Everyone wants to win the lottery, right? We imagine ourselves in private jets, luxury hotels, eating in fancy restaurants, … But does anybody want the recognition that comes with it? It is not very likely. Many lottery winners choose to maintain a low-profile in order to avoid thieves and opportunists. Although, how do you do that with one million dollars in the bank? David Spillane is the answer.
David is an attorney at SKB Attorneys in Hanover, Massachusetts, who when a lottery winner went to his office seeking guidance, came up with a brilliant idea. In the US, states like Kansas or Texas leave it to the winner to choose if he or she wants to remain anonymous or not. However, this is an exception to the rule, because in most states this is not an option: a picture of the winner holding the check is mandatory, given that it is used for advertisement purposes.
The idea of SKB to avoid this photo was simple: to create trusts.
Trusts, Spillane strategy for lottery winners
A trust is a contract that allows a person to transfer assets, money or property rights to somebody else. What Spillane’s firm does is to create trusts and establish as its manager the person who will collect the prize. This person does not have to be the winner, it could be anybody, including David.
He is the one collecting millionaire prizes, without ever winning one. Spillane simply collects the check, takes the photo and deposits the money in the winner’s bank account. He has even represented people who won multiple times, like one winner who had a first prize of $1,000,000, a second of $10,000,000 and a third one of $1,000,000 again!
To this day, David has “won” 41 times in the US lottery, but still he does not take any percentage of the winnings. The pieces of advice that David always gives are: do not sign your ticket until you meet with an attorney or financial planner and always keep your ticket in a safe place!
Get your tickets at TuLotero, maybe you get to know Spillane very soon!