cashing in without a trust

[stick&string]

Just wandering if anyone would know the answer to a question. Iam one that has not done a trust or talked to a tax person or anything. Just didnt want to go in "being broke" and talk about millions of my make believe money. I would just have felt like a fool. I have tried to educate myself and be ready but i was wandering if anyone knows , the day we cash in, at bank or where ever , they do not take care of taxes. will it make a difereance how your money is handled? Does it half to be cashed in and all put directly into a trust or can you cash in and send it to your acct and later on do your trust. Say a week or 2 later?/??does it matter?? I gues the real question is do i half to set it up before i cash in or can i do it later, after in cash in. thanks for any info.

'

[Kanga]

Just wandering if anyone would know the answer to a question. Iam one that has not done a trust or talked to a tax person or anything. Just didnt want to go in "being broke" and talk about millions of my make believe money. I would just have felt like a fool. I have tried to educate myself and be ready but i was wandering if anyone knows , the day we cash in, at bank or where ever , they do not take care of taxes. will it make a difereance how your money is handled? Does it half to be cashed in and all put directly into a trust or can you cash in and send it to your acct and later on do your trust. Say a week or 2 later?/??does it matter?? I gues the real question is do i half to set it up before i cash in or can i do it later, after in cash in. thanks for any info.

'

Your best choice IMHO is to sign up for 3 months of VIP, which with discount is less than 45 dollars.

IMHO your next best choice is to read everything you can on the forum that deals with investmen and tax strategies.

[eastcreek]

Just wandering if anyone would know the answer to a question. Iam one that has not done a trust or talked to a tax person or anything. Just didnt want to go in "being broke" and talk about millions of my make believe money. I would just have felt like a fool. I have tried to educate myself and be ready but i was wandering if anyone knows , the day we cash in, at bank or where ever , they do not take care of taxes. will it make a difereance how your money is handled? Does it half to be cashed in and all put directly into a trust or can you cash in and send it to your acct and later on do your trust. Say a week or 2 later?/??does it matter?? I gues the real question is do i half to set it up before i cash in or can i do it later, after in cash in. thanks for any info.

'

I hope I'm reading between the lines correctly when I say this. Don't worry about attempting to avoid taxes on the gains if/when the RV occurs; there is no avoiding that. Taxes will be due; don't let anyone tell you otherwise. SO, that means that a trust before the RV is not necessary. Afterward, a trust can provide you with some protections, so by all means investigate that with a good tax attorney, and a good CPA. They could be very helpful.

Now, having said that, don't be bashful in starting to talk with those experts right now. People like you and me, have dreams (some of which come true), and it won't hurt a thing to talk with those individuals who would be helpful later on. The ones I've talked with have been more than happy to help me plan ahead (dream). They all dream/plan for better days.

Go RV !!!

[Choppermike]

Stick&String: Kanga is absolutely, 100% correct. Beg or borrow the 3-month sign-up fee for the VIP on this site. The info that is being passed back and forth is worth thousands of dollars - easily. The info on the VIP side of the fence is legit and you can actually make plans on this info. For the most part, spending time in the RUMORS section should be done for entertainment purposes only.

Hope this helps.

[Passenger]

Just wandering if anyone would know the answer to a question. Iam one that has not done a trust or talked to a tax person or anything. Just didnt want to go in "being broke" and talk about millions of my make believe money. I would just have felt like a fool. I have tried to educate myself and be ready but i was wandering if anyone knows , the day we cash in, at bank or where ever , they do not take care of taxes. will it make a difereance how your money is handled? Does it half to be cashed in and all put directly into a trust or can you cash in and send it to your acct and later on do your trust. Say a week or 2 later?/??does it matter?? I gues the real question is do i half to set it up before i cash in or can i do it later, after in cash in. thanks for any info.

'

Im in the same boat as you in the sense that im waiting until post RV due to the fact I dont actually have this money in hand yet.

I did how ever join VIP a while back and I am very confident in what Adam has set up for us and I know It will all go smooth and fine after. hope that helped.

[lvbodyworker]

In addition to joining VIP, another idea is to cash in one note, go see your attorney, form any entities then cash out how ever much you want, whether it is a percentage or all. Just my opinion.

[20MillionDinar]

In addition to joining VIP, another idea is to cash in one note, go see your attorney, form any entities then cash out how ever much you want, whether it is a percentage or all. Just my opinion.

This is what I would also recommend if you dont' want to do your homework and due diligence BEFORE the potential RV. Once you cash in it doesn't matter what you do later on as far as establishing any type of entity, you will pay taxes as a U.S. citizen at whatever rate that is. This is why it is important to plan ahead. I believe it was Abraham Lincoln who said "If I had 4 hours to cut down a tree I would spend the first 3 hours sharpening my axe..." Think about that. Plan ahead and prepare. Don't worry about not having the money in hand before you set your goals.

Taxes are certain but HOW MUCH all depends on how you establish yourself before the potential RV and how you decide to cash in.

[drummerboy]

I agree with IVBody.... Just cash in ONE note. The smallest one you have. You jsut need to get enough money to take care of setting up any entity you need as well as pay a few bills for a 2 to 3 week period.

The problem is, if you cash out everything into a personal account, you are now going to pay the "Capital Gains Taxes" as well as you would be raising your personal tax level through the roof.

The other major problem you would have is you would most likely get audited but the IRS if you cash it all out into a person account, because all of it would end up as personal income. Trust me, you do not want the IRS crawling through your life.

The VIP section is great, but the info is also out there for free if you will take the time and research it. In the end, it will be better for you to go out and educate yourself as apposed to having it spoon fed to you. At the end of the day, you are now going to have more money than you have ever had in your life and you need to learn how to handle it and yourself. Spending some time educating yourself if going to be the best thing you can do for yourself.

[wicked93gs]

I personally wont count my eggs before they hatch, If and when it RVs then I will consult a tax professional(after all I would be under no pressure to cash in the first week), but there is no point as of yet...true, it would be nice to know....but I wont make that type of fool of myself, which I guess is where the VIP section comes in handy if you look at it strictly from an educational standpoint

[stick&string]

Just wandering if anyone would know the answer to a question. Iam one that has not done a trust or talked to a tax person or anything. Just didnt want to go in "being broke" and talk about millions of my make believe money. I would just have felt like a fool. I have tried to educate myself and be ready but i was wandering if anyone knows , the day we cash in, at bank or where ever , they do not take care of taxes. will it make a difereance how your money is handled? Does it half to be cashed in and all put directly into a trust or can you cash in and send it to your acct and later on do your trust. Say a week or 2 later?/??does it matter?? I gues the real question is do i half to set it up before i cash in or can i do it later, after in cash in. thanks for any info.

'

Thanks alot, your opinions have been very helpful and educational. I like the idea of cashing in 1 of the smaller notes and setting everything up with a professional.If i had not asked the quetion i was planning on cashing out everything into my personal back actt and THEN setting up. That would have caused me to pay more taxes than necessary . I dont mind paying my fair share but the more i keep the more people i can help.