How low a lottery win would you have to do an LLC?Prev TopicNext Topic

• dk1421

  

  North Carolina
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  Sep 26, 2010, 9:48 pm

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  What is the lowest amount you would win via lottery in order to consider doing an LLC or Blind Trust?

  $100,000? $1 million? $5million?

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

  

  lottoville
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  Sep 27, 2010, 10:06 am

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  In response to dk1421

  Quote: Originally posted by dk1421 on Sep 26, 2010

  What is the lowest amount you would win via lottery in order to consider doing an LLC or Blind Trust?

  $100,000? $1 million? $5million?

  at least a million dollars after taxes. any amount less than that is not worth the effort and the lawyer's fees for me
• tiggs95

  

  United States
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  Sep 27, 2010, 10:21 am

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  tiggs dosent need a LLC or a trust..He's going to wear a sign around his neck with the letters ..NO..
• dk1421

  

  North Carolina
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  Sep 27, 2010, 7:59 pm

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  That was my thing too, Owl. I figured $250,000 might be too low to do an LLC or BT because of the fees, but then I thought, well, I don't want to be known to have even that amount of money too. I guess if I had some knowledge of how much the fees would be...

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

  

  GA
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  September 25, 2010
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  Sep 27, 2010, 8:52 pm

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  10 million
• OwlCreekBridge

  

  lottoville
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  Sep 28, 2010, 12:55 am

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  In response to dk1421

  Quote: Originally posted by dk1421 on Sep 27, 2010

  That was my thing too, Owl. I figured $250,000 might be too low to do an LLC or BT because of the fees, but then I thought, well, I don't want to be known to have even that amount of money too. I guess if I had some knowledge of how much the fees would be...

  Chances are if you win a jackpot less than a million, the news media will not take interest in you. I've looked in the winners gallery in the mega millions website and they mainly focus on the big jackpot winners. If I won $250,000 I wouldn't want to spend any money on lawyers fees. If anyone ever managed to find out about my winnings and ask me for money, I'd probably make up some story like I lost it all on a wild weekend in Las Vegas. I know that's a fib but they shouldn't have put me in that position in the first place since i won the money fair and square and I didn't beg anyone for the money. If they want to have a chance at winning they could buy a ticket the same way I did.
• ttech10

  

  Texas
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  Sep 28, 2010, 4:34 pm

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  Below $15 million, I'm walking into the lottery offices by myself.

  Above $20 million I'm accepting through a blind trust.

   

  That's my current plan, at least. Who's to say my plans won't change once I look down and see all my numbers match. At this point it's all IF but I'm sure if the luck did come it's way all that would go out of the window and I've have to start re-thinking everything. As of now though with it being under $15 million takeaway I would walk into the offices on Thursday or Friday to accept.
• fastscratcher10

  

  CB, Virginia
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  January 31, 2010
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  Sep 28, 2010, 5:42 pm

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  Anything under a TRILLION I'm claiming myself.