Free Republic
Browse · Search
News/Activism
Topics · Post Article

To: Durus
See my 37. People have been creating LLCs and Trusts to collect winnings for years. Look up past winners of megabucks or powerball, and you will see that a good portion of them do not have anything other than the name of the trust/LLC and if there is a picture it’s of the lawyer/agent collecting the symbolic check.

That would be what Hubby and I would do. But, most people don't understand delayed gratification and are in such a rush to collect, they run right out to claim their winnings without thinking of the consequences or putting any long-term plans in place. First thing we would do is stick the ticket in the safety deposit box, then start setting up a professional advising team. Wouldn't even tell the kids it had happened. I'd still be going to work every day.

93 posted on 08/01/2014 8:49:57 AM PDT by Hoffer Rand (Bear His image. Bring His message. Be the Church.)
[ Post Reply | Private Reply | To 44 | View Replies ]


To: Hoffer Rand
Same here. Keep up a normal routine and tell no one until the investors/lawyers/investors/security are all determined and the money is in the bank/invested and even then only tell those that absolutely need to know. A lot of people have no idea the target one becomes when wealthy.

94 posted on 08/01/2014 9:13:51 AM PDT by Durus (You can avoid reality, but you cannot avoid the consequences of avoiding reality. Ayn Rand)
[ Post Reply | Private Reply | To 93 | View Replies ]

Free Republic
Browse · Search
News/Activism
Topics · Post Article


FreeRepublic, LLC, PO BOX 9771, FRESNO, CA 93794
FreeRepublic.com is powered by software copyright 2000-2008 John Robinson