How would you break up your winnings?

Reply #7

Thomas Covenant — Wed, 24 Mar 2004 23:52:52 GMT

I would move to a country that doesn't have an estate (death) tax and then expatriate. That would still take some planning because the US can still tax you up to 10 years.

Reply #6

JackpotWanna — Wed, 24 Mar 2004 23:04:34 GMT

Nope....11,0000 is enough and maybe a dinner party. :-P

Reply #5

megamillionaire — Wed, 24 Mar 2004 22:48:18 GMT

Depending on your age, if you want to give your immediate family more, make the ticket a family ticket. By that I mean let those you want to give more to chip in for the ticket and collect their share directly from the lottery sans taxes. Then put your share in T-bills and tax free Muni's.

Reply #4

prob987 — Wed, 24 Mar 2004 20:56:42 GMT

I would put lots of money in overseas investments, because hyperinflation always follows huge balance of payments deficits accompanied by redistribution of wealth and government deficits. People think that the United States cannot face the same consequences as did many South American nations but they are basically wrong.I would buy stocks in foreign currencies, some US stocks, and quite a bit of (uninflatable) property.If we ever have a sane government again, I would of course, bring my money h... [ More ]

Reply #3

mayan27 — Wed, 24 Mar 2004 20:27:59 GMT

JACKPOTWANNA,i wish you could talk personally to my family and give me more ideas on sharing my winnings with family members because everyone of them feels they are entitle to million dollars whenever i win the jackpot.For instance.i said one day when i win the lottery,i will at least paid off everyone debts and give at least everyone 10,000 to start up with and you believe what a commotion it was for making such a comment.I mean everone went off on me like the family black sheep.I was like what... [ More ]

Reply #2

JackpotWanna — Wed, 24 Mar 2004 17:49:21 GMT

I see. maximum gift legally allowed by the irs which is 11,000 dollar per person

Reply #1

weshar75 — Wed, 24 Mar 2004 17:46:33 GMT

I would spend the maximum gift legally allowed by the irs which is 11,000 dollars to my family/friends and the rest I would live it up. New trucks and higher lines of credit.

How would you break up your winnings?

JackpotWanna — Wed, 24 Mar 2004 16:55:48 GMT

Buying nice real estate buildings for additional cash flow. 30%Helping people. 20%In Saving and Checking accounts. 15%Start a small business 10%Family and friends. 10%Stocks. 10%High Yield Bonds. 5