Lottery/Blind trust

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Latest post 03-09-2009 9:17 PM by jfngjn. 4 replies.
  • 03-08-2009 11:34 PM

    • jfngjn
      Consumer
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    • Joined on 03-08-2009
    • NY
    • Posts 3

    Lottery/Blind trust

    Will a New York city resident be eligible to claim a lottery win, via a blind trust?  Even if their signature's already signed in back of the ticket?  Or does the name of the trust have to be signed?  What's the cost of a blind trust? 

  • 03-09-2009 9:21 AM In reply to

    Re: Lottery/Blind trust

    I am a NY lawyer.  A blind trust is a very specific type of trust.  I usually use it when there is a potential of conflict of interest.  I don't know if this is the type of trust that you mean.  There are many types of trusts.  This would depend on your relationship to the beneficiary and whether the receipt of the proceeds pose any conflict.  Since you do not have the trust drafted yet, you can not fund it.  You should state what you want to do with the trust (ie, purpose) in order for people to better help you.  Good luck.

    Sharon M. Siegel, Esq.

    Siegel & Siegel, P.C.

    Phone: 212-721-5300

    email: sieglaw@optonline.net

    website: www.siegelandsiegel.com

  • 03-09-2009 2:41 PM In reply to

    • jfngjn
      Consumer
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    • Joined on 03-08-2009
    • NY
    • Posts 3

    Re: Lottery/Blind trust

    Thank you for your reply.  I was told if one wanted to remain anonymous from the public, you can claim a lottery prize through a blind trust.  If one plans on claiming their winnings from the lottery commission, can they claim through their blind trust fund?  Or is this not allowed in New York state?  Does New York city allow lottery winnings to be claimed anonymously? 

  • 03-09-2009 3:39 PM In reply to

    Re: Lottery/Blind trust

    Seems to me that the question is not claiming the lottery winnings anonymously, but keeping the fact of who won from the public. I live in NY and a quick glance of the NYS lottery site along its rules and regulations and I didn't see anything that said a winner had to be revealed to the public.

     

  • 03-09-2009 9:17 PM In reply to

    • jfngjn
      Consumer
    • Not Ranked
    • Joined on 03-08-2009
    • NY
    • Posts 3

    Re: Lottery/Blind trust

    Thank you for answering my questions.

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