23 February 2016

A lot of good quotes go by

Week after week reading blogs, a lot of good quotes go by  because its not bookmarked or copied and pasted. How to keep track of links to good quotes  is a mystery to this reader. Reading lately about lottery winning, sharing, taxes and such has been interesting. The majority of advice I hear is to get a lawyer right away. Someone once told me lawyers charge a percentage of the estate for writing a will for you. I look it up on the Internet to learn lawyers can charge a flat fee for a simple will or an hourly rate. Costs vary.
What about sharing lottery money?* How much would a lawyer charge for handling gifts a winner wants to give? Costs vary. There's no way around paying for legal help with finances if you want to be smart about it, in my opinion.
If I won hundreds of millions of dollars, and only then, for my select close family members, and one other person, I'd  set up trusts through my lawyer. No checks or gifts will be handed out by me even if I win only ten plus million jackpot. For amounts under ten million, I never say I'm giving money to anyone outside specific family members. 
After reading the horrors lottery winners can go through, I tell people I'd set up a foundation where people wanting money can apply for grants. A board would make those decisions, not me.  Years ago I'd joke around with friends about what we'd do if we won, a car, a pool, a vacation, and in one case a face lift. I didn't win that jackpot, and either did they. Sadly they've all passed away.  I use to dream about winning to relax. Now, its uncomfortable to dream worrying about who's going to bug me for money. I won't feel safe winning. I don't play as often as I use to. And I feel better for it.

UPdate, 23 February 2017
From what I have read...giving away money isn't straight forward as one might think. There can be problems for you if a giftee has problems connected to that gift. Money and/or gifts I might share if I win a over 100 million dollars in Powerball or Mega Millions will go through a lawyer with strict rules in my life time and in my will.


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