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What would you do if you had the winning lottery ticket BUT.

Topic closed. 35 replies. Last post 9 years ago by Viceroy.

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United States
Member #28453
December 16, 2005
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Posted: May 1, 2007, 3:59 pm - IP Logged

First of all, let me introduce myself,

My Name's Viceroy, I have been trying to work on this problem for about a month now.... and I'm going to post it to you, to see what you have to say, I am looking forward to hearing any comments, or suggestions, and I hope that there is someone on this board with maybe a little knowldge as to a certain part of the subject matter that I am trying to convey....

Anyway, Here goes.

Let's say for instance you bought what turned out to be the WINNING POWERBALL TICKET. You just seen the numbers flash on the TV screen, and your Numbers match......HOORAY!

But now you come across a dillema.

After reading accounts of Identity theft, and accounts of the alternative minimum tax eating away at people's lives (AMT supposed to soak the rich, drawn everyone in middle class instead), and stories of greedy family members, and wives and how horrible some peoples lives end up becoming after BIG LIFE ALTERING WINS.....(jack whittaker, for example)

....all that has turned you  completely paranoid, and fearful...(not fearful enough to stop playing or god forbid tear up the Winning ticket)

So there you are, about to "follow the rules" and IN INK put YOUR NAME to the back of the ticket to start the process of claiming your win.

But you stop, right before that pen touches that paper.

You realize that putting your name to the back of that winning ticket turns that BEARER INSTRUMENT (read anonymous) into a REGISTERED INSTRUMENT (meaning linked to you)

and you start to sweat. You have to. because this is the FIRST step in a process that may make you lose control of your life and your future as you know it...;..and if you kept your mouth shut and did not scream out....ONLY YOU...know that the winning ticket is in your possesion.....

AT THIS STAGE OF THE GAME You can probably be sure that the lottery knows that SOMEONE won, but they are not sure WHO...and they do not immediately know that its YOU (unless someone at the mini-mart you purchased that ticket at blabbed, or provided security tapes to lottery officials, to go through the process of DL photo matching)

I will postulate this to you.....and I want you to keep this in mind should you ever win....

FREINDS, FAMILY MEMBERS, BUSINESS ASSOCIATES, even second cousins thrice removed who you never heard of will SOAK YOU FOR EVERY LAST POSSIBLE DIME YOU STAND TO GET, and THEY BELIVE THEY ARE ENTITLED TO THAT WINNINGS, no matter what you think, feel or  or say...You are just a means to that greenback ending up in THEIR POCKET. Not yours. THink about it.

Love your family, love your church, love your freinds, but NEVER EVER EVER let tham use you as a conduit to that money.

NOT TO MENTION GOVERNMENT, who take 25% off the top through a W-4G and have it all set up before you even walk through the door, because they know someone won that night (even if they are really not sure WHO) and I guarantee you that AMT that i spoke about before will try to extract EVEN MORE...

So there you are....ready to put pen to the back of the ticket, and you stop REALIZING ALL THIS....

What do you do?

Well, in the one instance of family and freinds, you have to control WHO KNOWS, and preferably WHO DOESN'T KNOW(and to control suspiscion)...Preferably you do not want ANYONE TO KNOW until that money if safely locked away in a bank account that you control, and no one else can touch it, or you to get it (hanger on's or loan shark "friends", or greedy ex-wives)

And in the case of the Government, you want to minimize the amount of taxes, and other expenditures taken out of that pile. ESPECIALLY if you wanted CASH option.

Preferably you only want them to be able to tax it TWICE ONLY (once for federal, once for state), before it goes into your hands. and if you make any money OUTSIDE OF YOUR WIN that year(wages tips etc.) you only want Government to tax what you made, and not have to risk being exposed to the AMT. or even double taxation.

Never mind money made as return on investments that you use PART OF THE PILE to generate, which you only want taxed on the gains ONLY and not the pile.

Correction of things at their end may take long and arduous process that TAKE TIME, and time is MONEY out the window. So you want to minimize or eliminate that problem before it gets a chance of rear its ugly head.

 ------------------------------------------------------------

SO. I have been looking at Corporation brokers as a way to solve this problem. The idea being...You buy a dummy corporation.

You have dummy corporation walk in (instead of you) and say to the Lottery officials...

"We hired someone out of state and he purchased aforementioned ticket for us. He was compensated for his time and effort and is no longer with the company.. and wishes not to be bothered. .Here is the winning ticket, let's process it, please, and here is the account we wish to send funds to."

All the while YOU are hanging back at the hotel room, in FULL CONTROL of the agents walking in in your place, What exactly they are to say to lottery officials, and any responce they could give to officials if they stant getting REALLY NOSY...(because in some powerball states, they want the NAME AND LOCATION of said person who bought the ticket, because they want to bother said person.)

And if all works out...You have a PRIVATE company you control instead of an EXPOSED individual risking privacy loss. And in the case of TAXES, that Company (that you control) gets taxed on the Ticket, and you dont. leaving you to pay for your own taxes outside of THAT WIN, all the while still controling the comapny with the account full of MOOLAH!

Aaanyway, this is an oversimplified plan of attack, to control you winnings, your way. There is a lot more involved, I guess you know what that may or may not be....NOTICE I DID NOT SAY ANYTHING ABOUT TAX AVIODANCE, I do not intend to. The Winnings SHould only be taxed ONCE. (federal and state) before it goes under your control, after that if you(rather, the company you control) make any money using any part of that pile as investment...that should be taxed too (or deducted off company tax books if it is a loss)

The other aspect or advantege of having your PILE OF DOUGH in a company you SECRETLY with REPRESENTATION, control, is that  anybody snooping around your private affairs (your public credit record, for example, or your asset holdings) you appear to them as OWNING nothing....not even a new car. The idea here is that the company you SECRETLY CONTROL THROUGH PROPER REPRESENTATION, purchases, and owns (on paper) said property.  Then its a matter of paperwork having that said company allowing you to use said property for "business use"

And if you want money from your pile, another aspect you could get is to hire you (as an individual) as an outside contractor, or "butler" or "housesitter" or "gardener" or "interior decorator" or "chauffer" or "procurement agent" to buy your needed goods and services, or food or to drive yourself around, proivide entertainment material, etc.

that all depends on how involved you put the paperwork, and how much you can automate so that you do not get bogged down in the paperwork....

 

Aaaanyway these are my ideas, and i wanted to post them here, anything you could add here is greatly appreciated. I look forward to your comments.

Viceroy.

Sorry for the long post.

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    Coastal Georgia
    United States
    Member #2653
    October 30, 2003
    1866 Posts
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    Posted: May 1, 2007, 4:13 pm - IP Logged

    First of all, welcome to lottery post !

    To answer your dilemma, you need ony do some research on this site.

    This topic has been kicked around ad nauseum for the 3.5 years that I've been a member and  it will be kicked around again and again in the future.

    Bottom line is everyone is different, so they do things different ways.

    We have seen some run to the lottery office the instant they see that they won, while others plan very methodically with advisors( to help with that tax question you raise ) and it is literally months before they apppear with the ticket at Lottery HQ.

     

    Again , do a little research and I'm sure all your questions will be answered...

    DD

     

                                   

                  

     

     

      psykomo's avatar - animal shark.jpg

      United States
      Member #4877
      May 30, 2004
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      Posted: May 1, 2007, 4:17 pm - IP Logged

      WITH all that SAID>>>>>>>>>>>>>>>>>>&&&&&&&&&&&&&&YOU said-it &&&&&& ASK?????????

      for ADVICE.......(FROM).......LOTTERY POST members??????????????????????

      WE SUGGEST>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>

      YOU CLAIM the MONEY>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>

      ....PRONTO>>>>>

      then....................ask GEORGE BUSH out for a DATE and discuss POLITIC's with THE MONEY$$$$

        psykomo's avatar - animal shark.jpg

        United States
        Member #4877
        May 30, 2004
        5124 Posts
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        Posted: May 1, 2007, 4:30 pm - IP Logged

        WITH all that SAID>>>>>>>>>>>>>>>>>>&&&&&&&&&&&&&&YOU said-it &&&&&& ASK?????????

        for ADVICE.......(FROM).......LOTTERY POST members??????????????????????

        WE SUGGEST>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>

        YOU CLAIM the MONEY>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>

        ....PRONTO>>>>>

        then....................ask GEORGE BUSH out for a DATE and discuss POLITIC's with THE MONEY$$$$

        IFfffffffffffffffffffffffff............<<<<<<<<<<<<<<BUSH does not RESPOND??????

        CALL...........................................................BILL (say PSYKO )>>>>>

        sent ME.............................................(then)  HILL  (will RESPONDE....QP)

        & set uuuuuuuuuuuuuuuuuuuuuuuuPPPPPPPPPPPPPPPPPPPPPPPPP

        for a  "donation"$$$

        hurry-UP ^^^^^^^^&&&&&&&& give the HILL a DON'tnation!!!!!!!!  

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          New Member

          United States
          Member #28453
          December 16, 2005
          10 Posts
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          Posted: May 1, 2007, 4:31 pm - IP Logged

          I'm not saying I won.... I'm just saying what should be my plan of attack if I did.

          I live in a "NON anonymous" state. (meaning they want to plaster your name all over the place.)

          and I am a paranoid man about money....I want all my ducks in a row, you see...

          Now I know that contacting a lawyer, or at best a financial planner, is probably the best thing to do.

          BUT...what would happen if you have JUST the winning ticket and about 47 cents in the bank?

          Whadya do then?

            Avatar
            New Member

            United States
            Member #28453
            December 16, 2005
            10 Posts
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            Posted: May 1, 2007, 4:38 pm - IP Logged

            IFfffffffffffffffffffffffff............<<<<<<<<<<<<<<BUSH does not RESPOND??????

            CALL...........................................................BILL (say PSYKO )>>>>>

            sent ME.............................................(then)  HILL  (will RESPONDE....QP)

            & set uuuuuuuuuuuuuuuuuuuuuuuuPPPPPPPPPPPPPPPPPPPPPPPPP

            for a  "donation"$$$

            hurry-UP ^^^^^^^^&&&&&&&& give the HILL a DON'tnation!!!!!!!!  

            I wonder what i could get from Hillary if I give her a "donation"

            I doubt that it would be a bill in the mail demanding "child support" a year later....unless I donted to her the winning ticket....but then I don't even think it would go toward my carbon offset, and Al would be pissed...unless I siphoned some off to Tipper, and she could tell Al to Shaddap and pay that obscene utility bill and look the other way......while he's digitally killing off polar bears and penguins in his movie sequel. 

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              Coastal Georgia
              United States
              Member #2653
              October 30, 2003
              1866 Posts
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              Posted: May 1, 2007, 4:42 pm - IP Logged

              I'm not saying I won.... I'm just saying what should be my plan of attack if I did.

              I live in a "NON anonymous" state. (meaning they want to plaster your name all over the place.)

              and I am a paranoid man about money....I want all my ducks in a row, you see...

              Now I know that contacting a lawyer, or at best a financial planner, is probably the best thing to do.

              BUT...what would happen if you have JUST the winning ticket and about 47 cents in the bank?

              Whadya do then?

              Whadya do then ?

              Go to the top of this page under FORUMS.

              Select SEARCH, then type in whatever you feel: financial advice, taxes, accountants, lawyers, etc...

              and believe me Viceroy, you will have plenty of advice to pore over...

              That should keep you busy for a long while.

              Trust me, you will come back much more prepared when you do hit the big one !!!!

               

              DD

               

                                             

                            

               

               

                psykomo's avatar - animal shark.jpg

                United States
                Member #4877
                May 30, 2004
                5124 Posts
                Offline
                Posted: May 1, 2007, 4:55 pm - IP Logged

                WITH all that SAID>>>>>>>>>>>>>>>>>>&&&&&&&&&&&&&&YOU said-it &&&&&& ASK?????????

                for ADVICE.......(FROM).......LOTTERY POST members??????????????????????

                WE SUGGEST>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>

                YOU CLAIM the MONEY>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>

                ....PRONTO>>>>>

                then....................ask GEORGE BUSH out for a DATE and discuss POLITIC's with THE MONEY$$$$

                my point>>>>>>>>>>>>>>>>>>>>>>>BACKWARD$$$$$$$$$$$$

                WIN the>>>>>>>>>>>>>>>>>>>>>>>JACKPOT<<<<<<<<<<<<<

                don't ever take PSYKOMO "cerous"..........but, ........always a BUTTtttt

                some people Kan READ "between"..........THE,.........SHEET'ssssssssss

                READ-UNDERSTAND>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>

                DON't<<<<<<<<BE>>>>>>>>..........trick-PICKED by D NEWS!

                JUST'T.....>>>>>WIN the JACKPOT$$$$$$$$$$$$$$$$$$$$$$

                 

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                  California
                  United States
                  Member #46824
                  October 1, 2006
                  270 Posts
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                  Posted: May 1, 2007, 4:56 pm - IP Logged

                  Viceroy...regarding your plan to have a corporation claim the winning jackpot ticket, this is a situation that varies from state to state.  Each lottery has their own rules for claiming a jackpot.

                  As I live in California, those are the policies that are the most familiar to me.  Outlined below is the policy for California taken directly from the regulations of the California Lottery as posted on their web site.

                   Claimant Status
                  Prize winnings may be paid to natural persons or to business entities, including for profit or non-profit corporations and charitable organizations, subject to Lottery rules and regulations. The Director shall have the discretion to require a business entity prize claimant to provide the name of a natural person to whom the prize winnings may be paid.

                  So it appears that if they want, the lottery can require the name of a person in order to claim the jackpot.   In looking at winners from California for a good number of years, not one has been a corporation.  So in California, it appears that a person must be identified when claiming a jackpot.

                    psykomo's avatar - animal shark.jpg

                    United States
                    Member #4877
                    May 30, 2004
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                    Posted: May 1, 2007, 5:52 pm - IP Logged

                    ...................don't KNOW @@@@@@@@@this point<<<<<<<<<<<

                    it all sounds simple..................................................<<<<<<<<<<<

                    just ask.......Viceroy..................................................GREAT>>>>>>> 

                      Coin Toss's avatar - shape barbed.jpg
                      Zeta Reticuli Star System
                      United States
                      Member #30470
                      January 17, 2006
                      10353 Posts
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                      Posted: May 1, 2007, 6:55 pm - IP Logged

                      Viceroy;

                      "BUT...what would happen if you have JUST the winning ticket and about 47 cents in the bank?"

                       To take a page from the Army, "The combat situation dictates manuever possibilites, always."

                      Those who run the lotteries love it when players look for consistency in something that's designed not to have any.

                      Lep

                      There is one and only one 'proven' system, and that is to book the action. No matter the game, let the players pick their own losers.

                        LuckyLilly's avatar - savy chick.png

                        United States
                        Member #50124
                        February 26, 2007
                        601 Posts
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                        Posted: May 1, 2007, 8:15 pm - IP Logged

                        I'm not saying I won.... I'm just saying what should be my plan of attack if I did.

                        I live in a "NON anonymous" state. (meaning they want to plaster your name all over the place.)

                        and I am a paranoid man about money....I want all my ducks in a row, you see...

                        Now I know that contacting a lawyer, or at best a financial planner, is probably the best thing to do.

                        BUT...what would happen if you have JUST the winning ticket and about 47 cents in the bank?

                        Whadya do then?

                        If I only had 47 cents in the bank, I'd do whatever I was gonna do if I hadn't won the lottery.  I'd still take the necessary steps to remain anonymous, if that's even possible here.  It's so important to me, I'd prefer to be homeless and live in my car for a couple months till things can get squared away.  I'd sell everything I have on craigslist or somewhere to get money for an attorney.  It can all be replaced (with better stuff!) when that ticket is finally cashed.

                          jarasan's avatar - new patrick.gif
                          Harbinger
                          D.C./MD.
                          United States
                          Member #44103
                          July 30, 2006
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                          Posted: May 1, 2007, 8:28 pm - IP Logged

                          Good passwords more than 8 characters, combination of letters, numbers, and symbols that are not in your native language.  Also, change these passwords regularly, and keep them archived in a secure, safe location.  This advice cost $0, so you can continue to work with the 47 cents.

                            Guru101's avatar - rw6jhh
                            Indiana
                            United States
                            Member #48725
                            January 7, 2007
                            1954 Posts
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                            Posted: May 1, 2007, 9:36 pm - IP Logged

                            Even if you claim anonymously, you're family will still find out. They'll see the new house, new car, and all the new expensive stuff you're buying and they know that something like that doesn't happen within such a short period of time unless you've acuired a large sum of money, whether it be by the lottery, inheritance, etc. They don't care how you got the money, just that you got it. If you're going from middle class to upper class, you're family will find out.

                            Gonna win.Big Smile

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                              United States
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                              March 1, 2006
                              188 Posts
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                              Posted: May 1, 2007, 9:49 pm - IP Logged

                              I'm sure your family and friends, and second cousins,  already knows what a cheap and uncharitable person you are and won't even bother asking you for money.