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The Guy Behind the Tree
The Guy Behind the Tree, Experienced Investor & Financier
Category: Tax
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Experience:  Don't tax you, don't tax me, tax the guy behind the tree.
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Can I claim lottery winnings anonymously with a Living ...

Resolved Question:

Can I claim lottery winnings anonymously with a Living Trust? Also can I have an attorney redeem the ticket in the Living trust name?
Submitted: 7 years ago.
Category: Tax
Expert:  The Guy Behind the Tree replied 7 years ago.
Which lottery is the ticket for?
Customer: replied 7 years ago.
Reply to The Guy Behind the Tree's Post: Tennessee Powerball...
Expert:  The Guy Behind the Tree replied 7 years ago.
Your attorney-in-fact can be empowered to do any lawful act that you could otherwise do.

Your living trust would not save you any taxes but it might make it harder for others to learn your identity. Most living trusts are named after the original Trustor but it is not a requirement - mine aren't.

The tax ID for your living trust would be the same as yours, since the trust is revocable you would be in full control. The lottery authority would undoubtedly withhold for taxes, to take credit for that withholding the tax ID for the trust will have to match yours.

If someone REALLY wanted to learn your identity the trust document would reveal it, and in order to claim the prize in the name of the trust your attorney would have to provide a copy of the trust to the lottery authority. But doing it that way would mean someone inside the lottery authority would have to reveal your identity before your anonymity plan would be compromised.
The Guy Behind the Tree, Experienced Investor & Financier
Category: Tax
Satisfied Customers: 1387
Experience: Don't tax you, don't tax me, tax the guy behind the tree.
The Guy Behind the Tree and 3 other Tax Specialists are ready to help you

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