what does a lottery lawyer do

What Lottery Lawyers Do for Jackpot Winners

• Protecting Anonymity. When you win the lottery, you want to keep the news as private as possible to avoid being the target of lawsuits, scams, and straight-out begging for cash.
• Putting Together a Trustworthy Advisory Team. ...
• Advising About Payout Options. ...
• Avoiding Common Mistakes. ...
• Quashing Frivolous Lawsuits. ...

Full Answer

Why do you need a lottery attorney?

Apr 28, 2022 · A lawyer can help you to do everything properly. Our lottery tax calculator can educate you on various taxes applicable to lottery winners. Asset protection. These are experts in protecting their clients’ wealth. Since you are about to become rich, they can help you to manage those funds. Trust and estate attorneys.

Who is the go-to attorney for lottery winners?

Jan 20, 2021 · A good lottery lawyer will help you find legal ways of minimizing your tax liability. They'll also be able to assist you in setting up a trust or other legal entity to claim your winnings, if you need to. That way, you'll be able to keep your identity private and keep unwanted attention at bay. They can also represent you in court, if needed.

Who can help lottery winners?

Dec 08, 2021 · A lottery attorney will protect his clients from any kind of scam. He’ll guide them to move on properly. This will help them to remain safe and secure from any fraud cases. Advising the Winners about Claiming the Money As mentioned above, a new person may get confused about claiming the lottery amount.

How do lottery winners get paid?

Apr 30, 2022 · A lottery lawyer is part of the advisory team that winners should put together to help them wade through the legalities of claiming a prize without making costly mistakes. A good lottery lawyer can protect jackpot winners, their families, and their hard-won cash.

What does a lottery lawyer do?

They can protect you from potential lawsuits and counsel you in such events. A good lottery lawyer will help you find legal ways of minimizing your tax liability.

Why do you need a lawyer for lottery winnings?

Some of the benefits of hiring a lottery lawyer are: They can help you keep as much of your winnings as you legally can. They can help protect your identity. They can introduce you to the right people. They can set up your estate for your family's future.

What to do if you win the lottery?

If you won the lottery, the first person you want to hire: an attorney. That’s right, just one. It’s true that you’re going to need all sorts of lawyers who specialize in taxes, trusts, estates, and the like. But, you don’t really need to hire an entire cavalcade immediately.

Who is Jason Kurland?

Billed as the “go-to attorney for jackpot winners,” Jason Kurland is often called upon by the national media for lottery commentaries. Whenever jackpots reach record highs, expect him to give his 2 cents. Kurland has also represented some of the biggest winners in recent lottery history, including:

Who won the 2011 Powerball?

Kurland has also represented some of the biggest winners in recent lottery history, including: Putnam Avenue Family Trust: Also known as the winner of the $254 million Powerball jackpot of November 2011. Rainbow Sherbert Trust: Also known as the winner of the $336 million Powerball jackpot of March 2012.

Who is Walt Blenner?

Walt Blenner. Walt Blenner (inset) and client Shane Missler. Practicing out of Tampa Bay, Walt Blenner is a personal injury lawyer who also dabbles in estate planning. And yes, he also represents lottery winners.

Who is Kurt Panouses?

As an attorney and CPA that’s been practicing for more than 30 years, Kurt Panouses is one lawyer you’d want on your shortlist. Not only does he offer services ranging from drafting simple wills to assisting in million-dollar business transactions, Panouses also provides counsel and guidance to lottery winners.

Who is the lottery lawyer?

You can expect a high-profile lottery lawyer like Jason Kurland, who is widely known as the “The Lottery Lawyer” and has been featured on major news publications such as CBS, CNN, and Fox, to charge on the higher side of these fees. To ensure all their legal needs are covered, some lottery winners hire a team that includes a few lawyers ...

How to protect your money after winning the lottery?

2. CREATING A LOTTERY TRUST. Most financial experts recommend setting up a lottery trust with a lawyer before you even think about collecting your winnings. Maintaining anonymity after winning the lottery is a major concern and is the primary way to protect yourself and your money.

What can a lawyer do for you?

Your lawyer can also clarify important estate planning details, such as preparing a final will; preparing a living will that identifies who can handle your affairs if you are unable to do so; and a medical directive specifying who is allowed to make decisions on continuing or stopping life support .

Is the lottery a scam?

Despite their best efforts, lottery winners are frequently targeted by scammers who are after their money. Hopefully, you’ve followed lottery experts’ advice to remain anonymous, which should reduce the target on your back. However, when a frivolous lawsuit rears its head, you’ll need a lawyer to protect you.

Can you remain anonymous after winning the lottery?

Maintaining anonymity after winning the lottery is a major concern and is the primary way to protect yourself and your money. While most US states do not allow winners to remain anonymous , several states do allow winners to send a lawyer to collect the winnings in the name of the trust—thus protecting the winners’ identities.

Do lawyers charge a flat fee?

Many lawyers charge a flat fee for standard services, such as preparing a simple will or a power of attorney for property. For straightforward services, lawyers consider a client’s financial status, his or her family’s needs, and other factors to decide what services are needed and to put a price tag on the work.

How much can you leave to your heirs without paying taxes?

For example, as of 2018, an individual can leave up to $5.6 million to his or her heirs without paying a US federal estate or gift tax, while a married couple can shield $11.2 million from these taxes.

What can a lawyer do to help you?

A lawyer can help you draft a will and can ensure your money is allocated to all the right people. Winning the lottery is literally a one in a million opportunity that can change your life. Lottery winners should protect themselves from legal ramifications that money can bring.

Why do lottery winners stay anonymous?

Many winners choose to stay anonymous because other people might feel entitled to their money.

Which states allow lottery winners to remain anonymous?

As of right now, only the only states that allow lottery winners to remain anonymous are: Winners in states like Arizona, Georgia, and Virginia need over a certain amount to stay anonymous.

Do lottery winners file for bankruptcy?

Lottery winners are more likely to declare bankruptcy. Getting a large sum of money is exciting, especially if you’ve never had a lot of it before. However, lottery winners often lose track of their money and end up filing for bankruptcy. This is why lottery winners will need both an accountant and a lawyer.

Can you remain anonymous in the lottery?

As of right now, only the only states that allow lottery winners to remain anonymous are: Winners in states like Arizona, Georgia, and Virginia need over a certain amount to stay anonymous. However, in states like California, lottery winners must reveal their identities.

What does an accountant tell you?

Your accountant keeps track of all your money, and tells you how to invest it properly. Whereas your lawyer can tell you what you legally can and can’t do with your money. Similarly to a business lawyer, your lawyer wouldn’t necessarily tell you what to do with your money, only the most legal ways to spend it.

Why do people stay anonymous?

Many winners choose to stay anonymous because other people might feel entitled to their money. People have a tendency to act selfishly when money is involved, even if they have no legal grounds for it. Having a lawyer on your side in case someone sues you will help protect you before trouble begins.

What is lottery ticket?

A lottery ticket is a bearer instrument. The person who holds it holds its title. That means possession is often the primary consideration. Although disputes can happen and custody can be disputed, whoever signs the ticket and presents a photo ID can claim the prize.

How many states allow anonymous lottery winners?

Powerball tickets are sold in 44 states, as well as in Washington, D.C., the U.S. Virgin Islands and Puerto Rico. As of last time we looked, all but six states require lottery winners to come forward publicly. Delaware, Kansas, Maryland, North Dakota, Ohio and South Carolina allow winners to remain anonymous. Many other states are in the process of enacting such laws- some may even require you to donate some money to charity if you want to remain anonymous. Other states permit winners to create limited liability companies, so that when their names have to be announced, it’s the companies and not individuals that are identified. Think seriously about that.

How many states have powerball tickets?

Powerball tickets are sold in 44 states, as well as in Washington, D.C., the U.S. Virgin Islands and Puerto Rico. As of last time we looked, all but six states require lottery winners to come forward publicly. Delaware, Kansas, Maryland, North Dakota, Ohio and South Carolina allow winners to remain anonymous.

Joseph A Blaszkow

Congratulations. Just as it is rare for people to win the lottery, it is rare for lawyers to encounter such people. I have never heard of a "specialist", and think you will have to search for lawyers with a more general practice.#N#More

Barry A. Stein

You should consult a financial planner, not necessarily an attorney, or a trust and estates legal practice attorney. They can assist in planning for your future. If you already accepted the money personally I am not sure you can do anything to change the taxable consequences. Good luck.#N#More

Christy Michele Greene

Congratulations, as you may be aware suddenly receiving a large sum of money can indeed ruin relationships and destroy lives but we all buy those lottery tickets don't we? When you receive an annuity that means you will receive regular payments- either yearly, monthly, or biannually are common.