Important Topic: Claim Prize in Trust??

Reply #9

rundown99 — Wed, 23 Apr 2003 17:03:56 GMT

I gotta play the Hot Lotto sometime, but I will wait until it grows. But for the moment, it's Powerball TIME

Reply #8

Thomas Covenant — Wed, 23 Apr 2003 09:24:03 GMT

Cost for setting up a trust ranges from $49 for a do-it-yourself package to several thousand bucks. There are two main types of trusts. Irrevocable Trusts and Revocable Living Trust. The living trust would probably be best because you retain control and it can be changed. The reason more people don't set one up is because they want the fame when they win the lottery.

Reply #7

CASH Only — Mon, 21 Apr 2003 12:32:40 GMT

Secret:Let's hope PB keeps growing so Iowa gets people in their stores to also play Hot Lotto despite the Minnesota winner ($2.2m) last week.

Reply #6

rundown99 — Mon, 21 Apr 2003 11:23:46 GMT

Powerball is 51 MILLION

Reply #5

rundown99 — Wed, 16 Apr 2003 15:51:43 GMT

More questions: How much would it cost to set up a trust? and Why is it so rare for people to set up trusts

Reply #4

rundown99 — Wed, 16 Apr 2003 15:49:06 GMT

Shakey DeeWhat do you mean by What Money???? Are you saying that a dishonest lawyer could keep the money for himself/herself and pretend that no trust had been formed? Could such an instance occur

Reply #3

visiondude — Mon, 14 Apr 2003 20:49:42 GMT

i already had decided that if i win i would claim it anonymousy (as possible thru a trust).what solidified it for me is when i read a story about a guy that won and that it took like 5 years for all the ramifications people wise to die down.obviously the less people that know, the better/smoother the ride.VDQPLS

Reply #2

RJOh — Mon, 14 Apr 2003 15:37:56 GMT

I've have not seen a Powerball or Megamillions winner on the T.V. talkshows since Mr. Whittaker of Virgina won. Does that mean there have been no winners or that nobody cares if the winners get less than $100M? If the winner is wealthy, his friends won't change and if he is poor, he will be moving and getting a new set of friends, so it won't matter either way. Bill Gates has billions and almost everybody knows his name. If a person can't handle winning than he shouldn't play.RJOh... [ More ]

Reply #1

CASH Only — Mon, 14 Apr 2003 14:39:06 GMT

Secret: If I were to ever win, it probably would be in Connecticut (rather than in NY.) I _would_ want to be as anonymous as possible.

Important Topic: Claim Prize in Trust??

rundown99 — Mon, 14 Apr 2003 14:09:55 GMT

Ever since the Powerball opened in 1992, other than anonymous prize claims allowed by Delaware and a couple other states, there has only been one instance in which the prize has been claimed in trust. If you ever won it, would you consider this option? I read a lot of horror stories of people winning the jackpot and becoming miserable due to financial loss and social and psychological isolation from friends. I felt that this is an important topic, because whether you claim the prize in trust