What would you do...

[Tripp11]

Good information to know come Thursday morning...

Above, when I mentioned having a lawyer claim the ticket on my behalf, I was indeed thinking about having the lawyer claim it for a "trust", an "entity", if you will. The good things about some of that is the lottery office is a busy place - lots of comings and goings. Meet your lawyer/accountant there, sign what you gotta sign - leave. Press conference the next day. Do my absolute best to not have MY name/face nor my family's in the paper or on the news would make it that much better to just "live".

I would be more than willing to help.

Once that ticket is know to have sold in the State of Indiana, media coverage will be 24/7 on the lottery office with such a large jackpot. You might consider swinging into a costume shop to conceal your complete identity as you go into and out of the lottery headquarters.

I agree with your approach entirely, by the way. I would claim it thru a LLC, shielding my identity as much as possible. I would also continue working my job for a period of time just to remove any suspicion that it was me. Then 3-6 months down the road, just fade away. After all, you quit your job immediately after someone hits the lottery in your town, that would be a good indicator that you're now a wealthy man.

Good luck! I hope you win!

 

[Indy_Guy_77]

I would be more than willing to help.

Once that ticket is know to have sold in the State of Indiana, media coverage will be 24/7 on the lottery office with such a large jackpot. You might consider swinging into a costume shop to conceal your complete identity as you go into and out of the lottery headquarters.

I agree with your approach entirely, by the way. I would claim it thru a LLC, shielding my identity as much as possible. I would also continue working my job for a period of time just to remove any suspicion that it was me. Then 3-6 months down the road, just fade away. After all, you quit your job immediately after someone hits the lottery in your town, that would be a good indicator that you're now a wealthy man.

Good luck! I hope you win!

You can bet your bottom dollar that I wouldn't be going in the FRONT door of the lottery office, either. Or I'd dress up in an AT&T work uniform and carry my toolbox with me. That worked for the A-Team often enough - it's bound to work for me.

-J-

 

[bobzilla]

Let's see, cash option would put actual pay out somewhere around $255M. Pay off all of our bills, parents bills, b-i-l's bills, leaves us ~ $254M. Buy the farmland around us, with a lifetime lease to the farmer's family for use. Leaves us $253M. LEase a nice beachfront property in Maui for all the family to use. Leaves us $249M.

All the cars in our current fleet get donated to Goodwill. Wife gets a new Sorento SUV, I get a new Corvette Grand Sport and we get a nice Tahoe/suburban for cross country travel when we're not flying. Leaves us with $248M.

Build a nice indoor/outdoor range, a monster safe full of al lthe goodies I want/have wanted/will ever want. House redone EXACTLY to the wife's specs, leaves us with $247M.

Invest $50M, sock away the other $197M into bank accounts with 2% interest. Wife and I both put in our notices and find a way to "make do" with "only" $3.9M per year to live off of.

 

[Indy_Guy_77]

Let's see, cash option would put actual pay out somewhere around $255M. Pay off all of our bills, parents bills, b-i-l's bills, leaves us ~ $254M. Buy the farmland around us, with a lifetime lease to the farmer's family for use. Leaves us $253M. LEase a nice beachfront property in Maui for all the family to use. Leaves us $249M.

All the cars in our current fleet get donated to Goodwill. Wife gets a new Sorento SUV, I get a new Corvette Grand Sport and we get a nice Tahoe/suburban for cross country travel when we're not flying. Leaves us with $248M.

Build a nice indoor/outdoor range, a monster safe full of al lthe goodies I want/have wanted/will ever want. House redone EXACTLY to the wife's specs, leaves us with $247M.

Invest $50M, sock away the other $197M into bank accounts with 2% interest. Wife and I both put in our notices and find a way to "make do" with "only" $3.9M per year to live off of.

Not so fast....

Subtract an immediate 25% federal withholdings... + whatever the state gets... Then set plenty back for the income tax filings...

THEN proceed with your plan.

 

[bobzilla]

Current powerball payout I figured in the $425M, cash option is ~55-60% of total winnings after taxes. That puts us in the $255M.

 

[No2rdame]

What would I do with the money???

Oh, and one of these to drive around town...

 

[rhino]

1. Hire a lawyer to claim the prize for me.
2. Split 10% to each of my siblings to do what they want.
3. Keep my mouth shut and make as few obvious changes locally as possible.

 

[Suprtek]

 

[Tripp11]

You can bet your bottom dollar that I wouldn't be going in the FRONT door of the lottery office, either. Or I'd dress up in an AT&T work uniform and carry my toolbox with me. That worked for the A-Team often enough - it's bound to work for me.

-J-

I love it when a plan comes together!

 

[Bruenor]

After claiming the winnings, or having a lawyer claim it:

1) Discuss with my pastor and church Elders if I should give 10% directly to my local church, or if they want me to split that between several churches and Christian organizations. Do whatever they recommend.
2) Pay off all debt for myself, my family (not every second cousin that I've never seen), and my friends.
3) Set up a foundation in my son's name to assist families of long-term NICU babies.
4) Purchase a large amount of land and start construction of a house, large garage, shop, and stables. Build a 360 degree shooting range plus a long distance range. Set up the land that holds the range under a separate entity (for liability reasons, and if my lawyer advises it), and then open the range multiple times a year for training events and Appleseed shoots.
5) Speak with 1-2 friends about relocating to the property, build them houses, and pay them a yearly stipend to help me take care of the property. They will help take care of the houses, animals, and property while my family is traveling.
6) As a practical joke, pay to have all the moderators here at INGO take Yeager's Fighting Pistol class, but have them all show up the first day with 1911's. Pay someone to get pictures of Yeager's face when he sees all of the 1911's.

 

[hoosierdaddy1976]

...

Oh, and one of these to drive around town...

i think she'd get tired after an hour or two, better get a few.

 

[hoosierdaddy1976]

buy an island and hunt the most dangerous game.

 

[Bunnykid68]

I would spend money making fun of people on the government handouts.

 

[Indy_Guy_77]

I would spend money making fun of people on the government handouts.

So...no changes at all, then?

 

[hoosierdoc]

I would hire a guy to make $10,000 withdrawals from a bank and then deposit it in another branch down the road, then repeat from
9-5, every day of the week. The paperwork involved and administrative headache would be enough for them to cave and finally start accepting unrolled coin again! Then, when I had my way, i'd let my employee keep $20k for his honesty and buy a nice island in the Caribbean, make myself a country, ally with the US, spend nothing on defense, and take a nap, resting soundly with the knowledge America has my back.

 

[Indy_Guy_77]

I would hire a guy to make $10,000 withdrawals from a bank and then deposit it in another branch down the road, then repeat from
9-5, every day of the week. The paperwork involved and administrative headache would be enough for them to cave and finally start accepting unrolled coin again! Then, when I had my way, i'd let my employee keep $20k for his honesty and buy a nice island in the Caribbean, make myself a country, ally with the US, spend nothing on defense, and take a nap, resting soundly with the knowledge America has my back.

Can I be your security guard?

 

[jrh84]

As much as I'd like to think I'd be extremely wise and thoughtful with $250 million (and I think I would for the most part), there would be a couple million worth of cars and ballistic toys purchased in short order. The other $248 million would be spent/saved/invested responsibly though.

As far as keeping your job...I think I'd still work (since I love my job and like most of my coworkers) but with a very different outlook. I wouldn't feel bad about calling it a day at 3 or sleeping in on Saturdays.

 

[kjf48197]

No debt for my friends and family. New shooting range, truck, .50 BMG, trap gun, address, work shop, s few charities, GE mini gun, lots of investing, a good will or trust, see all of the U.S. , lots of fishing and probably a list of things that everyone on this site would do, you know enjoy life and invite my friends to join me.

 

[buckstopshere]

I would keep $10 mil for me and the wife, $5 mil each for my girls in a trust, and give 10 mil away to friends and family with the remaining balance going to taxes and to our church.

I'd keep working. I love my job. My wife already stays home.

I don't have a burning desire to be rich.

 

[walker]

I have always said, if I would win a big lottery, I will asphalt the yard and paint it green. Then I would get rid of the mower.