So if the jackpot prize is small...

Reply #3

DC81 — Wed, 06 May 2009 09:59:51 GMT

As I've said in many topics before, the biggest factor at least IMO in forming an LLC or Trust is keeping your name out of the press release, it doesn't matter how big the jackpot is or how much media will pay attention, once the press release is out there it will be picked up and it'll pretty much be floating around the internet forever. There's also tax and other advantages with doing either. With that said however, I don't know if I'd go through all the hoops to bother with setting one up for... [ More ]

Reply #2

ambelamba — Wed, 06 May 2009 05:24:41 GMT

Well, it's fun to imagine the winning situation, isn't it? For me, it is...sort of.

I know that I need a good CPA and a lawyer to handle taxes. But I am not sure about investing. For a relatively small amout I kinda know where to put the money. But I am not opening my own business no matter what.

People say the housing market will hit the bottom in 2011. So people would argue that it's not a good idea to buy houses right now. I dunno. I don't wanna touch the principal and want passive in... [ More ]

Reply #1

SpanaUnlimited — Wed, 06 May 2009 04:27:41 GMT

If you only have a small jackpot.....you may be smart in avoiding the press conference. Small jackpots are rarely front-page news or top stories. Keep in mind though your name is public domain. So if a curious person wants to find you....eventually they could.

There are some who like to get the press conference over with though...especially for large jackpots. With a small presser..... that way reporters/media won't bug you later for interviews. Be smart and schedule it on a slow Friday after... [ More ]

So if the jackpot prize is small...

ambelamba — Wed, 06 May 2009 02:47:26 GMT

Do you think it it's OK to go to the lottery office and claim the prize myself? I know that media doesn't give that much attention to small jackpot amounts. Say I won $17,000,000 and receive $6,000,000 cash value. I think the press conference is an OPTION so I can ask them not to do one and ask for no camera, right?

You know, I don't think setting up an LLC for a FEW millions is a bit of an overkill. And I almost always use my English alias. (and I almost never use my real given name) Settin... [ More ]