Claiming A lottery Jackpot Intelligently

Reply #7

iGlenn — Mon, 05 Sep 2011 20:55:57 GMT

1. I only buy my tickets in a state that allows anonymity, and I'd probably claim it as an individual, but when the opportunity arrises I'll be consulting my tax attorney and accountant to discuss my options.

2. Same way I do now. Many think I already won the lottery or I'm in debt up to my eyeballs based on my lifestyle, but the reality is I've done pretty well with my investments. I just don't discuss personal financial matters with friends or family.

3. If I claim it individua... [ More ]

Reply #6

Raven62 — Mon, 05 Sep 2011 13:46:03 GMT

#1: Win the Jackpot!

#2: If You Haven't Done #1: No Need to Continue

Reply #5

Coin Toss — Mon, 05 Sep 2011 06:42:26 GMT

1. Jackpot Winners Protection Program

2. Jackpot Winners Protection Program

Such a thing doesn't exist. I used to joke about it but it sounds like a better idea all the time.

Reply #4

joshuacloak — Mon, 05 Sep 2011 05:53:56 GMT

1#

Trust, hiding behind lawyer, aka lawyer claims, is public face

i noticed people have trust's behind trusts

aka i seen my self a trust claim, and have a education trust and a medical trust , as some of the trust beneficiarys

aka its simple, create a trust, have the lawyer as truste, the beneficiary can be other trust, you now have a epic firewall

frist trust pays all the taxes, ifs a large jackpot its 35% max cap in usa atm. sends rest to 2nd trust, where your the beneficiary ,... [ More ]

Reply #3

sully16 — Mon, 05 Sep 2011 03:37:25 GMT

1. That depends on the game, mega or powerball you need to come forward, I would wear a hat and sun glasses and a lottery post t-shirt.

2.Big fence and lots of weapons.

3. Thats would depend on what my accountant recommends .

4. spend as much as I could as fast as I could.

5.Invest in land.

Reply #2

Piaceri — Sun, 04 Sep 2011 18:54:19 GMT

Good questions.

1. How would you claim the prize? (individually, Trust, etc.)

Claim as a Family Limited Partnership, unless my advisors suggest differently.

2. How would you maintain your privacy?

Texas has limited publicity, plus I'd have my atty claim as representative.

3. What type of account would you use to wire transfer a multi million dollar prize?

That would be up to my advisors. I don't know enough to make that decision, but probably a MMA in order to disburse i... [ More ]

Reply #1

smart player — Sun, 04 Sep 2011 17:18:59 GMT

I would like to ask 5 questions of you all to gain various perspectives. I have my own ideas, but first I would like to read what you all think.

1. How would you claim the prize? (individually, Trust, etc.)

2. How would you maintain your privacy?

3. What type of account would you use to wire transfer a multi million dollar prize?

4. Which creative tax strategies would you utilize to minimize your taxes?

5. How would you invest to make your money work it's hardest without assu... [ More ]

Claiming A lottery Jackpot Intelligently

smart player — Sun, 04 Sep 2011 16:40:47 GMT

I, like most of you, enjoy thinking about what I would do if I won a large lottery jackpot. I think about such things as claiming, privacy, taxes, investment, etc..