what lawyer would you get winning the lottery

There are different types of lawyers you’ll want to look for after winning the lottery. A tax lawyer, trust and estate attorney, and asset protection lawyer are just a few examples. Ideally, you'll want just one lawyer who can fulfill all those roles.

Full Answer

Why get a lawyer if you win the lottery?

 · 5 Tips from a Lawyer in Case You Win the Lottery. We consulted a professional lawyer and asked him for a couple of tips he would give to lottery winners. Here is what he says you should do: Find your ticket and sign it immediately. The ticket’s backside is the place where you should add your email, contact phone, and address.

How can attorneys help lottery winners?

 · 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. Belinda Poblete: The winner of the $7 million CASH4LIFE prize in May 2016.

Do I need a lawyer if I win the lottery?

Lawyers in metropolitan areas tend to charge more per hour than those who work in less populated and rural areas. 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.

How to actually win the lottery?

 · And, of course, the lawyer should be familiar with the unique problems lottery winners face. It's not a decision that any winner should make lightly. In 2020, self-branded lottery lawyer Jason Kurland was indicted for stealing over $100 million from his clients. You don't want to trust an unscrupulous person with your winnings.

What is a good lottery lawyer?

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. 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.

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.

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 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.

How to find out if a lottery lawyer is a good one?

Take the time and do some research on a potential lottery lawyer. Reach out to their past clients and find out how their experience was. You can also look into their records to see if any disciplinary actions were taken against them in the past. All this information can be found online.

What to look for when choosing a lottery lawyer?

What to Look For When Choosing a Lottery Attorney. You should take your time when looking for a lottery lawyer. The difference between a good lawyer and a bad one can easily cost you your money, time, and worse. Choose from different candidates, so you can find the best one.

Do lottery winners need a lawyer?

Well, yes. They're not absolutely necessary, but a good lottery lawyer can keep you from making bad decisions that could jeopardize you or your wealth. They'll be there to stop you from making common mistakes that cause lottery winners to go broke. The larger your prize, the higher the stakes, and the more sense it makes to hire a lottery lawyer who can help you manage it all.

What can a lottery trust do?

An estate planning lawyer can ensure that your lottery trust clearly states how you will access, spend, donate, and save your money. In the case of multiple winners, especially in states that only allow a single payee per winning ticket, a lottery trust can clarify how the money should be divided and avoid any disagreements. Finally, a trust can also give basic directions for what should happen to your fortune if you pass away unexpectedly.

How much can an estate planning lawyer leave?

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.

Do you need a lawyer for a lawsuit?

However, when a frivolous lawsuit rears its head, you’ll need a lawyer to protect you. Your lawyer can defend you in court and anticipate additional vulnerabilities that may put you at risk for other legal trouble.

How to claim a lottery ticket?

Sign the back of the ticket immediately. That may sound crazy, but on the back of the ticket is where the owner puts their information (name, address and phone number) when they turn it in. Stake your claim to your winning ticket immediately. 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. You may be requested to verify where you bought it and/or how you obtained custody. Sign it so even if someone takes it, it creates an immediate presumption that it is/was yours.

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.

Which states allow anonymous donations?

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.

Does Monopoly have a fiduciary duty?

You won’t believe the tax issues which could come up- state taxes, federal taxes, gift taxes, corporate taxes and other taxes even the game Monopoly didn’t try to make up. The lawyer can help with this, as they have a fiduciary (financial) duty to you.

Is Powerball 1 in 292,201,338 real?

Let’s say you have that 1 in 292,201,338 ticket. You’ve checked the winning powerball numbers twice. It’s real. Your heart is racing. Your mind is full of thoughts. You want to scream it from the rooftops and call work and let them know you will certainly not be coming back.

Do lottery winners find terrible fates?

Finally, don’t be a woe-filled story. Statistics show lottery winners often find terrible fates. Here are some more stories of the bad days which may follow:

Why is it important to find a lawyer for a lottery winner?

Winners spend a lot of time with their financial team, so it's important to find someone they trust and feel comfortable with. And of course, the lawyer should be familiar with the unique problems lottery winners face.

What is a lottery lawyer?

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 to do if you win a lottery?

If you win a large prize in a lottery, getting a good lawyer should be a priority . You'll want to have representation before you tell anyone outside of your immediate circle of family and trusted friends that you've won, and certainly before you claim your prize.

Why do lottery winners need to make decisions?

New lottery winners need to make the decision whether to take a lump sum or an annuity payout. A lottery winner can keep them apprised about the legal and financial ramifications of their choice. Because they know the winner's exact financial status, they can give better advice than the winner would receive by reading articles online.

How to protect lottery winnings?

Another option many lottery winners choose is to set up a trust to claim the prize. In many cases, setting up a trust not only helps protect the winner's identity, but also prevents the winner from spending too much too quickly while fending off requests for handouts and donations. A lottery lawyer can help determine whether a trust is beneficial for the winner and if so, can help set it up.

Why do you want to keep the lottery private?

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. But keeping the word from spreading isn't a simple task. Some states let lottery winners claim their prizes anonymously. Others don't, but let winners claim in the name of a business, which can reduce the publicity they have to deal with. A good lottery lawyer can help winners protect their anonymity as much as possible.

Do lottery lawyers need to be a lawyer?

You don't necessarily need a lawyer who brands themselves as a lottery lawyer, but you do want someone who has experience managing large windfalls. Good lottery lawyers have experience with taxes, estate planning, setting up trusts, and protecting assets.

How to protect your winning ticket?

Protect your ticket. Sign your winning ticket, make copies of it and stash the original in a safe-deposit box. If you are separated from the ticket, your signature should ensure you won’t be separated from the prize. The safe-deposit box will help ensure you’re not separated from it.

How long do you have to claim a lottery ticket?

Get help before you claim the prize. You’ll have three months (in most states) to come forward with your winning ticket. You likely won’t be able to keep your secret under your hat for that long, but before identifying yourself, assemble a team consisting of a financial planner, an accountant and a lawyer, with the lawyer being your first call. Lottery winners are often subject to legal claims out of left field, sometimes from co-workers who went in (or declined to) go in on a pool ticket.

What to do when someone is sitting on millions?

Name your charity. Eventually, experts say, someone sitting on several hundreds of millions starts to think of their legacy—and ways to reduce the taxes now, and on their survivors when they go.

How old was the widow who won the Powerball?

More pertinent is your age. The biggest payout to a single Powerball winner occurred in May, when an 84-year-old widow from Florida took her $370 million pretax payout at once.

How much is a Powerball ticket?

A major revamp last year upped the cost of a Powerball ticket to $2 from $1, and it also has led to sweeter jackpots in shorter periods of time. Since March 2012, when a record-setting $656 million Mega Millions jackpot was awarded, the U.S. has awarded some of its largest lottery prizes ever. That includes Powerball's largest jackpot of $590 million, which was won by a Florida widow in May.

How much is the Powerball jackpot worth?

The latest Powerball jackpot is worth about $400 million, the fourth largest jackpot in the history of the game.

Do you have to disclose your name to win a lottery?

In many states, however, winners are required to divulge their names for publicity purposes. If you have to identify yourself, change your phone to an unlisted number to avoid calls from scammers and “friends” who surface to make special pleas. You may consider moving to an undisclosed location, even temporarily, to avoid the crush of the press.

What is the meaning of winning the lottery?

Winning the lottery is literally a one-in-a-million opportunity that can change your life. Lottery winners should protect themselves from the legal ramifications that money can bring.

How much did Craigory Burch Jr. win?

In 2015, lottery winner Craigory Burch Jr. received $434,272 in a Georgia jackpot. Because his state doesn’t have strong anonymity laws, many heard about his winnings. Within months, Burch was killed by seven masked robbers.

Can lottery winnings be lost?

Many lottery winners end up losing a significant amount of their winnings from taxes alone. Your lawyer can also advise you on how to make your winnings last longer, so you get more out of it.

What do you need to win a lottery ticket?

All you need is the ticket, signed, a valid ID, and to be able to say at which store you bought the ticket, how did you pay and around what time. They are going to investigate that. You also need to go through the night without catastrophic incidents and to drive carefully to the lottery claims center.

Why do people need a lawyer?

The lawyer is to help you plan how to handle things. Once your name gets out, people will come out of the woodwork with offers, threats, attempts to blackmail, identity theft, etc. Having a good lawyer will help you

Can I claim my lottery in public?

The lawyer will set up an LLC account for you under a different entity and will claim your lottery in public so you can remain anonymous. I doubt you want death threats coming your way and fake friends and family harassing you for money on a daily basis. Let`s not forget the fraudulent lawsuits people will place on you.

Can you win the lottery anonymously?

You are going to get sued - Since you cannot win the lottery anonymously, you can expect that somebody, somewhere is going to sue you for something. Legitimate or not, you’ll need representation.

Can you gift someone a lottery ticket?

Yes. And they’ll want to verify your ticket really is a winner, if you don’t have the proper amount to pay them up front. Once they represent you, they can discuss options like setting up a trust fund to protect your money from you (yep - really solid idea). They can even place any property you own into another type of trust - especially if you believe you may be sued by an ex- spouse or family member. They can also assist with planning gifts to reduce the amount of cash you hold. That way - you gift assets and cash to potentially reduce the taxable income you have for the year. Did you know you can gift someone $15,000/year? If you have a spouse, you can combine your amounts to a $30,000 gift - tax free according to the IRS. The shifting of money and assets are called “lifetime wealth transfer strategies” and, basically, are meant to reduce your assets under a certain threshold so that you are taxed at the lowest possible rates - legally.

How to make sure you won the lottery?

If you’re worried about losing the actual ticket during the process of hiring the attorney and others, make copies of it front and back, put it in the safe deposit box as others have suggested, but then take just a copy to a lottery machine that reads the barcode for you to help make sure you are the winner. You can cut out a small size rather than take a large sheet of copy paper, just make sure the barcode is in tact. Make sure no one is standing beside or behind you when you get the reading. Keep the win quiet. Don’t ask a store clerk, just quietly go to a machine by yourself, and leave when it says you’re the jackpot winner without acting excited.

How do you want an attorney to handle the actual claiming of the ticket?

Too often, smiling, beaming attorneys are photographed claiming their clients’ lottery win , which exposes to the world who your attorney is. This means the attorney’s interns, secretary, etc. can be found and coerced into revealing who you are. It means your attorney will be inundated with phone calls all day long at first and possibly on a regular basis for years, which he or she will bill to you for the time it takes to answer them all, and hopefully not slip during the answers and give a bit too much away. In one state, the attorney thought he stated only that the winner was an 87 year old male, and within hours the winner’s house was surrounded by the media and public. Journalists and others are very good at asking seemingly innocent questions and getting more information than the attorney ever realized he or she was giving away. I’ve gotten information from many attorneys just by getting their guard down and asking the type of questions that have me receiving far more information that they didn’t realize they were giving me, than I should have received, regardless of oaths attorneys take to maintain privacy.

Why do you need an attorney for financial planning?

An attorney could be necessary because people would pour out of the woodwork attempting to seperate you from your new found wealth.

Can you recover your winnings if you are not a US citizen?

If you are not a US citizen, you may also require a US tax recovery service at your bay, as a part of your winnings will be held as taxes in the US, which can be recovered later.

Do you have to tell an attorney you have a ticket in a safe deposit box?

You may also want to tell the attorney you have the ticket in a safe deposit box but would like him or her to also verify that it’s a winner before too many of their expensive hours are built up. Give them just a copy and let them look online themselves to verify.

What happens if you never collect a lottery ticket?

If the ticket was misread, or becomes lost or destroyed, and you never collect, they’ll still bill you and you’ll still owe.

Is winning the lottery a curse?

While many people think winning the lottery is a dream come true, it’s also a curse with enormous responsibility that will require a great deal of courage and great professional advice to allow you to enjoy the winnings.