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More lottery winners using trusts to accept prizes anonymously

Topic closed. 69 replies. Last post 11 months ago by OneTrickpony.

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dk1421's avatar - Lottery-024.jpg
North Carolina
United States
Member #64582
September 1, 2008
347 Posts
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Posted: January 13, 2016, 3:20 pm - IP Logged

From the limited research I have done, LLC seems to be the way to go. Of course, if I win, I'd definitely check out the pros and cons of both - using a lawyer, financial planner, and a tax guy.

My understanding (which could be wrong, out of date, etc) is that in a Trust, it is a Board that decides how much to give you every year. If you decide you want a jet, they are the ones to vote on whether or not you are allowed to buy one. Whereupon, an LLC is a limited-liability corporation - you are in charge. In fact, I believe you can have an LLC inside of an LLC. That way, you can dissolve the one everyone now knows since you won, and protect your money in one that no one knows the name of.

There are advantages and disadvantages to both, so it's best to find someone you trust to help you the process.

"Don't be a schmuck, always take the cash." -Coin Toss

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    Portland, OR
    United States
    Member #145973
    August 20, 2013
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    Posted: January 13, 2016, 3:33 pm - IP Logged

    I believe you are describing the blind trust.  There are other better trusts.

    "Understand... people are more complicated than the masks they wear in society... everyone is playing to win, and some people will use moral justifications to advance their side"

                                                                                                                                                              Robert Greene

      BuyLow's avatar - palm tree.jpg
      Florida
      United States
      Member #61435
      May 22, 2008
      906 Posts
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      Posted: January 13, 2016, 3:38 pm - IP Logged

      Are you sure about that? 

      Don't they also release the personal info of winners?

      Like drenick1 says below, why wasn't Gloria advised to do so?

      Can you point me to the article/law on that? Not being antagonistic, just curious.

      Look at the PDFs on the the FL Lottery website....winners for FL Lotto and Powerball, several have only a trust and trustee listed, most used their names in the trust (duh) but why do that if not required.

        MaximumMillions's avatar - Lottery-013.jpg

        Germany
        Member #164603
        March 8, 2015
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        Posted: January 13, 2016, 3:45 pm - IP Logged

        Look at the PDFs on the the FL Lottery website....winners for FL Lotto and Powerball, several have only a trust and trustee listed, most used their names in the trust (duh) but why do that if not required.

        Hm, you mean the winners gallery?

        Because I looked at the claims form and the privacy note, but that one is only about back child support.

        Will investigate further.

        And yeah,I don't understand why people don't use the means they have.

         

        Edit:

        It seems most trust users give a name too:

         

        http://www.flalottery.com/exptkt/pb-jackpotRetailer.pdf

          BuyLow's avatar - palm tree.jpg
          Florida
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          May 22, 2008
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          Posted: January 13, 2016, 3:57 pm - IP Logged

          Look at #2 on the back of the claim form for the FL Lottery also. edit...heck read all of it.....

           

            MaximumMillions's avatar - Lottery-013.jpg

            Germany
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            March 8, 2015
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            Posted: January 13, 2016, 4:11 pm - IP Logged

            Look at #2 on the back of the claim form for the FL Lottery also. edit...heck read all of it.....

             

            Aaaah 

            So you can use a lawyer as a proxy (unless that's only for handicapped people)

              BuyLow's avatar - palm tree.jpg
              Florida
              United States
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              May 22, 2008
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              Posted: January 13, 2016, 4:19 pm - IP Logged

              Aaaah 

              So you can use a lawyer as a proxy (unless that's only for handicapped people)

              Read #5 US Person can be an entity...... Wink

                MaximumMillions's avatar - Lottery-013.jpg

                Germany
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                March 8, 2015
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                Posted: January 13, 2016, 4:45 pm - IP Logged

                Read #5 US Person can be an entity...... Wink

                However did I miss all that? LOL

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                  Dallas,TX
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                  Member #152930
                  March 1, 2014
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                  Posted: January 13, 2016, 5:15 pm - IP Logged

                  A few comments / questions about the Power Ball Lotto game - and tonight is gonna be rough on small retail stores.  Which brings up the first comment.

                  1. The reasoning to reveal the Winner(s) of the jackpot is to "show that there IS a real winner(s), not some scam, scheme, etc."  Well, even IF winner(s) aren't plastered on every TV channel, newspaper, I would assume that someone or a couple of someone's WON, right?  I don't need to see them or their picture holding a monster check.  A.  It is dangerous to the winner - everyone from relatives to the Russian mob is watching this, kidnapping is NOT a frivolous possibility when you are talking about suddenly being worth FIVE TIMES the total worth of, say Taylor Swift (worth @ $300 MILLION).  It should be a choice and some idiot wanted to provide anonymity for 1/4 the Jackpot amount!  KMA, dude.  You can take home 1.5 BILLION but can't choose whether to remain anonymous on winning!?  Get real.  However, a winner has time to line-up security PROS and make arrangements before being made to accept (a Trustee can do that, but 'Open Records Law' permits some knowledge as to WHO the Trustee of Corp. is and the name of who set-up Trust.
                  2. I like the advice of 2 of the Shark Tank crew - Kevin said "because of such a huge amount, get into Four or Five of the biggest, largest banks and buy Govt. Securities that pay 4% (and are almost 100% secure) and you will make @ $600,000 a MONTH without touching the principle (if you take the Cash Option.  That way, you make 2/3 of a Million USD without touching ANY of the money and can keep this up forever - the money isn't guaranteed by the bank, but investment into these unique investments is like a buffer and not ALL four banks would go broke or go under.  That way, he said it is easier (and you make money) keeping track of what is a single investment idea and not spending any of the original money.  Then, when you get your first $600K, you can spend, buy whatever you need-want, AND - this is good - you can GIFT relatives (or whoever) some money and with this one caveat: "I'm giving you this ONLY ONE TIME - the Trustee has control (Shark 'Barbara' says to make a Trustee the 'bad person') and then, it isn't YOU - it's a Trustee - and only allowed ONE $ gift - period."  There is a slight risk "A" bank could default, but not likely"- FDIC guarantees up to $100K per acct, but it would be <snip> near impossible to keep track or even make time to divide all that money.  So, it's not like an "end of World" issue if CitiBank went under (and everyone would lose money, all of it).  Good plan and it would give you time to get yourself 'out of Dodge' by then.  And, even IF your name was found out, you would be 'somewhere-nowhere'. This kind of money is different - so, if you can 'think it', well it can be done.
                  3. Secure yourself-your money-your future - your family, kids or parents, someone very special or all of them - with this one plan.  And, best of all, you would never, ever need to have 500 people to handle your worth or have continued callsl.  Keep it very simple - no need to go into stocks, or buy islands, or anything - if you played it right, you could do this:  Say it's all in place, you bought the Municipal-Govt paper, pays you 4% and first month, you make $600K.  But, you are going to spend SOME money, right? Of course, so if you just made the $600K every month and spent a Maximum of $1,200,000 that first year, you would STILL make an 'additional $6,000,000' the first year.  So, the 2nd year, you could spend $3 MILLION and make an additional $6 Million (smart - you would roll the first $6 Million into the 4% paper and now, you can spend more AND make more - and you STILL haven't touched the original :)  Imagine where you would be in 10 years!  And, with a Finance Wizard-Tax Professional, you could owe ZERO amount of TAX with buying-providing charitable 'gifts' that would off=set your money being made on your investments.  Churches, schools, hospitals and 'land for use' = you own the land, but Organizations use it for operations, you are donating the SPOT and location for the Charity to flourish.
                  4. You are SET - You have a PLAN - You have a Trust & Trustee - You are careful to be hidden and secure - Your wealth increases and the items you purchase are the type of items that have value that 'remains/grows AND sustains' - land, vacation mansions, collector items, paintings - you get the idea.  Even Pro Sporting Teams (if you are into that) and, yes, they make money, too.  So, charitable goods that help with taxes, help the Charity, and can make money, as well. Your TOP NOTCH Trustee + Financier will show you the way. 
                  5. So, you will get to spend = a LOT or "a whole bunch of a TON of a LOT of money" and not spend all your time watching it.  You enjoy it with a plan like Kevin O'Leary said to do.  Even IF you and another split it the Jackpot?, you are fine - even IF there were 25 people - you are FINE.

                   

                  Which brings me to a question - I had purchased several tix ($21 total) and was sitting outside, and was watching the line of people - and suddenly, they all came out looking upset.  I asked what happened (thinking it was a malfunction, machine issue) THEN, I was told that - quote- "The drawing was 10-12 minutes EARLY, cut off early and drawn early.  Did anyone else hear about this???  IF true, then WHY would this be happening?  Why would the LOTTO deciders start the drawing early and cut-off MILLIONS of people who were buying tix?   This bothers me, because it tends to bolster my 'already set belief' that KEY COMBINATIONS are known and once a single 'set' with the '13' bonus ball was found?  Officials decided to 'run with it' and knew there were no winners at that instant.  What other reason could there be to forfeit money, lose money?  It had better be good reason.  Assuming that the early draw was a FACT.  About 12 minutes early is what I heard.  And, yes, I am one who may believe that certain modes of action are utilized by all Lottery games, and in all States.  It's all about the Watchers.  Exactly who is it, then that are the ones chosen / hired to 'watch the watchers' of LOTTO ? 

                  CC     GL tonight 

                   

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                    OneTrickpony's avatar - thought

                    United States
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                    July 25, 2015
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                    Posted: January 13, 2016, 6:08 pm - IP Logged

                    Thank you CashCrown!  That is very good advice for the winner(s) of tonights Powerball or other large sums.