Winner claims $270 million lottery jackpot in trust

[Reciprocity]

Associated PressCLEVELAND - The winner of the biggest lottery jackpot won in Ohio has claimed the $270 million prize anonymously by forming a trust.

Toledo attorney Mark Mockensturm, a trustee for the M & H Blind Trust, made the claim Friday at the Ohio Lottery's headquarters on behalf of the winner of the Feb. 28 Mega Millions jackpot.

The winner chose to receive the prize in a lump sum and, after taxes, will get a check for $113.5 million.
For more...
http://www.ohio.com/mld/beaconjournal/news/state/14124414.htm
Now that's what I call a smart person.

[AllegroRondo]

1. Any idea how you go about doing this?

[Reciprocity]

2. Not yet, but if I win tonight I'll let you know. n/t

[ET Awful]

3. Easy. When you know you have the winning ticket, you hire an attorney

to prepare a Trust for you, and designate a Trustee (who controls the trust). You then transfer ownership of the ticket to the Trustee of the Trust. After which the Trust cashes in the ticket and the funds go directly into the trust.

[Reciprocity]

4. So should you sign your ticket before making the trust?

[ET Awful]

5. Not if you have an honest attorney that you trust.

In which case the attorney (or your designated Trustee) would sign the ticket on behalf of the trust (which now is the legal owner of the ticket).

If structured properly, your name isn't on anything but the trust, and can be kept confidential.