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If you won the lottery, how would you go about finding a good lawyer?

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Wreckem said:
At the very minimum you would probably want one to draw up a will and estate plan.
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Neither of which require a lawyer if you are smart. I have had quite a bit of money for quite some time and have never had a need for a lawyer. Nothing fancy to plan. I have no kids, my brother does....they get it all.

The only variable being what the death tax will be at the time. Based on that the strategy only changes to make sure you convert money holdings into non traceable high dollar physical assets that you can give to people without the government stealing your money. You would be surprised at all the collectible extremely high dollar crap out there that trades hands every day for cash only. Some of it so specific that only a small population even knows it exists. I know quite a few people that put money into such stuff a decade or two ago and are now selling the items for 10X plus what they bought it for and they get cash. The secret is to keep your money assets low enough to avoid the tax. A lawyer is useless in this situation.

It also helps to give as much away along the way while you are still alive to make sure the people you want to have it gets it instead of the government....who will simply waste it. If I cannot reduce the money holdings low enough in life to avoid the tax I will make sure a charity gets it instead of the government.
 
So what type of account would you put $250M in? I'm guessing not a passbook savings.

My luck, I'd win and then the dollar would collapse the next day.
 
Ronstang said:
Neither of which require a lawyer if you are smart. I have had quite a bit of money for quite some time and have never had a need for a lawyer. Nothing fancy to plan. I have no kids, my brother does....they get it all.

The only variable being what the death tax will be at the time. Based on that the strategy only changes to make sure you convert money holdings into non traceable high dollar physical assets that you can give to people without the government stealing your money. You would be surprised at all the collectible extremely high dollar crap out there that trades hands every day for cash only. Some of it so specific that only a small population even knows it exists. I know quite a few people that put money into such stuff a decade or two ago and are now selling the items for 10X plus what they bought it for and they get cash. The secret is to keep your money assets low enough to avoid the tax. A lawyer is useless in this situation.

It also helps to give as much away along the way while you are still alive to make sure the people you want to have it gets it instead of the government....who will simply waste it. If I cannot reduce the money holdings low enough in life to avoid the tax I will make sure a charity gets it instead of the government.
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This assumes that you are as smart as you think you are and that your tax avoidance scheme actually works. You may not be paying for a lawyer while alive, but your estate probably will after you are gone, and probably 10x what you would have paid an attorney to create an estate plan.

Also, as you are probably aware, most people are not smart and, if they tried to follow your plan, would screw it up royally.

Everyone hates lawyers until they need one and almost everyone needs one to do a proper will. Remember, it is lawyers who will be attacking the will.

But you are too smart to fall for the banana in the tailpipe trick. 😉

MotionMan
 
I think the other first steps would be to set up a PO BOX and then attempt to "de-list" my home address and phone numbers. Or downright cancel the latter. Close out my FB profile. Buy a weapon. Give it all a few weeks to let the media pressure die down and then go claim it and put into the bank ASAP. Have fun giving a way a bit of it to close family, etc. and then live off the interest.
 
GTaudiophile said:
I think the other first steps would be to set up a PO BOX and then attempt to "de-list" my home address and phone numbers. Or downright cancel the latter. Close out my FB profile. Buy a weapon. Give it all a few weeks to let the media pressure die down and then go claim it and put into the bank ASAP. Have fun giving a way a bit of it to close family, etc. and then live off the interest.
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Get a lawyer/CPA, set up a trust, claim the money anonymously.

Then try to live your life as normally as you can, including anonymous gifts to friends and family.

If I won the lottery, less than 10 people in the world would know about it (and all of AT, of course 😉 )

MotionMan
 
MotionMan said:
Get a lawyer/CPA, set up a trust, claim the money anonymously.

Then try to live your life as normally as you can, including anonymous gifts to friends and family.

If I won the lottery, less than 10 people in the world would know about it (and all of AT, of course 😉 )

MotionMan
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Winners aren't public knowledge?
 
Fmr12B said:
Tax lawyer > Tax CPA

Its not like a CPA license is required to prepare a tax return.
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yup.

I am sure my friends wife knows more than a few good tax lawyers. Especially since shes used to work at a huge firm and handled large accounts, like various professional athletes and this lady named Oprah...
 
MotionMan said:
Get a lawyer/CPA, set up a trust, claim the money anonymously.

Then try to live your life as normally as you can, including anonymous gifts to friends and family.

If I won the lottery, less than 10 people in the world would know about it (and all of AT, of course 😉 )

MotionMan
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Along the East Coast states at least, I'm pretty sure only those in Delaware (or maybe it was Rhode Island) can claim the winnings through a trust and not have their names disclosed to the world.
 
Jeeebus said:
Along the East Coast states at least, I'm pretty sure only those in Delaware (or maybe it was Rhode Island) can claim the winnings through a trust and not have their names disclosed to the world.
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This. I know in NJ/NY/CT you HAVE to make yourself public.
 
I think I would claim the money and take it to a place with low crime and high isolation. Maybe New Zealand or something. I would open up a photography studio and internet cafe.
 
swanysto said:
I think I would claim the money and take it to a place with low crime and high isolation. Maybe New Zealand or something. I would open up a photography studio and internet cafe.
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Human remains found buried under recently added concrete at a home in Plant City, Florida, are likely those of missing lottery millionaire Abraham Shakespeare, police said Thursday.
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Too isolated for me.

http://articles.cnn.com/2010-01-28/...r_1_gee-judd-murder-investigation?_s=PM:CRIME
 
MotionMan said:
This assumes that you are as smart as you think you are and that your tax avoidance scheme actually works. You may not be paying for a lawyer while alive, but your estate probably will after you are gone, and probably 10x what you would have paid an attorney to create an estate plan.

Also, as you are probably aware, most people are not smart and, if they tried to follow your plan, would screw it up royally.

Everyone hates lawyers until they need one and almost everyone needs one to do a proper will. Remember, it is lawyers who will be attacking the will.

But you are too smart to fall for the banana in the tailpipe trick. 😉

MotionMan
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And all it would take would be one disgruntled relative to fuck up his plan. And there are always disgruntled relatives when it comes to large estates being probated.

I'd rather spend $25k upfront than have my estate waste millions in legals fees after I die. Yeah the potential for an estate to spend millions in legal costs is there either way, but its much more likely if you do what he suggests.
 
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I thought in CA you had to reveal the winner's names even if it's in a blind trust, they gotta name the beneficiaries.
 
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