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$356 MILLION: Mega Millions lottery jackpot nears record

Topic closed. 449 replies. Last post 5 years ago by Jill34786.

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Lavender Rocket

United States
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March 16, 2012
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Posted: March 25, 2012, 8:10 pm - IP Logged

At least cover every mega ball number then you will be guaranteed somethin back lol

lol - now that sounds like an interesting plan.  and if you are going to play 100$'s worth... get the megaplyer while you are at it and then you will have 50 tix covering ALL the possible MB's w/ mp... and get a min guaranteed of 4$ back minimum!

Me?  I'm sticking with my 2$ for 2 draws.

    HaveABall's avatar - rocket

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    Posted: March 25, 2012, 8:13 pm - IP Logged

    Depending where you set up the trust and charitable foundation, you can expect to spend 10-15k if you have your attorneys do all the leg work. You could minimize the cost if you did some of the paper work yourself but I don't think you would really care about saving a few thousand dollars if you won Wink

    Also, there are several small/solo practice, experienced, tax lawyers that will do the 1.5 month worth of work for $5K.  It's all negotiable.  Some of the time is spent waiting for charters/documents to arrive in the mail from the government (unless you inform the tax lawyer that you are willing to drive to the government office, submit your paperwork, wait on the bench a couple of hours, and drive to lawyer's office to deliver final paperwork).

    Mail For You

    Having several millions of dollars in my financial accounts means receiving several valuable services each day!

    Disney

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      illinois
      United States
      Member #125125
      March 25, 2012
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      Posted: March 25, 2012, 8:17 pm - IP Logged

        Anytime you come upon millions , everyone needs a solid plan. There's many positive stories when winning the lottery.

         First ...don't tell the world you won . Second ....copy the ticket .....third ....hide it or put it in a safety deposit box .

         And of course sign it the back . REad everyone comment on here , best advice . Smile 

         Brad Dukes has a solid plan .


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        May 25, 2011
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        Posted: March 25, 2012, 8:20 pm - IP Logged

        Also, there are several small/solo practice, experienced, tax lawyers that will do the 1.5 month worth of work for $5K.  It's all negotiable.  Some of the time is spent waiting for charters/documents to arrive in the mail from the government (unless you inform the tax lawyer that you are willing to drive to the government office, submit your paperwork, wait on the bench a couple of hours, and drive to lawyer's office to deliver final paperwork).

        Mail For You

        Don't always go for the lowest/cheapest  proposal however. Within reason, you get what you pay for. What good is saving a few thousand  $$$

        if federal/state tax laws are over looked? For a win of this magnitude, don't be a chump, get the most experienced tax pro's available. This really

        is just pocket change were talking about.   Roll Eyes

          HaveABall's avatar - rocket

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          Posted: March 25, 2012, 8:23 pm - IP Logged

          Don't always go for the lowest/cheapest  proposal however. Within reason, you get what you pay for. What good is saving a few thousand  $$$

          if federal/state tax laws are over looked? For a win of this magnitude, don't be a chump, get the most experienced tax pro's available. This really

          is just pocket change were talking about.   Roll Eyes

          Yep, mcginnin56, that is why I made sure to include the word "experienced" in my first sentence.

          Having several millions of dollars in my financial accounts means receiving several valuable services each day!

          Disney

            Jill34786's avatar - Lottery-006.jpg
            Windermere, FL/Franklin, TN
            United States
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            March 1, 2007
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            Posted: March 25, 2012, 8:26 pm - IP Logged

            I think it's time. Im going for my first an last $100.00 buy of tickets. I bought 1000 powerball tickets on my birthday and didnt even win the 100 dollar prize so this is definitely my last shot at big spending on powerball or mega millions EVER! Good luck guys

            A thousand tickets for one drawing?? I must be a cheapskate as I probably don't even buy 100 tickets per year  Eek


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              Posted: March 25, 2012, 8:26 pm - IP Logged

              Yep, mcginnin56, that is why I made sure to include the word "experienced" in my first sentence.

              "EXPERIENCED" tax attorney's don't come that cheap HaveABall, trust me I have several attorny friends who know better!   Wink

                Jill34786's avatar - Lottery-006.jpg
                Windermere, FL/Franklin, TN
                United States
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                March 1, 2007
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                Posted: March 25, 2012, 8:32 pm - IP Logged

                  Anytime you come upon millions , everyone needs a solid plan. There's many positive stories when winning the lottery.

                   First ...don't tell the world you won . Second ....copy the ticket .....third ....hide it or put it in a safety deposit box .

                   And of course sign it the back . REad everyone comment on here , best advice . Smile 

                   Brad Dukes has a solid plan .

                Brad Duke had a plan in which he would have a net worth of a billion dollars within a time frame of 10-15 years. Last I heard, he was about even with where he started.


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                  Posted: March 25, 2012, 8:37 pm - IP Logged

                  Brad Duke had a plan in which he would have a net worth of a billion dollars within a time frame of 10-15 years. Last I heard, he was about even with where he started.

                  That is what he said in his last interview. That would be fantastic if he hasn't lost a penny of his earnings thus far! Let us all be Brad Dukes!   Cheers

                    haymaker's avatar - Lottery-012.jpg
                    Egg Harbor twp.south Jersey shore
                    United States
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                    June 29, 2011
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                    Posted: March 25, 2012, 8:41 pm - IP Logged

                    Brad Duke had a plan in which he would have a net worth of a billion dollars within a time frame of 10-15 years. Last I heard, he was about even with where he started.

                    in this economy if hes still even after 7 yrs. hes doing OK .

                    Extraordinary Popular Delusions & the Madness of Crowds    -- Charles Mackay  LL.D.

                      Jill34786's avatar - Lottery-006.jpg
                      Windermere, FL/Franklin, TN
                      United States
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                      March 1, 2007
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                      Posted: March 25, 2012, 8:41 pm - IP Logged

                      Don't always go for the lowest/cheapest  proposal however. Within reason, you get what you pay for. What good is saving a few thousand  $$$

                      if federal/state tax laws are over looked? For a win of this magnitude, don't be a chump, get the most experienced tax pro's available. This really

                      is just pocket change were talking about.   Roll Eyes

                      I think HaveABall was just referring to cost associated with setting up different trusts and charitable foundation.

                       I agree that a good tax attorney can be quite costly but are well worth it when looking for ways to minimize taxes.


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                        Posted: March 25, 2012, 8:42 pm - IP Logged

                        in this economy if hes still even after 7 yrs. hes doing OK .

                        And then some!!!

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                          illinois
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                          March 25, 2012
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                          Posted: March 25, 2012, 8:47 pm - IP Logged

                          I can think of other couples who won the lottery , did very well .

                          One in Idaho , won millions , said they only spent $4 million.

                           Another family in Oregon , moved and brought a  home ,

                          taking it easy too .  There's positive stories out of this .

                          Live off the interest .......

                            Jill34786's avatar - Lottery-006.jpg
                            Windermere, FL/Franklin, TN
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                            March 1, 2007
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                            Posted: March 25, 2012, 8:55 pm - IP Logged

                            in this economy if hes still even after 7 yrs. hes doing OK .

                            He did get hurt by the housing crisis and if it weren't for that he would have a fair amount of gains from his investments.


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                              Posted: March 25, 2012, 8:58 pm - IP Logged

                              I think HaveABall was just referring to cost associated with setting up different trusts and charitable foundation.

                               I agree that a good tax attorney can be quite costly but are well worth it when looking for ways to minimize taxes.

                              Even still...with the complex ever changing tax/trust/charitable laws require's seasoned experienced attorneys who know what they are doing.

                              Sure you can save a few bucks shopping around, and I'm all for that!

                               

                              Based on my personal experience with attorney friends however, particularly with a huge lottery windfall of this magnitude, you don't want to hire

                              out the cheapest help. That would be akin to hiring a surgeon with minimal experience to operate on your husbands open heart surgery.  Razz

                                 
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