Quote:
Originally Posted by Boomer
about those taxes???
I have always thought that if winnings like that should come my way, I would grab a really good attorney and a really good accountant and set up a blind trust, or whatever it is called, to receive those winnings. But I have to wonder if that is not done because the lottery commission does not allow it because the lottery wants and needs the associated publicity or because most people want everybody to know (I sure wouldn't) or because most people don't think about such a thing or because taxes on trusts are especially wicked.
Don't know the answer. It might be all of the above. But I do not think I will ever need to know the answer.
Boomer
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Here in Ohio a lot of people do set up a blind trust just so their names are not out to the public. The Lottery Commission does not like that when they have a big pot as they want the free advertising that comes with the photo op of the check presentation. This even happened a few times when lottery pools hit. No photo op. Also if the ticket is claimed by a trust even the trust name is not reveled. The trust is the best way of keeping the information private.