Winner’s Curse: The Necessity of Estate Planning for Texas Lottery Winners

Date

2014

Journal Title

Journal ISSN

Volume Title

Publisher

Texas Tech Estate Planning & Community Property Journal

Abstract

Discusses the factors that affects estate planning for Texas lottery winners. Addresses certain tools to accomplish general lifetime objectives such as retirement income, income for disability, and ease of estate management in the case of incapacity. Also discusses how the recently passed American Taxpayer Relief Act of 2012 affects estate planning for these winners. Then examines the trusts and any tax concerns that winners should consider at the estate planning stage. Finally, makes a general recommendation that will optimally protect and preserve the wealth of the winners.

Description

Keywords

Estate planning, Lottery, American Taxpayer Relief Act of 2012, Taxes, Texas, Trusts

Citation

Eduardo Montemayor, Winner’s Curse: The Necessity of Estate Planning for Texas Lottery Winners, 7 Est. Plan. & Cmty. Prop. L. J. 363 (2014).