Attorneys and financial advisers...Prev TopicNext Topic

• LiveInGreenBay

  

  Green Bay
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  Feb 10, 2016, 5:25 pm

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  I wouldn't hire professionals for anything under ten million.  After fed and state taxes taken right off the bat, that would leave me with about six million plus change.  If I couldn't handle that....I don't deserve to win.

  Never give up. 
• music*

  

  Fresno, California
  United States
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  Feb 10, 2016, 5:39 pm

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   I will ask a Trust & Estate Attorney to draw up a Living Revocable Trust for me. Then I will ask for referrals. A Certified Financial Planner to plan my future investments. Possibly a publicist like Brad Duke used. Then either a psychologist, psychiatrist or therapist. Plus more help.

  

   "We are all in this together!" 
• Coin Toss

  

  Zeta Reticuli Star System
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  Feb 10, 2016, 6:01 pm

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  Golly LiveInGreenBay, isn't this thread a contradiction to the OP and your others posts in this thread:

  Why do jackpot winners feel the need for an attorney or financial adviser?

  Those who run the lotteries love it when players look for consistency in something that's designed not to have any. So many systems, so many theories, so few jackpot winners. 

  

  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.
• rcbbuckeye

  

  100

  Texas
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  Feb 10, 2016, 6:22 pm

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  In response to Coin Toss

  Quote: Originally posted by Coin Toss on Feb 10, 2016

  Golly LiveInGreenBay, isn't this thread a contradiction to the OP and your others posts in this thread:

  Why do jackpot winners feel the need for an attorney or financial adviser?

  Took the words right out of my mind. LOL.

  CAN'T WIN IF YOU'RE NOT IN

  A DOLLAR AND A DREAM (OR $2)
  
• Romancandle

  

  Upacreek
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  Feb 10, 2016, 7:53 pm

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  In response to rcbbuckeye

  Quote: Originally posted by rcbbuckeye on Feb 10, 2016

  Took the words right out of my mind. LOL.

  

  -RC
• sully16

  

  25

  Ringleader

  Michigan
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  Feb 10, 2016, 8:03 pm

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  These threads are boggling my mind, You should look for sound advise as soon as you start working.

  Number one, for every dollar you make  you put 10 cents away in savings.

  Number two, you don't live beyond your means.

  Number three, learn about investing.

  Number four, don't be satisfied with one source of income. Make your money work for you.

   
• LiveInGreenBay

  

  Green Bay
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  Feb 11, 2016, 4:25 am

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  In response to Coin Toss

  Quote: Originally posted by Coin Toss on Feb 10, 2016

  Golly LiveInGreenBay, isn't this thread a contradiction to the OP and your others posts in this thread:

  Why do jackpot winners feel the need for an attorney or financial adviser?

  I changed my mind.  LOL!

  Never give up. 
• savagegoose

  

  adelaide sa
  Australia
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  Feb 11, 2016, 10:37 am

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  i put $500k , here that could pay $15k a year. while enough, I would still like to turn that into $30k a year. I dont think i can do that with my own knowledge on investing and tax minimizing. With $100k, i could take $3k a year. i dont think i would even need tax advice at all.

  " Still swinging, still missing "
  2014 = -1016; 2015= -1409; 2016  = -1171; 2017 = -1257 ; 2018 = - 1380 =  TOT =  - 6233

  keno historic = -2291 ; 2015= -603; 2016= -424; 2017 =-427; 2018= -223   TOT = -3968

  :
• music*

  

  Fresno, California
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  Feb 17, 2016, 11:44 am

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   I will also buy insurance to cover the Estate taxes that my heirs will pay to the IRS.

   Plus a tax professional. Tax Attorney. CPA. Accountant. 

   

  

   "We are all in this together!" 
• TheMeatman2005

  

  Brooklyn, NY
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  Feb 17, 2016, 6:16 pm

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  In response to LiveInGreenBay

  Quote: Originally posted by LiveInGreenBay on Feb 10, 2016

  I wouldn't hire professionals for anything under ten million.  After fed and state taxes taken right off the bat, that would leave me with about six million plus change.  If I couldn't handle that....I don't deserve to win.

  I think we all have a basic idea what to do first if we win...pay off all outstanding debt. Then, depending on what's left, would determine the need for legal and / or financial advice.

  The Meatman 🥩🍗🍔🍖🍤🌭

  “The quickest way to double your money is to fold it in half and put it in your back pocket.” Will Rogers

  Winning happens in a flash, Like A Bolt Of Lightning! 
• KY Floyd

  

  NY
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  Feb 17, 2016, 10:17 pm

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  In response to music*

  Quote: Originally posted by music* on Feb 17, 2016

   I will also buy insurance to cover the Estate taxes that my heirs will pay to the IRS.

   Plus a tax professional. Tax Attorney. CPA. Accountant. 

   

  

  Great idea. Let's suppose that the estate taxes are $2 million dollars. What do you suppose it would cost for an insurance policy that will pay the $2 million in taxes?
• TheGameGrl

  

  A long and winding road
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  Feb 18, 2016, 7:54 pm

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  Some estate planning is necessary for folks no matter whether they won thru a lottery or have varying assets that will weave thru probate. Best to seek an estate planner for such determinations and options. ira's, bonds, and real estate can stall settlements.

  I just have to win enough to even afford a lawyer!

  Count your smiles.
• music*

  

  Fresno, California
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  Feb 29, 2016, 9:18 am

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  In response to KY Floyd

  Quote: Originally posted by KY Floyd on Feb 17, 2016

  Great idea. Let's suppose that the estate taxes are $2 million dollars. What do you suppose it would cost for an insurance policy that will pay the $2 million in taxes?

   DY Floyd, I am not an insurance agent but a phone call to yours when you need it will be your answer.

   I will only buy Term Life Insurance. 

  

   "We are all in this together!" 
• TheMeatman2005

  

  Brooklyn, NY
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  Feb 29, 2016, 10:00 am

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  If I'm not mistaken, term life insurance can only be purchased up to a certain age and after that you are un-insurable.

  The Meatman 🥩🍗🍔🍖🍤🌭

  “The quickest way to double your money is to fold it in half and put it in your back pocket.” Will Rogers

  Winning happens in a flash, Like A Bolt Of Lightning! 
• RedStang

  

  NY
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  Feb 29, 2016, 5:23 pm

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  Don't forget a Tax Professional. They can save you a ton of money. Who would think you can write off a swimming pool and supplies for certain medical conditions.