Welcome Guest
Log In | Register )
You last visited January 19, 2017, 4:14 pm
All times shown are
Eastern Time (GMT-5:00)

Opinion: Powerball winners will lose big if they go public

Topic closed. 56 replies. Last post 5 years ago by Lots O-Luck.

Page 4 of 4
53
PrintE-mailLink
Colt45ML's avatar - 4eyes
Jawja
United States
Member #87469
February 25, 2010
109 Posts
Offline
Posted: September 16, 2011, 10:57 pm - IP Logged

How would you feel if your wife did the same thing... established a corporation in HER name first, before telling you?  Curiosity makes me ask.  Mostly because if my spouse did the same thing, I'd be doing this --> Chairto him.  Lucky me, I don't have to worry about a spouse who would go behind my back anymore. I solved that problem. Hit With Stick

What if he established a trust with him as garrantor (the person that establishes the trust and appoints the trustee) and you and he as equal beneficiaries?  This is what I'd do.  My wife is my one and only love, but she does have her faults, and having trouble keeping her mouth shut about stuff like this is one of them.  I'd let her know as soon as the money is safely overseas, and we are on our second honeymoon in the country where the trust is.  It would be for her own good, and mine too.

Be sassy and be happy.

    TheOtherOne's avatar - Lottery-027.jpg
    Nashville, TN
    United States
    Member #86739
    February 9, 2010
    483 Posts
    Offline
    Posted: September 16, 2011, 11:00 pm - IP Logged

    How would you feel if your wife did the same thing... established a corporation in HER name first, before telling you?  Curiosity makes me ask.  Mostly because if my spouse did the same thing, I'd be doing this --> Chairto him.  Lucky me, I don't have to worry about a spouse who would go behind my back anymore. I solved that problem. Hit With Stick

    Scroll down to my next post after that for explanation.

      Avatar
      Republic of Texas
      United States
      Member #57557
      January 9, 2008
      1095 Posts
      Offline
      Posted: September 16, 2011, 11:12 pm - IP Logged

      Such faith and trust you both have in your wives. Seriously, I'd be pissed if my husband made those decisions without me.  It's a breach of the marriage partnership, and a sign of distrust. Just giving you boyz the women's point of view. You do what you think is the right thing because that's what you boyz tend to do.

      face

      singlewinnersinglewinnersinglewinner   

        TheOtherOne's avatar - Lottery-027.jpg
        Nashville, TN
        United States
        Member #86739
        February 9, 2010
        483 Posts
        Offline
        Posted: September 16, 2011, 11:51 pm - IP Logged

        What if he established a trust with him as garrantor (the person that establishes the trust and appoints the trustee) and you and he as equal beneficiaries?  This is what I'd do.  My wife is my one and only love, but she does have her faults, and having trouble keeping her mouth shut about stuff like this is one of them.  I'd let her know as soon as the money is safely overseas, and we are on our second honeymoon in the country where the trust is.  It would be for her own good, and mine too.

        Yes! egg-zactly what Colt45ML said.

          Avatar
          Baton Rouge, LA
          United States
          Member #4602
          May 7, 2004
          700 Posts
          Offline
          Posted: September 17, 2011, 6:42 pm - IP Logged

          In Louisiana, winners can claim using a trust and it has been done many times.  The problem with corporations and LLCs is all the members are a matter of public record and can be easily found through an online searchable database.  It is possible to find out who is in a trust, but it takes more work than just opening the newspaper, watching the evening news, or going online.

          Prisoner Six

          "I am not a number, I am a free man!"

            Avatar
            Elgin, IL
            United States
            Member #93542
            July 2, 2010
            318 Posts
            Offline
            Posted: September 18, 2011, 2:47 am - IP Logged

            The lottery doesn't care about your safety, they just want to sell more tickets. My state says you have to do a press conference, but there should be way around it.

             

            There's nothing wrong with buying Porsche, but after you have moved out of your old neighborhood.

              Avatar
              Tampa, Florida
              United States
              Member #116732
              September 18, 2011
              30 Posts
              Offline
              Posted: September 18, 2011, 9:16 am - IP Logged

              I can't for the life of me understand why people would want to go public.

                Avatar
                Elgin, IL
                United States
                Member #93542
                July 2, 2010
                318 Posts
                Offline
                Posted: September 19, 2011, 6:38 am - IP Logged

                Such faith and trust you both have in your wives. Seriously, I'd be pissed if my husband made those decisions without me.  It's a breach of the marriage partnership, and a sign of distrust. Just giving you boyz the women's point of view. You do what you think is the right thing because that's what you boyz tend to do.

                Women lie, Men lie, Numbers don't.

                  rdgrnr's avatar - walt
                  Way back up in them dadgum hills, son!
                  United States
                  Member #73904
                  April 28, 2009
                  14903 Posts
                  Offline
                  Posted: September 19, 2011, 7:46 pm - IP Logged

                  Women lie, Men lie, Numbers don't.

                  Computers been caught lying too.

                  In Tennessee.


                                                               
                                       
                                                           

                   

                   

                   

                   

                                                                                                                     

                  "The only thing necessary for evil to triumph is for good men to do nothing"

                                                                                                              --Edmund Burke

                   

                   

                    tiggs95's avatar - Lottery-036.jpg

                    United States
                    Member #47420
                    November 4, 2006
                    3930 Posts
                    Offline
                    Posted: September 19, 2011, 8:47 pm - IP Logged

                    tiggs...not lie...!!!..

                                                                              Pure luck

                      Avatar
                      Elgin, IL
                      United States
                      Member #93542
                      July 2, 2010
                      318 Posts
                      Offline
                      Posted: September 21, 2011, 4:27 am - IP Logged

                      Computers been caught lying too.

                      In Tennessee.

                      lol

                        Avatar
                        New Member

                        United States
                        Member #90102
                        April 22, 2010
                        8 Posts
                        Offline
                        Posted: September 22, 2011, 6:17 pm - IP Logged

                        There are some great suggestions listed and I agree anonymity is the key.  I'd like to do my research from now and was wondering what are some key words I should google to search for a law firm that's ideally suited to set-up trusts, transfer monies, and handle minimizing tax impacts on investments?  Would family offices be a good place to start?  Are there any books out there geared towards this type of stuff?