Imagine winning a huge Powerball jackpot and instantly being a multi-multi-millionaire! Just like that, your life would change and every dream and fantasy could become a reality! Of course, when we fantasize about winning the lottery, we only think about the good parts and not about how some lottery winners have their names published, bringing with it a lot of unwanted attention. Suddenly, everyone comes around looking for a share of your win, no matter how old or distant the relationship may be.
Which, of course, begs the question:
If I win the US Powerball, Can I Remain Anonymous?
The answer is – it depends. Some states allow Powerball winners to remain anonymous, while others do not. As of this writing, there are six states that give Powerball winners anonymity: Delaware, Kansas, Maryland, North Dakota, Ohio, and South Carolina. Winners in these states do not have to collect their prize in person nor disclose their identity. Many experts agree that remaining anonymous is one of the things that successful lottery winners do, so it is worth taking advantage of if you’re lucky enough to win a jackpot in one of these states.
Why do the other states require Powerball jackpot winners to identify themselves? The main reason is transparency. Lotteries go to extraordinary lengths to prove that everyone who buys a ticket has an equal chance of winning and that the games aren’t rigged in any way. By requiring that jackpot winners identify themselves, state lotteries add another level of transparency. It is one that, unfortunately, comes at the expense of the winners.
In some instances, it is possible to form a trust that collects the prize with the beneficiary of the trust being, ostensibly, the holder of the winning ticket. A trust is a legal entity that can shield the identity of the winner from prying eyes. Some states also let syndicates collect prizes using the name of the syndicate, thereby keeping the identities of the syndicate members a secret.
For Powerball winners who absolutely must identify themselves to collect their prize, there is something that they can do to deflect some of the unwanted attention and solicitations they are bound to receive. Experts advise that lottery winners hire financial planners to help manage their money. In addition to financial management, planners and advisors can also be used to deflect inquiries and requests. “I’ll have to run that by my financial advisor” can be a stock answer to all unwanted inquiries.
Additionally, it might be the case that a substantial amount of winnings are invested or otherwise not immediately accessible as cash. Not only will this ensure future revenue or at least safeguard the jackpot from superfluous purchases, but investments also make for a great excuse as to why you don’t have cash on hand to give away.
To have this problem, you’ll first need to win the Powerball. To do that, you need to play. Play Powerball online today!