind trust at any point afterwards. If you want to add up this provision to the agreement, no one can hinder you.
Therefore, you would consider everything, you are essentially the one who is in control and the trust lawyer is subject to your wishes and permission. Before you sign up, there shouldn’t be any doubt. Clear up everything first.
Mortensen Law
Trust & Probate Attorneys, P.C.
22807 Lyons Avenue
Newhall, CA 91321
www.mortensenlaw.com
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