Legal Question in Wills and Trusts in California
California Lottery
I just won the lottery and I would like to accept the prize through a blind trust to retain anonymity. is this possible and what dangers are there?
3 Answers from Attorneys
Re: California Lottery
Congratulations! The only (though big) danger is choosing the wrong trustee, as you're depending on them to make the right choices and manage your money well. There are plenty of reputable, insured and bonded companies who can act as trustee, so a referral from your attorney should help. Look to pay a flat/hourly (not percentage) fee to an attorney for his/her services, and about one to one-and-a-half percent in annual fees to the trustee.
Re: California Lottery
I'd be happy to help you with that. I would need to review your ticket and know all the facts, but I'm sure we can satisfy your goals. Give me a call.
Re: California Lottery
While there are many types of arrangements that may or may not increase anonymity, a blind trust just means you don't know what your money is being invested in, for example you are a Senator and you don't want to have to consult your portfolio every time you vote on something involving, say, Exxon.
A big dog. That's it. You need to get a very big dog.