Euromillion & family trust
Discussion
saknog said:
If you won the Euromillions, would you consider on setting aside an amount to put in a trust to provide immediate family and friends with an income for life or just give out lump sums to help them?
What I did was I spent a lot of money on booze, birds, and fast cars. The rest I just squanderedsaknog said:
If you won the Euromillions, would you consider on setting aside an amount to put in a trust to provide immediate family and friends with an income for life or just give out lump sums to help them?
I'd buy all the houses around my racist / religious sisters property and fill them with immigrants , perhaps set one up as a mosque and have call to prayer 24hrs a day saknog said:
If you won the Euromillions, would you consider on setting aside an amount to put in a trust to provide immediate family and friends with an income for life or just give out lump sums to help them?
Not that I have ever thought about this but the sums to be given would be placed in a bank account and they would then have access to it via a card etc. So can spent as much as they like tc BUT seek to avoid IHT if we kark it etc as it is still in an account in our names....just that they have access to... Purosangue said:
saknog said:
If you won the Euromillions, would you consider on setting aside an amount to put in a trust to provide immediate family and friends with an income for life or just give out lump sums to help them?
I'd buy all the houses around my racist / religious sisters property and fill them with immigrants , perhaps set one up as a mosque and have call to prayer 24hrs a day 
You’ve thought about this a lot haven’t you
thatsprettyshady said:
saknog said:
If you won the Euromillions, would you consider on setting aside an amount to put in a trust to provide immediate family and friends with an income for life or just give out lump sums to help them?
I'd give it to people on Pistonheads 
We have contingency planned this:
>£100m -£1m to each sibling on both sides. £500k to each niece and nephew on both sides at 21. £1m to each pair of parents. £500k to each aunt / uncle.
That wipes out £20m.
We then buy a farm and enjoy having rare breed cattle, horses and a rather nice garage.
<£100m but >£50m - £500k to each sibling and parents and buy a farm, rare breed cattle and horses etc etc.
>£50m - Tell nobody, we already have a nice lifestyle and are both professionals. Slowly increase our standard of living over a few years.
I give up being at sea and tell people I now work from home as a shipping broker, similarly my wife works from home most days a week anyway so we just pretend for a while.
Being a shipping broker turns out to be surprisingly lucrative, and within 10 years we are living like millionaires but people think we have earned it.
>£100m -£1m to each sibling on both sides. £500k to each niece and nephew on both sides at 21. £1m to each pair of parents. £500k to each aunt / uncle.
That wipes out £20m.
We then buy a farm and enjoy having rare breed cattle, horses and a rather nice garage.
<£100m but >£50m - £500k to each sibling and parents and buy a farm, rare breed cattle and horses etc etc.
>£50m - Tell nobody, we already have a nice lifestyle and are both professionals. Slowly increase our standard of living over a few years.
I give up being at sea and tell people I now work from home as a shipping broker, similarly my wife works from home most days a week anyway so we just pretend for a while.
Being a shipping broker turns out to be surprisingly lucrative, and within 10 years we are living like millionaires but people think we have earned it.
This will require some self-discipline on your part.
You will need to ensure you ration your intake of coke, hookers, reckless and expensive pursuits, and daily full-fat fry-ups to ensure that you survive at least seven years after you have dished out your largesse to ensure that the recipients of your generosity are not subject to attention from HMRC.
You will need to ensure you ration your intake of coke, hookers, reckless and expensive pursuits, and daily full-fat fry-ups to ensure that you survive at least seven years after you have dished out your largesse to ensure that the recipients of your generosity are not subject to attention from HMRC.
Assuming I win on my own, I doubt I'll blow though more than about 25% of the jackpot in my lifetime.
The older I get the less a fleet of hypercars or even interesting cars appeals. Reckon I could get by with a 3 car garage! Daily, classic, fast. Maybe only a good daily frankly!
As I'm not married and don't have a long term partner. I don't have kids. None of those things are likely to change. I don't really need a 5 bed house to knock about in. So any property would be regular sized and priced.
My parents would obviously get whatever they wanted or needed for the rest of their lives. But they live frugally anyway. Holidays and a new kitchen and bathroom don't interest them. It would be bloody hard work to get them to take anything!
My brother has 3 children. But he's s
te with money generally and would piss a large chunk of it away, so I'd probably just leave it all to the 3 kids when the youngest hits 30 in a decade and a half or so. I wouldn't let them know it was coming either in a bid to make them at least work and be normal before having unbelievable wealth bestowed upon them.
With some compulsory financial advice from actual experts! Not that it really matters, I'm sure I read somewhere that it takes 2 generations to blow wealth. So they'd all end up having nothing to give to THEIR children in time.
The older I get the less a fleet of hypercars or even interesting cars appeals. Reckon I could get by with a 3 car garage! Daily, classic, fast. Maybe only a good daily frankly!
As I'm not married and don't have a long term partner. I don't have kids. None of those things are likely to change. I don't really need a 5 bed house to knock about in. So any property would be regular sized and priced.
My parents would obviously get whatever they wanted or needed for the rest of their lives. But they live frugally anyway. Holidays and a new kitchen and bathroom don't interest them. It would be bloody hard work to get them to take anything!
My brother has 3 children. But he's s
te with money generally and would piss a large chunk of it away, so I'd probably just leave it all to the 3 kids when the youngest hits 30 in a decade and a half or so. I wouldn't let them know it was coming either in a bid to make them at least work and be normal before having unbelievable wealth bestowed upon them.With some compulsory financial advice from actual experts! Not that it really matters, I'm sure I read somewhere that it takes 2 generations to blow wealth. So they'd all end up having nothing to give to THEIR children in time.
Will repeat the latest revision on my standard reply. Engage a solicitor or other agent with a strict non disclosure agreement. Arrange for them to deliver to each house on our road including ourselves a large gold envelope containing a decent amount of cash, few tens of thousands together with an anonymous note saying thanks for being such nice people. That would include ourselves just to blend in.
There would be one exception, the house occupied by a set of asshats. They would get no envelope for a few days just to let the tension and speculation build. Then another gold envelope would arrive at the asshats address as if it had just gone astray, inside would be a big bundle of monopoly money and a note to say you lot get nothing because you're a set of c****.
There would be one exception, the house occupied by a set of asshats. They would get no envelope for a few days just to let the tension and speculation build. Then another gold envelope would arrive at the asshats address as if it had just gone astray, inside would be a big bundle of monopoly money and a note to say you lot get nothing because you're a set of c****.
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