Who are you going to tell after you win the monday's powerball jackpot.Prev Topic Next Topic

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sully16

25

Ringleader

Michigan
United States
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October 28, 2009
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Dec 23, 2025, 11:33 am

Quote: Originally posted by OhSoClose on Dec 23, 2025

I may have mentioned to Dovey that I have a ticket. She says she's already packed and ready to head someplace warm.

awwwwwwwwwwwww what a cutie pie.
OhSoClose

Tyrone, PA
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May 15, 2019
305 Posts
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Dec 23, 2025, 11:40 am

Quote: Originally posted by sully16 on Dec 23, 2025
awwwwwwwwwwwww what a cutie pie.

Thank you! Dovey's brother, Eddie, would be mad at me if I posted a pic of her and not him. That's him on the left, the two of them on a less snowy day. My wife says when/if we ever hit it big, we're hiring a dedicated dog massager. They love butt rubs and broccoli!
sully16

25

Ringleader

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Dec 23, 2025, 11:44 am

Quote: Originally posted by OhSoClose on Dec 23, 2025
Thank you! Dovey's brother, Eddie, would be mad at me if I posted a pic of her and not him. That's him on the left, the two of them on a less snowy day. My wife says when/if we ever hit it big, we're hiring a dedicated dog massager. They love butt rubs and broccoli!

I got a Bernese and he loves treats, shoes, socks and thinks he's a lapdog.

Your pups are beautiful.
OhSoClose

Tyrone, PA
United States
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May 15, 2019
305 Posts
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Dec 23, 2025, 12:31 pm

Quote: Originally posted by sully16 on Dec 23, 2025
I got a Bernese and he loves treats, shoes, socks and thinks he's a lapdog.

Your pups are beautiful.

Thanks again, they're 8 years old but still act like 6 month olds. If you have a pic of your fur baby, please share.
sully16

25

Ringleader

Michigan
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October 28, 2009
160,587 Posts
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Dec 23, 2025, 1:03 pm

Quote: Originally posted by OhSoClose on Dec 23, 2025
Thanks again, they're 8 years old but still act like 6 month olds. If you have a pic of your fur baby, please share.

I am not tech savvy.
GiveFive

Florida's West Coast
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June 10, 2010
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Dec 23, 2025, 8:19 pm
Quote: Originally posted by Artist77 on Dec 22, 2025
The majority of fortune 500 companies incorporate in Delaware because it is so pro business.
1. You do not really want a blind trust. That is usually where you turn over all your assets to be managed by someone else and you have no knowledge in how it is invested. It is often used by a President or other high ranking officials to prevent a conflict of interest or the appearance of one. A blind trust would make it very easy to have your money stolen like the infamous lottery attorney Jason.. People sometimes seem to think a blind trust is used to claim lottery winnings but the word blind is referring to lack of knowledge in how the funds are managed.
You want a simple revocable trust to have someone claim.the money on your behalf if your state allows it. Once the money is claimed and deposited, it is yours to control and you can make the decision for the next steps.

An irrevocable trust is not really a true blind trust and I would never use one unless you are incapacitated. So an irrevocable trust cannot be changed and in a blind trust, someone completely controls your assets.
Thanks Artist for the very good to know information.

I'm not sure why the estate planning lawyer near me recommended a blind trust on his website. I went back to his site and reread the two articles he put out there. Wouldn't you know it! I caught a mistake!! On one page he advises "Sign the ticket. Seriously, now."

The other page said "DO NOT SIGN YOUR TICKET (Yet!) An unsigned ticket is a “bearer instrument” (whoever holds it, owns it). A ticket signed with your personal name can create legal headaches when trying to assign it to a trust."

I dunno if I'd use them after reading those two pages. His website says there are estate tax advantages using a blind trust, but I want to be the decsion maker with regard to what I want done with my money! G5

Play Smart! That's IF there is such a thing as playing smartly!!
GiveFive

Florida's West Coast
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June 10, 2010
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Dec 24, 2025, 8:25 am

Quote: Originally posted by GiveFive on Dec 22, 2025
Jade,

I wish I could remember where I read that it's possible for an LLC to release a big lottery winners name etc, but I can't. And I know next to nothing about state laws as they relate to LLC's in your neck of the woods.

I've also read that The State of Delaware is the place where a big lottery winner can request an LLC because Delaware has laws that say they can never ever release the name of the owner of an LLC. (Or something to that effect anyway)

In Florida it seems that the estate planning lawyers are in agreement that an irrevocable trust (a "Blind Trust") is the way to fly. Little to no mention on their websites of LLC's. But I live in Florida and you don't, so what do I know??

I've been dreamin' about a name for a blind trust. I wanna come up with something catchy and original. Something others can read and get a kick out of. One name I've been toying with is the I. Seymour Cash Trust. The I stands for "Iwanna". G5

I found where I read about forming an LLC in another state such as Delaware, New Mexico or Wyoming vs. Florida. (I live in Florida and Florida law allows me to form an LLC in any state)

If you live in Florida this info may be of some value to you. Here's a cut and paste of what I found -

Anonymous LLCs

There are good reasons to form an anonymous LLC. This is largely because nothing good can come from posting your assets and personal information online. If you simply form a single LLC in Florida, then you are required to list the owners name which can then easily be searched by creditors, people who want to do you harm, or those who are just curious about where you live and what you own.

The work around is to form an anonymous LLC in New Mexico or Wyoming. You may then either operate using this LLC, or use it as the owner of record for the Florida company. Then, your name does not appear anywhere, and if the Florida company is searched on Sunbiz only the anonymous LLC's information is listed. Any person searching for your Florida company will see the name of a separate LLC that you have formed anonymously in a different state.

Delaware gets high marks for privacy too. Your name can never be revealed in Delaware, known for being a very business friendly state. G5

Play Smart! That's IF there is such a thing as playing smartly!!
Artist77

United States
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January 16, 2012
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Dec 24, 2025, 9:52 am

Quote: Originally posted by GiveFive on Dec 23, 2025
Thanks Artist for the very good to know information.

I'm not sure why the estate planning lawyer near me recommended a blind trust on his website. I went back to his site and reread the two articles he put out there. Wouldn't you know it! I caught a mistake!! On one page he advises "Sign the ticket. Seriously, now."

The other page said "DO NOT SIGN YOUR TICKET (Yet!) An unsigned ticket is a “bearer instrument” (whoever holds it, owns it). A ticket signed with your personal name can create legal headaches when trying to assign it to a trust."

I dunno if I'd use them after reading those two pages. His website says there are estate tax advantages using a blind trust, but I want to be the decsion maker with regard to what I want done with my money! G5

I would definitely choose another attorney. This is first year law school info he should know. Of course he recommends a blind trust...so he can control your investments and you have no input. I know some winners may want this but it is potentially dangerous with very unsophisticated winners. It is time consuming and court approval can sometimes be needed to undue both blind trusts and irrevocable trusts.

Your first goal is to allow your attorney to claim the money on your behalf with a revocable trust and deposit it in your x account. His/her authority ends after that point. Then deal with getting a financial advisor and a tax attorney.

I personally would have the money deposited in a brokerage account with the trust name. Then since the name of the trust may be released to the public, I would pour the assets into a newly named trust to blur the ownership lines.

DO NOT BE AFRAID.

How Great Thou Art. God has blessed America.
JustMaybe

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January 2, 2023
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Dec 24, 2025, 10:59 pm

Quote: Originally posted by Artist77 on Dec 24, 2025
I would definitely choose another attorney. This is first year law school info he should know. Of course he recommends a blind trust...so he can control your investments and you have no input. I know some winners may want this but it is potentially dangerous with very unsophisticated winners. It is time consuming and court approval can sometimes be needed to undue both blind trusts and irrevocable trusts.

Your first goal is to allow your attorney to claim the money on your behalf with a revocable trust and deposit it in your x account. His/her authority ends after that point. Then deal with getting a financial advisor and a tax attorney.

I personally would have the money deposited in a brokerage account with the trust name. Then since the name of the trust may be released to the public, I would pour the assets into a newly named trust to blur the ownership lines.

Sometimes I struggle with the idea of giving the Trust managers 1% of the AUM.

With the current jackpot 1% of the lump sum annually is a steep amount.

Then add the 0.5% to 2% annually to the Financial Advisors.

Everyone is in the business of milking the winner 😭😭

I believe winning the lottery jackpot is a 💯 % factor of luck.

May Fortuna, goddess of chance or lot vindicate me.
Artist77

United States
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January 16, 2012
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Dec 25, 2025, 4:20 pm

Quote: Originally posted by JustMaybe on Dec 24, 2025
Sometimes I struggle with the idea of giving the Trust managers 1% of the AUM.

With the current jackpot 1% of the lump sum annually is a steep amount.

Then add the 0.5% to 2% annually to the Financial Advisors.

Everyone is in the business of milking the winner 😭😭

Fees are always negotiable. The brokerage house is not about to lose a $300 million account. You can do a self managed account and just pay for trades. I would just do a yearly review once you made diversified investments and if need be, run it by an outside independent advisor for a flat fee. So many of those managed accounts are just run through in house financial software. I would keep 50% in cash assets. You would probably get some free services with that large an account anyway.

You are in control of that trust if you use a living revocable trust...you are the trustee.

DO NOT BE AFRAID.

How Great Thou Art. God has blessed America.