I don't understand why the government would even find out about the cash.
Guy has cash in a box. His family takes out all his belongings upon his death. Daughter finds box and pockets cash.
What am I missing here?
I don't understand why the government would even find out about the cash.
Guy has cash in a box. His family takes out all his belongings upon his death. Daughter finds box and pockets cash.
What am I missing here?
Unfortunately I left out key info. Girl is 9 in another state. Dying friend doesn't want daughter or parents near it. I guess depositing the cash would be fine. I'm not how long dude will have to take care of all this.
So if he has a estate trustee. Or whoever the person who doles out the money from his estate would have access to the box?
It is official. Redietz will never be on Dan Druff's podcast. "too much integrity"
Unfortunately I left out key info. Girl is 9 in another state. Dying friend doesn't want daughter or parents near it. I guess depositing the cash would be fine. I'm not how long dude will have to take care of all this. Would hate to see the money wasted. If it could be doled out at the right time for his daughter it could possibly turn her life around from where it likely is headed.
It is official. Redietz will never be on Dan Druff's podcast. "too much integrity"
I think he needs to set up a trust, then she gets it at a certain age.
The original article made me think twice. My gut reaction was, yes the jackpot should always be paid, but on second thought doing so is actually encouraging someone to continue to break the law. They made a point when they said him placing a wager on the property was illegal. But definitely the casino should not be allowed to pocket it.
No body without a kehy and being listed as an owner will have access to the safe deposit box after he dies until a judge signs an order allowing the lock to be drilled and the contents inventoried.
With the girl being nine a trust is his best route to fo: fund it by investing the cash in a safe thing like CD's.
He better hurry, sounds like...
What, Me Worry?
I don't personally know the law of safety deposit boxes but with Frank Herbert the author of the Dune books he left specific instructions for where the book series was to for his son Brian also a writer. But didn't tell Brian where to find the instructions.
Brian searched everywhere and refused to write more Dune without his father's instructions.
After a fruitless decade he was contacted by a bank manager asking anyone was going to ever claim Frank Herbert's safety deposit box. Brian obviously didn't have the key and was allowed to open it.
And yes the series timeline was in the box and Brian began writing the new Dune books
"More importantly, mickey thought 8-4 was two games over .500. Argued about it. C'mon, man. Nothing can top that for math expertise. If GWAE ever has you on again, you can be sure I'll be calling in with that gem.'Nuff said." REDIETZ
Access to the box varies state to state and even bank to bank.One big question. Was income tax paid on the winnings? If not, pay the tax and open a bank account in the name of his newly created trust. Assets owned by a trust are exempt from probate (and judges). He can make whatever provision for the girl that he desires.
A big problem seems to be who would he name as trustee after himself. If family and friends are not trustworthy, his attorney or the bank can be named. Fees for either would be high.
If taxes were paid there is no problem removing the cash from the box and putting it in a bank.
It is official. Redietz will never be on Dan Druff's podcast. "too much integrity"
Naw. That is part of the problem.- He is so anti-taxes that he doesn't really seem to see it in real numbers or particularly rational..
The most reasonable way to do it is get the cash out, deposit it, . (do banks just take 350k on a 1 shot ?) .. then form a trust with the right people overseeing it. But... not everyone thinks in a rational way, yanno?
I'm just kinda throwing it out there to see what people say.
I should ask him if he has a will. (or living will? Not sure what that is...)
It is official. Redietz will never be on Dan Druff's podcast. "too much integrity"
You should have mentioned earlier that the Daughter is STILL a little kid, and not an Adult yet which makes a big difference. When I saw you mention a Daughter, I thought something along the lines of,"If Daughter is an ADULT, there should be no problem with Daughter getting the will money. But if she's a MINOR, that poses problems. Dad has to entrust Trustees that will watch the money for her until she's at least 18 because most rules and regulations won't allow a Minor to get will money directly. Some rules and regulations state the Will beneficiary has to be a full adult, age 21, because at 18 you are just a legal adult, and still not a fully grown adult yet, a prime example is that at 18 you can't legally gamble in a Casino, smoke, or drink alcohol, but at 21 you can. So many rules and regulations might state that the 9 year old Daughter won't be able to directly get the will money until 2035.
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Take comfort in the fact that no one is actually backing up his wishes to have you permanantly banned.
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