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Started By
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re: Michigan factory supervisor wins $310.5M Powerball jackpot
Posted on 10/6/15 at 2:17 pm to Bunk Moreland
Posted on 10/6/15 at 2:17 pm to Bunk Moreland
quote:
You would love the western and northern parts of the state.
0
Posted on 10/6/15 at 2:27 pm to Rouge
quote:
The Williams Trust took home $16.7 million (before taxes) in 2013.
Last single LA winner was the H&N Family Partnership taking home $85.7 million (before taxes) in 2010.
That's how you do it - set up a partnership after you win but predate the documents before the buying of the ticket, set up ownership in said partnership on how you want to divide the money, and only pay taxes once instead of claiming it and gifting which would require the recipient to pay taxes
Posted on 10/6/15 at 2:35 pm to RedRifle
When one wins this kind of money are you supposed to give out to all of your extended family too? I know most will of course completely take care of their immediate family but what about all those uncles and cousins? Is it enough to just pay all their debt off and call it a day?
Posted on 10/6/15 at 2:36 pm to AubieALUMdvm
quote:heck no
are you supposed to give out to all of your extended family too?
quote:heck no
but what about all those uncles and cousins?
quote:heck no
Is it enough to just pay all their debt off and call it a day?
Posted on 10/6/15 at 2:36 pm to AubieALUMdvm
I'm not paying anyone if I win
but I don't play so that would be hard to do
but I don't play so that would be hard to do
Posted on 10/6/15 at 2:38 pm to Rouge
Wow, not even help them with debt?
Surely you would take care of all immediate family? (assuming you're on at least somewhat decent terms with them)
Surely you would take care of all immediate family? (assuming you're on at least somewhat decent terms with them)
Posted on 10/6/15 at 2:41 pm to RedRifle
No way would I put my name out there like that winning that much money..
Posted on 10/6/15 at 2:46 pm to Hangover Haven
quote:
No way would I put my name out there like that winning that much money..
Yea no shite. You are required to put A name out there but not YOUR name and I would not have my picture taken.
Posted on 10/6/15 at 2:52 pm to RedRifle
Good for her 
This quote from the story could be lawyerly
"Leach played in a lottery pool with her co-workers. But she stopped to buy $20 worth of extra tickets at the Three Rivers West Shell gas station on the way to work Wednesday night."
This quote from the story could be lawyerly "Leach played in a lottery pool with her co-workers. But she stopped to buy $20 worth of extra tickets at the Three Rivers West Shell gas station on the way to work Wednesday night."
Posted on 10/6/15 at 2:53 pm to toosleaux
quote:I've been to the U.P. several times and it is pretty nice. I wouldn't mind living there for parts of the year. That lake effect snow sucks arse though.
My wife is from the northern part of the state, and it's the greatest place on earth.
Posted on 10/6/15 at 2:56 pm to AubieALUMdvm
quote:
When one wins this kind of money are you supposed to give out to all of your extended family too? I know most will of course completely take care of their immediate family but what about all those uncles and cousins? Is it enough to just pay all their debt off and call it a day?
I'd buy a house for all the kids, maybe pay off any debt they have but that's about it.
I'd definitely disappear for the most part and if I work things out just right, would die with about a dollar left to my name.
Posted on 10/6/15 at 2:57 pm to PetreauxCat
All you have to do is hire a lawyer to make the claim and do all the public stuff for you. I think it's been done before.
Posted on 10/6/15 at 3:01 pm to stout
quote:Something like that.
Pretty sure that you have to come out with Powerball. It's part of the paperwork you sign when you claim the prize.
From what I understand, it's public record, and the winner, especially a jackpot like this, would be inundated and bothered by the media to speak, so it's much better for them to come out one time and get it over with, even if they wouldn't want to.
If I won, that would be the last thing I'd want to do, the press conference. But I'm guessing it would be in my best interest to get it done and out of the way.
Posted on 10/6/15 at 3:02 pm to Fight4LSU
quote:
All you have to do is hire a lawyer to make the claim and do all the public stuff for you. I think it's been done before.
It depends on the state. Louisiana allows a trust or partnership to accept the winnings. So you can be hidden.
Posted on 10/6/15 at 3:11 pm to AubieALUMdvm
quote:
When one wins this kind of money are you supposed to give out to all of your extended family too? I know most will of course completely take care of their immediate family but what about all those uncles and cousins? Is it enough to just pay all their debt off and call it a day?
my coworker and i drive all over texas and were talking about it last week when we saw it at $310... interestingly when we were coming back into town we saw it drop back down to $10 and were cussing.
i liked his take. he said that for his immediate family they each get one thing. New House, new cadillac, trip they always wanted, boat, whatever. But that's it. one thing and never ask him for money again.
For his extended family he said i'll take aunts, uncles, and cousins out on a family vacation and make sure that they know that they never ask for money at any point.
seems if make them take that and know they can't ask ever again, you'd leave it alone.
Posted on 10/6/15 at 3:18 pm to RedRifle
That's my dream, I want to call in to work rich.
"Sorry Boss, I woke up this morning and just had way too much money."
"Sorry Boss, I woke up this morning and just had way too much money."
Posted on 10/6/15 at 3:22 pm to AubieALUMdvm
quote:
Surely you would take care of all immediate family? (assuming you're on at least somewhat decent terms with them)
My immediate family is my wife and kids, they would be taken care of.
I don't think my parents/siblings would expect anything just like I wouldn't if they won.
Posted on 10/6/15 at 3:23 pm to Golfer
quote:
Louisiana allows a trust or partnership to accept the winnings. So you can be hidden.
Partially accurate.
The winnings can be claimed by a partnership/trust/etc. but before the entity can accept the funds, an individual must be verified as the holder and it is public record.
There is no way to claim a prize anonymously in Louisiana unless you pay someone to accept it and that could be risky.
This post was edited on 10/6/15 at 3:25 pm
Posted on 10/6/15 at 3:26 pm to AubieALUMdvm
And this is exactly how everyone that ever wins the powerball always goes broke
Posted on 10/6/15 at 3:34 pm to yellowfin
i cant wait to win the lottery and become a slum lord
hire my baws to run the properties
hire my baws to run the properties
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