How to remain anonymous if you win the Powerball

It's Powerball mania across the country but if you win, how can you keep your name private?

David Swain thinks a Powerball ticket he's carrying in his pocket has the winning numbers.

"Hopefully, it'll come true," the Flagler County mechanic said Monday, two days before the next Powerball drawing.

Winning the Powerball jackpot is Swain's dream that -- if he wins the world’s largest lottery jackpot of an estimated $1.4 billion -- could turn into a rich reality.

But Swain would like to keep his winnings secret.

"I would remain anonymous because of security reasons. That much money -- you'd have everybody trying to do something," Swain said.

Flagler County attorney Michael Chiumento has a few recommendations for any Floridian who might become a multi-millionaire after the winning numbers are drawn.

Set up a trust fund before claiming a big prize, or your name could be released publicly -- potentially in any state.

"If your goal is to remain anonymous, you're going to need to form a trust, partnership or corporation, in which your name is not on there," Chiumento said.

First, a Powerball winner should sign the back of the ticket, then, make a few copies and put it in a safe spot, Chiumento said.

"Certainly, to remain anonymous, you'll hear a lot of times creditors come out with a lot of false claims against individuals," Chiumento said.

Chiumento advises selecting a representative to claim the money, and no one will know the winner except the Internal Revenue Service.

That's good news to Swain, who is hoping that Wednesday's Powerball jackpot is his.

He said even if he wins, there'd be no change in his routine -- so his identity is sealed.

"I'd probably still be in the shop," Swain said.

POWERBALL WINNERS ANONYMOUS

Flagler County attorney Michael Chiumento recommends these tips for claiming a winning Powerball jackpot:

• Before you claim your prize, form a blind trust that has an anonymous name on it. You'll still be the trustee in control over the trust.
• Sign the winning ticket. That way there's evidence that it's yours. Make copies of the ticket and give them to a loved one. Store away the original winning ticket somewhere safe.
• Surround yourself with trusted advisers: A tax attorney, financial planner or an accountant.
• Have a representative from the trust, whether it's your attorney or someone else you designate, claim the prize on the entity's behalf.
• Open a bank account in the name of that entity, and the money would flow in there. You, as the winner, would be able to control the entity and how the money is distributed and spent.

This story was originally published January 11, 2016 at 10:48 PM with the headline "How to remain anonymous if you win the Powerball."