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D.V.lottery games for 5/28--5/29--2019


jeepguy
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1)  Pool(s) is (are) open to identifiable/registered DV MEMBERS ONLY (Sorry, no extended family or friends... or Lopsters, as they are not allowed in the regular forums, and therefore cannot comply with the rules). 

2)  One SET of numbers per ENTRANT per POST per FAMILY (Multiple members in a family may participate under ONE ENTRANT ONLY).  (Please select CASH OPTION when purchasing numbers/ticket).  Annuity tickets will not be disqualified and will be factored accordingly if determined a winner, but our preferred intent is for the lump sum payout.

3)  A DV Member may purchase and post up to ONE ticket for ANOTHER DV Member (except Lopsters), with that member's acknowledgement and consent.

4)  ONE SHARE per entrant of any winnings of the JACKPOT (CASH OPTION!!!) only (Approx. $100 million minimum drawing)

5)  Winning ticket/entrant agrees to share EQUALLY with ALL qualified entrants in this thread.

6)  Qualified entrants must have numbers/entry posted prior to drawing date/time.

7)  Qualified entrants must have a physical ticket to present upon winning, to prove their pledged participation.  HOLD onto your "LOSING" ticket.  Take a picture of your "LOSING" ticket as a possible backup verification.

😎  Winning entrant is responsible for ALL communication with, and coordination of, winning shareholders immediately after the drawing.

9)  ALL winning participants/shareholders agree to respect and abide to the PRIVACY terms of the WINNER.  Disclosure of identity of winning entrant is sole discretion of winner.  This is for the security and safety of all.

10)  Winning shares will be dispersed upon final consensus and WRITTEN AGREEMENT, guaranteeing individual preferences, privacy and security.

11)  By posting your pledged ticket/numbers in the thread(s), YOU AGREE TO THE TERMS POSTED ABOVE.

 

The following has been added to the rules as of 9/17/2016 to clarify a question about participation:

NEW RULE!  Ticket/numbers entered into THIS DV POOL are for this pool exclusively.  It may not be entered into other pools.  Its entry into the DV POOL is time-stamped as verified by the post, and acknowledged by the entrant that it is exclusive to DV.  Should it be found that the WINNING TICKET is entered into multiple pools, WE will claim that ticket as the WINNER for the DV POOL EXCLUSIVELY,  irrespective of the time-stamp of other pools.  Should another pool have a similar rule, or no rule to this regard, the time-stamp may be an effective qualifier if necessary to determine the participant's intent, as well as order of participation

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had an unusual dream last night ,  (  a sudden feel of no worries about money  ! )  as in sky was the limit on needs and cost ! 

here's to  being  " retired the right way "     :crossedfingers:

 my dreams I guess takes a couple of weeks  :lol:

Edited by jeepguy
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1 minute ago, pokerplayer said:

Your quick on the draq today jeep ! lol

 

  Good luck to us all

 

   pp

been a goofy weekend holiday to say the least ,  posted these as soon as I finished the yard work , and  put things away before the rain starts !

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This is a slightly older article I came across, but the main requirments remain the same. Hope we need this real soon !

 

   pp

 

Using LLC or Trust to Receive Lottery Winnings

Tuesday, January 12, 2016

Today, the hottest financial topic (aside from the collapse of Chinese markets) is who will win the PowerBall drawing (latest estimates are at $1.4 billion) and what will they do with the winnings!  A couple of points are worth noting before you turn in your winning ticket.  

First, whoever wins will not receive $1.4 billion in a lump-sum.  If the winner elects to receive a lump-sum, the current estimated payout is around $868 million (based upon the present value of a stream of payments over 29 years).  Then, you have to subtract federal and state income taxes.  The highest federal income tax rate is 39.6 percent; the state rates will range from a high in New York and Maryland of around 8.8 percent to a low of zero in certain states that do not tax lottery winnings (such as California, Pennsylvania and Florida).  Note that the IRS only requires withholding of 25 percent at the time of the payout if the winner gives his or her Social Security Number; the rest of the federal taxes come due with the next estimated tax payment voucher (i.e., April 15th).  A winner can file IRS Form 5754 to allocate the proceeds among multiple winners and spread the income tax consequences according to their contributions or other sharing agreement they may have.

Given that lottery winners are sometimes as cursed as they are lucky (i.e., people constantly asking for handouts, others trying to steal the proceeds, the winner having to deal with the complexities and burdens of “excessive” wealth), the natural inclination of a few savvy individuals is to try to remain anonymous and not disclose the fact that they have won.  This is not as easy it sounds.  Of the 44 states and the District of Columbia who participate in the PowerBall bonanza, only six states permit pure anonymity (DE, KS, MD, ND, OH and SC).  Three other states apparently allow anonymity if the winnings are claimed through a trust or limited liability company (LLC).  The remaining states (including Virginia and DC) generally require disclosure of the winner’s name, hometown and place where the winning ticket was purchased. Needless to say, the winners will be hounded by the press and others once their names are announced.  Each winner, at a minimum, should consider, changing his or her phone number before signing the winning ticket and submitting it to the appropriate state lottery authority.

While it may not be possible to completely hide the identity of the PowerBall winner in all states, it may be possible to create a legitimate smokescreen for multiple winners using an LLC or trust.  If you are using either type of entity, you will want to be careful to select the right jurisdiction where the LLC or trust will be subject to the least adverse income tax consequences.  Either type of entity can be used to provide privacy for multiple winners.  For example, if you use a trust, then each winner will sign a trust agreement agreeing to transfer his or her interest in the winning ticket to the trust and appointing one or more trustees to act on behalf of all of the winners.  With this PowerBall jackpot being so high, the prospective winners should consider selecting a corporate trustee or bank to serve in that role.  Alternatively, the winners can form an LLC and appoint a single manager to handle the logistics of receiving the winnings, reporting to the IRS and state taxing authorities and distributing the proceeds in the manner they have agreed.

Importantly, the winners should consult with their own attorney as soon as they learn that they have won the jackpot and before they announce this windfall to the world.  The attorney should have significant experience in income and estate and gift taxes, as well as trust and LLC planning.  The attorney also can help create a sharing agreement or contribution agreement outlining everyone’s rights, powers and responsibilities, as well as the appropriate trust or LLC documentation, on a timely basis.  In addition, the winners should individually consult with a CPA and certified financial planner to determine how they will structure the lottery payout and how they will plan their lives following receipt of the lottery proceeds.  This team of professionals should be consulted before the winning ticket is signed and turned in, which usually is required within 90-180 days after the winning numbers are announced (depending upon the state).  In that way, the winners can maximize the benefits and minimize the stress of being the “chosen ones”.

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