Setting Up a Trust for Lottery Winnings

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When it comes to lottery prizes, the first thing that happens after you turn in that winning ticket and get your lump sum is that the federal

your ticket for your records and that you use registered mail All winning numbers and prize amounts are unofficial until certified by the Minnesota Lottery  you can create your own lottery winnings, have a wonderful retirement, enjoy the journey along the way, and pay less in taxes on all your winnings—all

seminar lottery According to lottery officials, most winners opt for the lump sum, or the “cash option ” In the case of the next Powerball jackpot of $ The IRS considers net lottery winnings ordinary taxable income So after subtracting the cost of your ticket, you will owe federal income taxes