Forming a Trust... any links to info?

Reply #35

WILLSELL — Sat, 02 Aug 2003 00:46:58 GMT

All you need are two good people. An Accountant to watch the monet and a lawyer to protect it.

Reply #34

rundown99 — Fri, 01 Aug 2003 19:35:09 GMT

Actually, the woman who won the $13.5 million powerball in Kentucky is anonymous. I thought Delaware was the only state in which someone could become anonymous without forming a trust, but apparantly, some states will make exceptions.

Reply #33

midwstrngirl — Fri, 18 Jul 2003 01:24:17 GMT

glad to hear it...perso

Reply #32

visiondude — Fri, 18 Jul 2003 00:53:41 GMT

they would KNOW that i am n

Reply #31

midwstrngirl — Thu, 17 Jul 2003 22:50:13 GMT

so the truth is out....visi

Reply #30

visiondude — Thu, 17 Jul 2003 14:56:02 GMT

i suppose when my neighbors see me dressed up like P. DIDDY (i am white) and driving my bling bently, they will know THAT IT'S ME !!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!VDQPLS

Reply #29

hypersoniq — Thu, 17 Jul 2003 12:26:49 GMT

It has been done before... seems like the best way to remain anonymous...District of ColumbiaThe winner of the December 11, 1999 Powerball drawing has formed a trust to claim the prize. Although the lottery has checked out the winner as required by law and rules, the $24,463,084.04 lump sum prize is being claimed by a trustee. The Lottery confirmed that the winner is from Maryland, is at least 18 years old, and is not a DC lottery employee. Trustee H. Dean Bouland says his client has not quit hi... [ More ]

Reply #28

rundown99 — Thu, 17 Jul 2003 12:01:45 GMT

If you ever win it, you would have to take a leave of absence so you could set up that trust. I think TC said a while back that it takes like 3 weeks to set one up.

Reply #27

visiondude — Thu, 17 Jul 2003 02:01:06 GMT

it's all starting to add up.i hit it big and move to switzerland where me and shania twain are neighbors. yea, thats the ticket. (or maybe i will visit her when i visit my $$$$$$$$$$$$$$$$$$$)yeeeeeeeeeeeeeeeeeehhhhhhhhhaaaaaaaaaaaaaaaaaaw ANDwaaaaaaaaaaaaaaahhhhhhhhhhhhhhhooooooooooooooooVDQPLS

Reply #26

midwstrngirl — Thu, 17 Jul 2003 01:29:47 GMT

oh and p.s. i wasn't mad i am just jokin with you guys...but i do appreciate you all the assurances

Reply #25

midwstrngirl — Thu, 17 Jul 2003 01:27:25 GMT

that is why i like offshore asset protection in places that have bank privacy...check out this websitehttp://www.swissgnomes.com/i hear you visiondude...you don't even need to be rich to use these strategies, its sad that you have to protect yourself from attack and look at everyone as a potential litigant, but it pays to be prepared

Reply #24

visiondude — Wed, 16 Jul 2003 20:56:26 GMT

Quote: Originally posted by hypersoniq on July 16, 2003As far as being all 3 entities, true it may not be necessary to also make yourself the beneficiary, but it is common practice in a living trust to be both grantor and trustee. Remember, the ultimate goal is anonymity, so given that the trust has no extra tax penalties and serves the end goal, IMO it appears to be the best way to go.true. anonymity and mutiple firewalls . that is why i talked about multiple trusts and even changing the names... [ More ]

Reply #23

hypersoniq — Wed, 16 Jul 2003 13:17:28 GMT

Quote: O

Reply #22

rundown99 — Wed, 16 Jul 2003 12:42:51 GMT

Hey, wait a minute!!! For C

Reply #21

visiondude — Wed, 16 Jul 2003 00:47:14 GMT

midwstrngirl,this

Reply #20

Todd — Wed, 16 Jul 2003 00:38:12 GMT

Don't be mad - that's just our sophomoric side showing. Your posts made a lot of sense.

Reply #19

midwstrngirl — Wed, 16 Jul 2003 00:35:31 GMT

hey, i think i resent that...

Reply #18

rundown99 — Tue, 15 Jul 2003 16:46:19 GMT

Quote: O

Reply #17

visiondude — Mon, 14 Jul 2003 23:22:03 GMT

todd,she is only responding to you because you are the grandmaster/webmaster and you have a corvette.don't worry though, i have your back (lol)VDQPLS

Reply #16

Todd — Mon, 14 Jul 2003 23:14:54 GMT

Nicely stated.

Reply #15

midwstrngirl — Mon, 14 Jul 2003 22:50:08 GMT

thanks todd! i like to t

Reply #14

Todd — Mon, 14 Jul 2003 22:33:54 GMT

midwstrngirl,Great

Reply #13

midwstrngirl — Mon, 14 Jul 2003 20:48:34 GMT

good things come to those w

Reply #12

hypersoniq — Fri, 11 Jul 2003 23:07:42 GMT

even if you never win big, it makes sense as a way to leave assets to your faimily if something should happen to you and avoid probate...

Reply #11

Thomas Covenant — Fri, 11 Jul 2003 23:04:42 GMT

The question is, can you wait long enough to set one up

Reply #10

hypersoniq — Fri, 11 Jul 2003 23:01:03 GMT

Quote: Originally posted by konane on July 01, 2003 Look for something which makes more sense like a personal corporation instead of giving away the power over your own money to a trustee .Most corporations, including personal ones, are required to keep public records.If you are the Grantor, Trustee AND beneficiary, you have ALL the power. If the attorney that cashes in your ticket (already signed in the name of the trust) is limited in scope and power by a properly drafted trust document, then... [ More ]

Reply #9

hypersoniq — Fri, 11 Jul 2003 22:51:12 GMT

I believe I found the answer...A Personal Property Trust . It is of the intravivos revocable type. It is similar to the Land Trust that Real Estate investors who own multiple rental properties use to limit their liability in a tennant lawsuit to just the one property.You can form the trust well in advance of winning, for $1 if you want and add assets as they are acquired. With this type of trust, you can make yourself the Grantor, the Trustee AND the Beneficiary. Name a spouse as Successor Tr... [ More ]

Reply #8

hypersoniq — Wed, 02 Jul 2003 16:40:47 GMT

thanks again, more great reading

Reply #7

midwstrngirl — Wed, 02 Jul 2003 15:33:15 GMT

konane,i do not have the facts of the case you are speaking of, because you did not provide the name of the case. please provide me with the name of the case...i am very curious about it. in your example though, it sounds like the settlor did not pick his own trustee, rather the trustee was a stranger appointed by the courts who may or may not have an understanding of the settlors true wishes before death. even so, the trustee still has a ficuciary responsibility to act in the best interests o... [ More ]

Reply #6

hypersoniq — Wed, 02 Jul 2003 13:02:37 GMT

thanks midwstrngirl, great link!The whole point would be to maintain anonymity in a state where winner's data is public domain... a trust just seems to be the simplest way to do that... are there other ways

Reply #5

midwstrngirl — Wed, 02 Jul 2003 12:31:12 GMT

konanean estate does not end up in a trust. the deceased (settlor) placed it in a trust, and might have had a good reason. a trustee receives a fee for administering the trust, however, this is decided at the time the trust is formed and cannot be changed by the trustee arbitrarily. trustee's have a fiduciary responsibility and are bound by professional ethics. they are required to manage the assets in the best interests of the beneficiaries, they have no beneficial interest in the assets... [ More ]

Reply #4

konane — Tue, 01 Jul 2003 11:46:59 GMT

Bottom line... no one

Reply #3

Greg — Tue, 01 Jul 2003 11:34:37 GMT

The only person I would trust is Suze Orman as far as what are safe places to put your money in. She is top notch. Outside of her, I wouldn't give all the money to just one financial planner. I'd have several planners compete with each other to make money on the money.

Reply #2

konane — Tue, 01 Jul 2003 11:13:28 GMT

A close relative's estate ende

Reply #1

visiondude — Mon, 30 Jun 2003 20:23:57 GMT

trusting someone else with your money involves trust .ultimately you are looking for somebody that you can trust. if you are not currently in a relationship with a financial advisor then you can get referrals from PEOPLE that you do trust. that would be a good place to start.you know also that if you need to you get have background checks done. it took you awhile to get in this situation and the trick is to NOT be in a hurry. take care of it right the first time around. if you have to, put your... [ More ]

Forming a Trust... any links to info?

hypersoniq — Mon, 30 Jun 2003 12:47:49 GMT

I can't seem to find any go