Lawyers.com > Discuss Your Legal Issue > Ask a Lawyer > Estate Planning > Can a blind trust be formed to claim the lottery prize in New Jersey? Is it permitted by the New Jersey law? Thank you

Can a blind trust be formed to claim the lottery prize in New Jersey? Is it permitted by the New Jersey law? Thank you

1 Answers. Asked on Mar 01st, 2012 on Estate Planning - New Jersey
More details to this question:
N/A
Answers Showing 1 out of 1
Answered on Mar 04th, 2012 at 7:09 AM

Yes - a trust can be formed.  You can allow the trust to accept the prize and do not have to have your name announced.  People often do that because if you win the lottery, you will be inundated with requests for money.  Keep in mind you will have a time deadline to accept your lottery prize. 

Report Abuse
Estate Planning
It's a common misconception that estate planning is only appropriate for the elderly and those who have amassed a significant amount of wealth. Not true. All adults who are mentally capable should have an estate plan, which can include a last will and testament, trusts and/or advance directive such as a healthcare power of attorney and living will. An estate planning lawyer can work with you and your spouse to assess your estate planning needs, create the documents which form the foundation of your plans and then update those documents as necessary. Estate planning law firms can also work with clients who have special needs and concerns, including those dealing with a chronic or terminal illness, the parents of disabled children and parents who want to protect certain assets for their children from a prior marriage.
Have an Estate Planning Question?
It’s Free & Easy.
Ask a Lawyer
Top Contributing Lawyers
Wendy Rebecca Barlow

Attorney - New York

852 Answers, 1 Legal Topics

Mark Tischhauser, Esq.

Attorney - Florida

173 Answers, 20 Legal Topics

Patrick Johnson

Attorney - Tennessee

153 Answers, 38 Legal Topics

Richard Samuel Price

Attorney - California

122 Answers, 19 Legal Topics

Michael D. Siegel

Attorney - New York

107 Answers, 27 Legal Topics

Michael E. Fiffik

Attorney - Pennsylvania

87 Answers, 18 Legal Topics

Cindy S. Vova

Attorney - Florida

79 Answers, 5 Legal Topics

Estate Planning Local Law Firms  
In United States change location
×
Please select state Update
Do It Yourself Legal Forms
Go

Popular Forums