Suppose you win the lottery – a dream come true. How do you receive the money and set up your life so that you do not become a character in a movie about lottery-winners-gone-bad?
One Ally Law member firm helped its client obtain the winnings anonymously through setting up a trust and accepting the monies through that vehicle. Determining how to set up the trust and assure it complied with state lottery regulations as well as state and federal tax laws took investigation and a thorough knowledge of applicable trust and tax laws. Going above and beyond, to meet the lottery’s requirement that a photo of the winner be taken, the firm had its own lawyer’s picture taken as Trustee of the trust.
If you come into funds unexpectedly, or have assets you wish to protect, consult an attorney at an Ally Law member firm to find creative and legally-compliant methods of effecting your wishes. Ally Law member firms around the world are experienced in analyzing assets and setting up appropriate vehicles for their safety and preservation. For more information about our services in this area, contact us at yourally@ally-law.com.
By Rich May.
