Given my age and lack of anyone to inherit, the lump sum is better off for me.
There's a cutoff age were the benefits of the lump sum outweigh the benefits of the annuity. That's under age 55 BTW. Especially since the uncertainty of any of those games continuing.
Not that I actually play any of those games.
BTW the two winners are out of Kansas City Missouri and Houston Texas. They have to split it.
AI generated on the advantages of incorporation over a living trust.
Incorporating instead of using a living trust for estate planning can have distinct advantages, especially for lottery winners. Here are some reasons why you might prefer incorporation:
Benefits of Incorporating Over a Living Trust
Business Structure
Incorporating creates a formal business entity, which can provide liability protection and separate personal assets from business assets. This can be particularly beneficial for managing large sums of money.
Tax Benefits
Corporations may offer various tax advantages, such as the ability to deduct certain business expenses. This can lead to more efficient tax management compared to personal income tax rates.
Investment Opportunities
An incorporated entity can engage in various business activities, allowing for diversified investment strategies that might not be available through a living trust.
Control and Management
Incorporation allows for structured management and decision-making processes, which can be beneficial for handling large financial assets and investments.
Continuity
A corporation can continue to exist beyond the life of its founders, ensuring that the assets can be managed and passed on according to the owner's wishes, even if they pass away.
Flexibility in Distribution
Unlike a living trust, which may have specific terms for distribution, an incorporated entity can provide more flexibility in how and when funds are distributed to beneficiaries or reinvested.
Incorporating can be a strategic choice for managing wealth, especially for lottery winners who want to ensure long-term financial stability and growth. If you have specific aspects of this strategy you'd like to discuss further, feel free to share!
