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Old 08-22-2017, 08:58 PM
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Default Powerball

It's now over $700 million. If you won it would you take the lump sum?
Mark Cuban said not to take the lump sum.
https://www.yahoo.com/finance/news/p...165244910.html
I don't know enough how it works to know what the winner would get if he took it in a lump sum or otherwise.
I wouldn't even know a "good" tax attorney. What's to stop the "good" attorney from ripping you off?

I would buy some gold and property. And with the lump sum I could take some to put in my own annuity.

I think it would be pretty hard to to (as he said)
Quote:
. . . to blow it all in one spot.
As for not giving any friends/relatives money, hey what would it hurt to give out $100,000.
As for no one "needs" that how about if the winner just just let's friend or relative pick a nice house to live in for free?

http://www.powerball.com/pb_home.asp

I think I could live on $443 Million even after tax.
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Last edited by Catavenger; 08-22-2017 at 09:09 PM.
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Old 08-22-2017, 09:13 PM
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Default Re: Powerball

After Tax: https://www.usamega.com/powerball-jack
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Old 08-23-2017, 09:53 AM
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Default Re: Powerball

move to Washington state
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Old 08-23-2017, 07:41 PM
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Default Re: Powerball

Jim there are a few other states that don't charge income tax.
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Old 08-24-2017, 08:08 PM
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Default Re: Powerball

I noticed that a woman in Mass. won it and already has claimed it.
I was wondering if the winner has to make a public appearance or not?
I also saw that the winners don't get the entire amount if they want it in a lump sum.
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Old 08-24-2017, 09:23 PM
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Default Re: Powerball

That says thatin Mass. the winner has to reveal his or her name

https://www.yahoo.com/news/m/f1e1599...powerball.html

One more reason not to live there!
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Old 08-25-2017, 09:04 AM
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Default Re: Powerball

If you win $700 million (really just 350) you should be able to hire a series of lawyers to set up a series of trusts and/or corporations. Then have a trustee claim the prize.
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Old 08-25-2017, 09:02 PM
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Default Re: Powerball

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Originally Posted by PBinWA View Post
If you win $700 million (really just 350) you should be able to hire a series of lawyers to set up a series of trusts and/or corporations. Then have a trustee claim the prize.
Good idea.
From what I read she did everything wrong.
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