Lottery Not Always a Winner in the Long Run

03/12/2018

People who win expect happiness. However, sometimes all they find is trouble.

Estate planning for the wealthy can often protect heirs from running into problems. However, it is not so easy for lottery winners whose wealth and identity suddenly becomes public information, according to Fox News in "The 'curse' of winning the lottery?"

Only two states allow lottery winners to receive their winnings anonymously by creating trusts. However, winners in other states are not completely without options.

Before a lottery winner collects winnings or even tells anyone else about it, they should seek legal advice.

An estate planning attorney can help clients by creating trusts and guiding them in learning how to manage large sums of money.