Welcome Guest
Log In | Register )
You last visited January 23, 2017, 9:53 pm
All times shown are
Eastern Time (GMT-5:00)

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

Topic closed. 7 replies. Last post 6 years ago by fastscratcher10.

Page 1 of 1
PrintE-mailLink
dk1421's avatar - Lottery-024.jpg
North Carolina
United States
Member #64582
September 1, 2008
347 Posts
Offline
Posted: September 26, 2010, 9:48 pm - IP Logged

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's avatar - Lottery-031.jpg
    lottoville
    United States
    Member #95474
    August 11, 2010
    132 Posts
    Offline
    Posted: September 27, 2010, 10:06 am - IP Logged

    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's avatar - Lottery-036.jpg

      United States
      Member #47420
      November 4, 2006
      3930 Posts
      Offline
      Posted: September 27, 2010, 10:21 am - IP Logged

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

        dk1421's avatar - Lottery-024.jpg
        North Carolina
        United States
        Member #64582
        September 1, 2008
        347 Posts
        Offline
        Posted: September 27, 2010, 7:59 pm - IP Logged

        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's avatar - box
          GA
          United States
          Member #97845
          September 25, 2010
          40 Posts
          Offline
          Posted: September 27, 2010, 8:52 pm - IP Logged

          10 million

            OwlCreekBridge's avatar - Lottery-031.jpg
            lottoville
            United States
            Member #95474
            August 11, 2010
            132 Posts
            Offline
            Posted: September 28, 2010, 12:55 am - IP Logged

            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's avatar - blobdude
              Texas
              United States
              Member #92330
              June 5, 2010
              887 Posts
              Offline
              Posted: September 28, 2010, 4:34 pm - IP Logged

              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.

                Avatar
                CB, Virginia
                United States
                Member #86202
                January 31, 2010
                37 Posts
                Offline
                Posted: September 28, 2010, 5:42 pm - IP Logged

                Anything under a TRILLION I'm claiming myself. Smile