Lottery/Euromillions

[Carmona]

Says it's a family syndicate which suggests they've thought about this and are already spreading it around and thus avoiding some taxes at least. This is one of the first steps seemingly, that a lot of people ignore. You can't just gift a child 10 million. So yeah, maybe they're smart.

 

[steve sanders]

Says it's a family syndicate which suggests they've thought about this and are already spreading it around and thus avoiding some taxes at least. This is one of the first steps seemingly, that a lot of people ignore. You can't just gift a child 10 million. So yeah, maybe they're smart.

seems they immediatley sought legal advice which is the way to go for anyone that wins big.

i've heard that lottery companies will try to hold the money as long as possible to pick up the interest etc, amongst various other pitfalls and potential problems.

 

[JimmyBarrySmurph]

seems they immediatley sought legal advice which is the way to go for anyone that wins big.

i've heard that lottery companies will try to hold the money as long as possible to pick up the interest etc, amongst various other pitfalls and potential problems.

It takes a few days for the money to be transferred to Ireland and before the lotto have it to give out.
Legal and financial advice is essential before collecting. Set up the family syndicate which each member has to sign up to. Non disclosure agreements etc. This also Stops the real winner getting sued by family too- as used to happen a good bit.
On that sum of dough setting up a family thrust is important too from a tax point of view and deciding where is best to place the money- the credit union won’t take it like. The Bank just might not want that much cash on deposit either.
With 250m you’d most likely be setting up a family thrust and then employ staff to run it for you.. Distribute €50m to family/friends in lump sums and invest the €200m. The 2-3 staff including investment manager would cost you circa €600k a year but would make on average €30m a year profit if you invested €200m.
The thrust would have rules on what is done with the profit. Maybe €6m (20% of profits) is given out to the family and the €23m reinvested etc
It would be lovely to have these problems!!

 

[Jim Comic]

It takes a few days for the money to be transferred to Ireland and before the lotto have it to give out.
Legal and financial advice is essential before collecting. Set up the family syndicate which each member has to sign up to. Non disclosure agreements etc. This also Stops the real winner getting sued by family too- as used to happen a good bit.
On that sum of dough setting up a family thrust is important too from a tax point of view and deciding where is best to place the money- the credit union won’t take it like. The Bank just might not want that much cash on deposit either.
With 250m you’d most likely be setting up a family thrust and then employ staff to run it for you.. Distribute €50m to family/friends in lump sums and invest the €200m. The 2-3 staff including investment manager would cost you circa €600k a year but would make on average €30m a year profit if you invested €200m.
The thrust would have rules on what is done with the profit. Maybe €6m (20% of profits) is given out to the family and the €23m reinvested etc
It would be lovely to have these problems!!

or

blow it all on coke and hookers in vegas over one glorious weekend


that's what I did when I won


now I live in a cardboard box under a bridge and eat roadkill on a daily basis ... but what a weekend it was!!!!!

 

[Blue Jasmin]

It takes a few days for the money to be transferred to Ireland and before the lotto have it to give out.
Legal and financial advice is essential before collecting. Set up the family syndicate which each member has to sign up to. Non disclosure agreements etc. This also Stops the real winner getting sued by family too- as used to happen a good bit.
On that sum of dough setting up a family thrust is important too from a tax point of view and deciding where is best to place the money- the credit union won’t take it like. The Bank just might not want that much cash on deposit either.
With 250m you’d most likely be setting up a family thrust and then employ staff to run it for you.. Distribute €50m to family/friends in lump sums and invest the €200m. The 2-3 staff including investment manager would cost you circa €600k a year but would make on average €30m a year profit if you invested €200m.
The thrust would have rules on what is done with the profit. Maybe €6m (20% of profits) is given out to the family and the €23m reinvested etc
It would be lovely to have these problems!!

Surely 200 million is enough without trying to earn an extra 30 million a year?

You could spend some of it on altruistic projects in your locality, that would diminish any burning resentment against the winner.

 

[Browser Brody]

It takes a few days for the money to be transferred to Ireland and before the lotto have it to give out.
Legal and financial advice is essential before collecting. Set up the family syndicate which each member has to sign up to. Non disclosure agreements etc. This also Stops the real winner getting sued by family too- as used to happen a good bit.
On that sum of dough setting up a family thrust is important too from a tax point of view and deciding where is best to place the money- the credit union won’t take it like. The Bank just might not want that much cash on deposit either.
With 250m you’d most likely be setting up a family thrust and then employ staff to run it for you.. Distribute €50m to family/friends in lump sums and invest the €200m. The 2-3 staff including investment manager would cost you circa €600k a year but would make on average €30m a year profit if you invested €200m.
The thrust would have rules on what is done with the profit. Maybe €6m (20% of profits) is given out to the family and the €23m reinvested etc
It would be lovely to have these problems!!

If i ever win 250 million in the lotto, you’ll be the first poster i DM.

How do you know so much about it ?

 

[jimmym]

or

blow it all on coke and hookers in vegas over one glorious weekend


that's what I did when I won


now I live in a cardboard box under a bridge and eat roadkill on a daily basis ... but what a weekend it was!!!!!

As the room service said to George Best..where did it all go wrong?

 

[Pontipine]

It takes a few days for the money to be transferred to Ireland and before the lotto have it to give out.
Legal and financial advice is essential before collecting. Set up the family syndicate which each member has to sign up to. Non disclosure agreements etc. This also Stops the real winner getting sued by family too- as used to happen a good bit.
On that sum of dough setting up a family thrust is important too from a tax point of view and deciding where is best to place the money- the credit union won’t take it like. The Bank just might not want that much cash on deposit either.
With 250m you’d most likely be setting up a family thrust and then employ staff to run it for you.. Distribute €50m to family/friends in lump sums and invest the €200m. The 2-3 staff including investment manager would cost you circa €600k a year but would make on average €30m a year profit if you invested €200m.
The thrust would have rules on what is done with the profit. Maybe €6m (20% of profits) is given out to the family and the €23m reinvested etc
It would be lovely to have these problems!!

I’m wrecked after reading that

 

[Carmona]

I’m wrecked after reading that

All the thrusting maybe?

 

[JimmyBarrySmurph]

All the thrusting maybe?

And I spelt it that way too