After the Win: Who do you consult?Prev TopicNext Topic

• justxploring

  

  Wandering Aimlessly
  United States
  Member #25,359
  November 5, 2005
  4,461 Posts
  Offline
  Apr 11, 2006, 3:43 am

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  You're welcome, Lollipop! 
• savagegoose

  

  adelaide sa
  Australia
  Member #37,135
  April 11, 2006
  3,341 Posts
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  Apr 11, 2006, 8:03 am

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  hi all ,

  1 talk to professionals that you would know use lawyers, accountants financial planners etc.

  2 when talking to the  people you want to arrange things with; dont give the game away to the 1st one you talk to,  like say woo hoo i won $x million.   even lie about inherriting some small sum like $100k or less.

  3 theres many financial planners , and ways of them getting paid.

   

  id avoid,  commision bassed, and trailing commission based.

  some fee for FA will even refund any comissions, and trailing comissions.

  the reason i say this is fa's can be more interested in getting their best comission, not your bests interests.

  you can get FA that will base fees on performance of your investements.  they dont get paid if your investments perfoming, and are prob motivatee in geting good returns.

   

  Id go for a str8 fee for service , with no comissions form investment houses or refund of trailing comissions etc.

   

  all i can think of 4 now
• savagegoose

  

  adelaide sa
  Australia
  Member #37,135
  April 11, 2006
  3,341 Posts
  Offline
  Apr 11, 2006, 12:01 pm

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  thought of another,  estate planning and testimentory trusts!

   

  you want your wishes for after you are dead to be declared. even a trust  that issues shares to descendants , after they meet certian requirements in their life? like a degree in finanncial planning!

  a car when they graduate from high school, a certaIN AMOUNT OF CASH FOR EVERY DOLLAR THEY EARN.

  tax paid by the trust, and as theyre going to be financial planners a cut off at say the average anual wage, so that they leave some money in the trust for futre descendants.

   

  you could really knock yourself out setting up trusts,