I think "tribute car" is the key phrase here. On Sunday, November 19, 2017, Philip Rankin <[email protected]> wrote:
> Chuck, I can’t answer your real question. Sorry. But I am a car collector > and depending on the configuration of tha Superbird, it may be worth in > excess of $250K. Quite possibly over $1M. Please be very careful there. It > could be possible that you’re worrying about the wrong funding scourge! > > > > > On Sat, Nov 18, 2017 at 6:54 PM <[email protected] > <javascript:_e(%7B%7D,'cvml','[email protected]');>> wrote: > >> I am sure each state has its own rules. Thanks for asking. I send a >> query to my tax lawyer and my estate lawyer. >> I hope he has not already formally taken possession. >> >> *From:* Steve Jones >> *Sent:* Saturday, November 18, 2017 5:48 PM >> *To:* [email protected] >> *Subject:* Re: [AFMUG] OT Quandry >> I just got off with my mother, she doesnt remember the specific name. >> This is in illinois so may be different. Its was a pretty big chunk. >> Mom stressed though to get to an artorney yesterday. The trust had to be >> established before formally taking possesion of the money. It had to go >> directly to the trust. >> Had she just cashed the check into an account while setting things up it >> would have made her ineligible for further aid. This was around 70k, but >> would have made it virtually impossible to get back on the aid. >> Id say get with an attorney before the shipping is arranged, that may >> constitute taking possession of the award and be too late. >> >> Hers was not a prize award, it was an aggregat of payments she was >> supposed to be recieving while her pos father was alive, when he died the >> government made retroactive payments. So it may not be the same scenario. >> >> I can give you offlist name of the law firm here in illinois if you want >> >> >> On Nov 18, 2017 6:28 PM, <[email protected]> wrote: >> >> If there is any chance you could come up with the type or name of the >> trust it could be helpful. >> >> *From:* Steve Jones >> *Sent:* Saturday, November 18, 2017 3:59 PM >> *To:* [email protected] >> *Subject:* Re: [AFMUG] OT Quandry >> >> My sister lives in a group home, same scenario, funding fully from >> programs. She had a substantial windfal when her pos dad died. Went through >> a lawyer and got the money into a specific type of trust, its usable as she >> sees fit, but upon her death the government gets any remaining funds. Its a >> fairly common setup, but you really need a lawyer to handle it, there are >> alot of Is and Ts any one of which not being correct can cause ineligibilty >> for aid >> >> If he has the option to take cash value on the prize it would probably be >> easier to swing. >> >> On Nov 18, 2017 3:28 PM, "Chuck McCown" <[email protected]> wrote: >> >> My nephew is mostly bed bound. Quad due to spinal fracture about 25 >> years ago (he is 54 I think). Has almost 100% hand functionality. >> I have no idea how many government programs support him. He can use a >> wheelchair and I bought him a wheelchair van years ago but he really is not >> healthy enough to use it. >> >> So, today he won Richard Petty’s Superbird. >> >> http://www.wintheking.com/rules/ >> >> His sister and her son went back for the drawing. One of those things >> where you pick and key and everyone gets in the car and tries to start it. >> >> No idea how much this thing is worth but plenty. >> >> I wonder if my nephew is going to lose his financial support from the >> government due to this win? >> I am sure he is going to have to pay taxes so I am also sure he will have >> to immediately sell it. >> >> Anyone know how welfare works for folks that are 100% disabled and then >> get a windfall? >> >> I really don’t want to ask him about this. Especially today as I am sure >> he is pretty excited. So not gonna be his debbie downer. >> But having significant IRS issues myself in years past, I immediately >> start worrying about this kind of thing. >> >> >> >> >> > -- > Philip J. Rankin > Wireless Telecommunications Services > PO Box 24 > Pittsburg, KS 66762 >
