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Which scenario would you prefer??

Topic locked. Last post 4 months ago by DC81. 23 replies.

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sweetbitterkiss's avatar - BabyCupcake
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Posted: March 27, 2008, 7:16 pm - IP Logged Bottom

i have to say number 1

one day my life will be complete ^_^

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Atwater, Ohio
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Posted: March 27, 2008, 7:30 pm - IP Logged Top

#1. Winning the jackpot in an anonymous state where you can claim the ticket yourself (such as DE, ND, KS, MD, SC) 

OR

 

#2.  Winning the jackpot in an anonymous state where you need an attorney to claim the prize for you (such as LA, NH, OH, OK). 

 

After all, you would be anonymous both ways, but don't forget that although no one at the lottery headquarters will see you if your attorney claimed the prize, the attorney would have control over the prize and you wouldn't have discretion over the assets since it would be a "blind trust".  Which would you prefer and why?

My preference is to find a method of play that gives me the best chances of winning a jackpot. It's nice to know that I can remain anonymous in Ohio but it's useless information if the numbers I picked for Mega Millions are drawn in a Powerball game.

The Ohio Lottery has a slogan "Odds are you'll have fun" but I don't see any fun in looking for a hiding place and not being able to spend my winnings fearing somebody might notice.

"Smart lottery winners form trust to claim their winnings."

and

"the attorney would have control over the prize and you wouldn't have discretion over the assets since it would be a "blind trust"."

To remain anonymous we must give our winning ticket to a lawyer whose name we found in the Yellow Pages and then have no control over the assists. It will make nice headlines in the News forum; "Lottery winner sues their lawyer for control of their assists" or "A man claimed he bought the winning ticket and was swindled by a crooked lawyer who placed the winnings in an offshore account and has fled the country". 

What part of "smart lottery winners" don't I understand?

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Gurnee, Illinois
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February 12, 2007
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Posted: March 27, 2008, 7:43 pm - IP Logged Top

My preference is to find a method of play that gives me the best chances of winning a jackpot. It's nice to know that I can remain anonymous in Ohio but it's useless information if the numbers I picked for Mega Millions are drawn in a Powerball game.

The Ohio Lottery has a slogan "Odds are you'll have fun" but I don't see any fun in looking for a hiding place and not being able to spend my winnings fearing somebody might notice.

"Smart lottery winners form trust to claim their winnings."

and

"the attorney would have control over the prize and you wouldn't have discretion over the assets since it would be a "blind trust"."

To remain anonymous we must give our winning ticket to a lawyer whose name we found in the Yellow Pages and then have no control over the assists. It will make nice headlines in the News forum; "Lottery winner sues their lawyer for control of their assists" or "A man claimed he bought the winning ticket and was swindled by a crooked lawyer who placed the winnings in an offshore account and has fled the country". 

What part of "smart lottery winners" don't I understand?

Here's a method of play that would guarantee you winning either the MM or PB jackpots....buy 177 million tickets!!!  Cover all possible number combinations.  Otherwise, just buy a dollar or 10 dollars worth of QPs and hope for the best.

Forget the formulas...you only win when you're lucky!Bed

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Gurnee, Illinois
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Posted: March 27, 2008, 7:48 pm - IP Logged Top

I would say option 2 because no matter what state I lived in and I happened to win a jackpot prize, I would utilize the services of a team of lawyers.  Of course, I would be present at the claiming, so I would not worry about any shinanigans taking place.  Truthfully, I am not so concerned about remaining anonymous as I would be about setting up the appropriate structures to protect my wealth.  I would move into more upscale living accommodations and drive nicer cars. 

Forget the formulas...you only win when you're lucky!Bed

JackpotWanna's avatar - squiz
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Posted: March 28, 2008, 10:46 am - IP Logged Top

I voted #1 and move to a private island.

TexasDreams's avatar - Trek ROMSYM1
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Posted: March 28, 2008, 11:24 am - IP Logged Top

#2, because the beneficiary has control over who is the trustee in any trust. The liability protection a blind trust or any trust, compounded by adding a spendthrift clause makes the assets totally invulnerable to lawsuits or any other judgments, just remember that Jack Whittaker person, I personally feel had he used some sort a good thinking Jack would have better protection, I mean Jack was sued by a pole dancer for sexual harassment, and lost! Also, most trust's have there own tax identification number and files its own tax return therefore, any monies it earns does not go on your returns, so even if you are sued, its not discoverable. You can read Asset Protection 101 from Trump University, it gives a lot  of advice on asset protection for any amount.

A few years ago, billionaire Warren Buffett advised  "Investors should remember that excitement and expenses are their enemies. And if they insist on trying to time their participation in equities, they should try to be fearful when others are greedy and greedy only when others are fearful."

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Gurnee, Illinois
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Posted: March 28, 2008, 1:14 pm - IP Logged Top

TexasDreams, I agree with your signature quote...which is why I like the current market conditions!

Forget the formulas...you only win when you're lucky!Bed

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Posted: March 28, 2008, 4:53 pm - IP Logged Top

Here's a method of play that would guarantee you winning either the MM or PB jackpots....buy 177 million tickets!!!  Cover all possible number combinations.  Otherwise, just buy a dollar or 10 dollars worth of QPs and hope for the best.

A group did something like that in Virginia a few years ago when the $27 million jackpot amount exceeded the 7 million possibilities in their 6/44 Lotto game.  The group only had enough time to buy 5 million combinations but got lucky and had the winning combo covered. Even if the lotteries hadn't changed the rules to prevent a group from tying up terminals, the idea that somebody could obtain the 88 million play slips in Ohio (where they could form a trust and remain anonymous) and have enough time to play them all is silly.

I don't know if it was after 10th or 20th topic I've seen about remaining anonymous and which states allows it when I wondered what is the point. Are California Mega Millions players really flocking to Ohio and Maryland to buy their tickets just so the can remain anonymous?

Other than saying they preferred that the state where they play and live in allowed anonymity, is it really necessary to discuss same subject over and over again when it only affects less than 10 out of millions of players each year?

justxploring's avatar - villiarna
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Posted: March 28, 2008, 5:24 pm - IP Logged Top

The scenario I prefer is

WINNING

 

anonymous, not anonymous, Lotto, Powerball, Mega, annual payments, lump sum.  We all talk about how, when & which way...but I just want to win a jackpot and then worry about the rest. 

(However, my answer is #1)  Smiley

tntea's avatar - Lottery 059
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Posted: March 28, 2008, 10:53 pm - IP Logged Top

I pick 1.. Why give to the lawyer?

 
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