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I know in Georgia you cannot remain anonymous, but they are working on taxing us even more if we choose to remain anonymous. Better way is to claim the winnings as an entity or LLC or something to hide if you really care that much.
I know I will never win the lottery but will be due at some point to inherit stock and property worth a lot of money, and can't wait to see the headache that comes along with that.
When I was a kid, an older guy on our street won 44 million. Managed it well at first, his only big expense was a pontoon boat. Stayed in the same house, helped his kids a little, but nothing crazy. Eventually took some bad investment advice and lost all of it in the stock market. Why? Guy was in his 60s or 70s, took the lump sum and after taxes still had more then enough to live comfortably for the rest of his life. Very sad.
Not usually. It depends on your state. I live in Kansas and we can remain anonymous. In states where you cannot remain anonymous, I am guessing when you buy a ticket you are giving your implied consent to have your name publicized.
Even if you can't remain completely anonymous, there legal ways to shield your identity. Rent an apt in the largest city in the state and change your legal address to the apt. Then file a legal name change through the court to something super generic, like Mark Smith. Update your drivers license and SSN with the new name. Then go cash in your lottery ticket. Good luck trying to track down Mark Smith from Memphis.
If you really want to cover your tracks so it's harder to search for court records of the name change, move to a large city outside of your state to do the name change. Then move back and establish legal residence with the new name in the largest city in the state to cash in the ticket. All of this can be done in a couple of months. When you have the money, you can go through the process to change your name back to your original, if you want to, at your new address in Maui. Future lottery winners of America, you are welcome.
We won $100 in another state the year they started that lottery. Never bought another ticket up there because we believed we'd never win twice.
In my present location, I've won $6.00 off a scratch off someone gave me at Christmas time! It paid for a paperback book I'd bought for a class.
I feel like I win every time they pick numbers. At least I win the money I could have spent on a ticket! I know it would make life easier. But I guess I value the money we make ourselves more than something given for nothing or very little. And I'd sure want to remain anonymous because I'd be too willing to help too many people.
Daughter won $100 on a scratch off, which was good because she was supporting herself as a college student at the time. Went for gas and rent.
Not long ago a middle aged couple here in Yucaipa won over 100 million dollars. They bought a 7 mil dollar home in oak glen (above Yucaipa in the mountains) & gave money to their church & church members (each member received 25.00). I saw the couple at the grocery store last year bragging about their win fall & what they plans to do with the money. The couple is not shy.
Even if you can't remain completely anonymous, there legal ways to shield your identity. Rent an apt in the largest city in the state and change your legal address to the apt. Then file a legal name change through the court to something super generic, like Mark Smith. Update your drivers license and SSN with the new name. Then go cash in your lottery ticket. Good luck trying to track down Mark Smith from Memphis.
If you really want to cover your tracks so it's harder to search for court records of the name change, move to a large city outside of your state to do the name change. Then move back and establish legal residence with the new name in the largest city in the state to cash in the ticket. All of this can be done in a couple of months. When you have the money, you can go through the process to change your name back to your original, if you want to, at your new address in Maui. Future lottery winners of America, you are welcome.
Sounds too hard. I no longer have any interest in winning $1.5 billion.
I know in Georgia you cannot remain anonymous, but they are working on taxing us even more if we choose to remain anonymous. Better way is to claim the winnings as an entity or LLC or something to hide if you really care that much.
Lottery rules usually require you to disclose the beneficial owners (beneficiaries) of an LLC, trusts, etc. People have tried . . . and failed.
Quote:
Originally Posted by ahut2000
I know I will never win the lottery but will be due at some point to inherit stock and property worth a lot of money, and can't wait to see the headache that comes along with that.
I can relieve you of that headache. It's not going to be easy for me, but I am willing to sacrifice for you. Whoever you are.
I went to school with a girl whose father won the big lottery twice, this was back in the 80s, their family already owned a chain of body shops, so they were fairly well off, but he won $7 million, and then about 3 years later, won another $3 million lotto.
They did the smart thing, he put the money into his existing business and his entire family is extremely well off today because of it. They did do a little splurging, His daughter lisa drove a brand new mercedes in high school.
When I worked in a bank, we had a loan applicant whose sole source of income was the $20,000 for life he received through some lottery winnings. He seemed to be living a fairly ordinary life, with a middle-class suburban home, nothing too fancy.
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