Quote:
Originally Posted by JohnR
You know what Canal Front and Block Island goes for these days? I was thinking it wasn't enough 
500 mil -> 300 mil one time pay out -> 150 or so after taxes -> leave about 20 million - purchase 2-3 (maybe one on Cutty?) places plus setup the trust to keep in perpetuity - of course we'll need a boat AND Golf Cart insurance  |
I'm in and headed out to get 5 tickets. Just a note, we need to get one of our resident lawyers involved should we win. We will need to make sure we address the tax implications, the property titles and , most importantly, indemnifications.
John, you may need to set up an S corp or some other entity.
One other thing: What happens if we win a lesser prize? I vote the same rules apply. 15% to S-b and the rest get split. Even if we won $1M, it's a big chunk of dough