The Law Offices of T. Nicholas Tyszka


Legal Issues

There are a number of legal issues which arise when someone wins the lottery.

Claiming Your Prize: When winning the lottery -- particularly large sums, a winner may not want to identify themselves publicly. Where allowable by law, we can work with you to claim your prize and protect your anonymity -- using a variety of identity-protecting mechanims. These may include the usage of a limited liaiblity company or establishment of trusts.

Ownership Issues: Disputes over who owns a lottery ticket, particularly in cases where a winner regularly pools his initial investment in lottery tickets with other players -- aimed at increasing the odds of winning by buying more chances and agreeing to split winnings.

Tax Concerns: Issues include whether a winner should take a lump sum or get monthly or annual payments over time.

Charitable Giving: Donating part of your winnings could allow you to keep more money in your pocket while also doing good..

Estate Planning: With lottery winnings comes an increased likelihood that you will retain significant wealth upon death. Deciding how proceeds will be used can be critical for family members.

 The Law Offices of T. Nicholas Tyszka
 401 N. Michigan Ave., suite 1200 • Chicago, Illinois 60611-4264
 Telephone: (312) 488-1250 • Fax: (312) 488-1251

 

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