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How establishing a trust can protect your lottery winnings

Almost everybody dreams of winning the lottery in a huge way. And if you’re lucky enough to win a few cool million dollars, it can change your life, but not always in a good way. If you are one of those few lucky people who win huge amounts of money, one of the first things you need to do to protect your winnings is to establish a trust. This is easily done with the expert advice of attorneys who handle Trusts in Sarasota FL.

Many people who receive huge lottery winnings often find themselves the victim of investment scams or friends and relatives who would never otherwise associate with them all of a sudden want money. Close family members of lottery winners often think that they are entitled to share in the winnings. An experienced Trusts Sarasota FL attorney will tell you that one way to avoid all of this hassle is of course to not “advertise to the world” that you’ve won. The other more air tight way to protect your winnings is to retain the services of reliable attorney who deals in Trusts Sarasota FL laws. You can retain your anonymity by setting up a trust to receive your lottery winnings and let the trustee organization collect your money. This is an excellent way to keep your winnings a secret. Plus with a trust in place, your money is controlled by an outside and unattached source so that your spending is regulated. This is something that an experienced Trusts Sarasota FL attorney can advise you on what to do so that all state laws are followed correctly.

It is very important that you thoroughly research your local state laws on trusts. This is why you need the expert advice of an attorney well versed in Trusts Sarasota FL laws. Different states have different rules on who can serve as your trustee and what type of documentation is needed to legally create a trust for lottery winnings. The Trusts Sarasota FL attorney you choose can also advise you on who can be your trustee and who can be the beneficiary. Local laws must be followed correctly if you want to be able to claim your winnings. It is also important that you be thoroughly informed as to what type of trust you should establish. Some states only allow you to have access to your winnings through certain types of trusts. By retaining the services of a reliable, trustworthy and well informed Trusts Sarasota FL law firm , you can be sure that your lottery winnings trust is done correctly and that all legal matters are handled according to the rules and regulations of local and state government wherever you reside.

Your Trusts Sarasota FL attorney will also advise you on how to select your beneficiary and if you are allowed to name yourself as the beneficiary so that you can easily collect your money. Establishing a trust to protect your lottery winnings is a great way to ensure they don’t disappear.

If you’re a lottery winner wanting to protect your winnings, seek the advice of a trusts Sarasota FL attorney. You can find out more information by going to a website such as Jameswmallonee.com.