If you won Saturday's Powerball jackpot

Reply #9

rundown99 — Sat, 18 Oct 2003 10:48:05 GMT

Quote: O

Reply #8

fja — Sat, 18 Oct 2003 10:00:13 GMT

Its hard to say what I would do. I've never experienced the big win, and as much as I plan to stay as low key as possible, my reaction might be totaly different to what I plan. However a Trust is probably the best way to go.

Reply #7

hypersoniq — Fri, 17 Oct 2003 14:04:05 GMT

My preferred trurt type would be the intra-vivos personal property trust

Reply #6

rundown99 — Fri, 17 Oct 2003 12:54:34 GMT

The last time a Powerball grand prize was claimed was in New Hampshire about a month ago. A father and daughter from New Hampshire and a family in Massachusettts claimed the prize. The father and daughter from N.H. went public, but the family from Massachusetts claimed its share in trust (they sent their lawyer to claim the share on their behalf). The trust can ensure anonymity, but there are different types of trust. Of course, setting up the trust is the ONLY solution to remain anonymous

Reply #5

hypersoniq — Sat, 11 Oct 2003 22:48:09 GMT

Once your name/hometown is associated with a huge jackpot, all the money in the world isn't going to buy back your peace and quiet afforded by anonymity.Fifth cousins (thrice removed) will be less likely to hit you up for startup capital for their great new business opportuniy... if you skip the trust and then someone catches you in a frivelous lawsuit (also now more likely, may as well buy shirts with target symbols on them), now they KNOW about all the marbles and will settle for a small for... [ More ]

Reply #4

mken35 — Sat, 11 Oct 2003 22:16:36 GMT

Reply #3

golotto — Sat, 11 Oct 2003 16:16:11 GMT

i don't think i'd form a trust but i would remain as low-key as possible. i couldn't achieve total anonymity using this approach - but i'd get an unpublished phone number and tell as few people as possible - before and after claiming the prize. i'd definitely want to drive to the lotto office and validate the ticket on my own - just for the experience.

Reply #2

rundown99 — Sat, 11 Oct 2003 15:02:38 GMT

I read this book by Rob Sanford entitled Infinite Financial Freedom whereas if you are not self-employed, take a leave of absence from your job and expect not to return. You don't have to worry about quitting your pre-jackpot job, the job will quit you.

Reply #1

hypersoniq — Fri, 10 Oct 2003 22:12:24 GMT

Trust, definitely.I would however NOT return to work (once I had ACCESS to the cash), in hopes that someone who NEEDS the job could have it.

If you won Saturday's Powerball jackpot

rundown99 — Fri, 10 Oct 2003 12:08:09 GMT

The Powerball winner of the December 11, 1999 drawing had formed a trust to claim the prize. As it turned out, the winner had not quit his or her job and did not want any publicity. The winner of the February 22, 2003 drawing had sent a lawyer to claim the lump sum grand prize on behalf of a client named Cello Investments, LLC. It would take a while to form a trust, but it has happened before, so it could be done again. Would you form a trust? Why or why not