Welcome Guest
Log In | Register )
The time is now 11:54 am
You last visited August 1, 2014, 11:54 am
All times shown are
Eastern Time (GMT-5:00)

Oklahoma Powerball lottery winner claims prize

PowerballPowerball: Oklahoma Powerball lottery winner claims prize

Two men representing a trust claimed the $101.8 million Powerball jackpot from the Oklahoma Lottery Commission, lottery officials announced Wednesday.

The WJW Investment Trust will receive a lump-sum cash payment of $32.8 million after taxes. The winning ticket was purchased at a Broken Arrow convenience store on June 17. Indiana also sells the tickets.

Trustee Richard Barlow and the trust's attorney, David Walls, presented the winning ticket to the Lottery Commission on Tuesday, said Jay Finks, a spokesman for the Oklahoma Lottery Commission.

In a statement released by the trust, the beneficiaries said the trust was created to maintain their privacy and to help invest and manage the proceeds.

"They wish to deal with the funds in a prudent manner in accordance with their own desires, values, and standards," the statement read.

"We are proof that you never know when you might win and you cannot win unless you play," the beneficiaries are quoted as saying.

Jim Scroggins, executive director of the Oklahoma Lottery, said lottery officials were growing concerned that the winning ticket may have been lost.

"That fear has now been put to rest, and it's great to know that the trust and the state of Oklahoma each will benefit as a result," Scroggins said.

Oklahoma will receive more than $1.8 million in state taxes. The federal taxes on the jackpot totaled $11.5 million.

The current Powerball jackpot is $178 million.  The drawing is tonight at 11:00 PM Eastern Time.

AP

We'd love to see your comments here!  Register for a FREE membership — it takes just a few moments — and you'll be able to post comments here and on any of our forums. If you're already a member, you can Log In to post a comment.

9 comments. Last comment 8 years ago by Just6ntlc.
Page 1 of 1

United States
Member #379
June 5, 2002
11296 Posts
Offline
Posted: August 2, 2006, 1:19 pm - IP Logged

It's especially good to hear of a state's first jackpot winner choosing lump sum. More so if the annuity value is nine figures.

    rundown99's avatar - cigar

    United States
    Member #567
    August 14, 2002
    457 Posts
    Offline
    Posted: August 2, 2006, 1:51 pm - IP Logged

    Wait a minute!!!

     

    Does this mean that Oklahoma lottery winners can remain anonymous with the help of a trust?

    Smart lottery winners form trust to claim their winnings.  They send an attorney to the lottery headquarters to claim the prize in trust, so that ONLY the name of the trust is revealed.  And they tell NO ONE, especially relatives.

    If you ever win a lottery and you are single, the only person you should ever marry is someone who was truly in love with you BEFORE you won the jackpot!

      RJOh's avatar - chipmunk
      mid-Ohio
      United States
      Member #9
      March 24, 2001
      17741 Posts
      Offline
      Posted: August 2, 2006, 2:07 pm - IP Logged

      For someone who wanted to maintain their privacy, those beneficiaries released a lot of statements to be read on their behalf.  If they say that much privately, then it's likely their friends and neighbors know who they are.

      * you don't need more tickets * 
      * just the right ticket * 
         Wink 

        justxploring's avatar - villiarna
        Wandering Aimlessly
        United States
        Member #25360
        November 5, 2005
        4457 Posts
        Offline
        Posted: August 2, 2006, 2:28 pm - IP Logged

        I agree with both of you. The article seems to indicate that a Trust will protect the names of the winners. In FL I've seen jackpots claimed in a Trust, but the names of the winners are still printed in the news release.  However, as RJOh writes, these people need to be careful and button their lips if they want to keep their secret hidden from neighbors and relatives. Still, not announcing the names in the paper is a great help and, if I ever win a jackpot, that would certainly save me a lot of aggravation.

          Avatar
          Coastal Georgia
          United States
          Member #2653
          October 30, 2003
          1866 Posts
          Offline
          Posted: August 2, 2006, 3:30 pm - IP Logged

          I guess all the worrywarts can just go find something else to worry about now..

          I remember seeing headlines wondering who won and when the winners would come forward.

          Not everyone goes running down to the Lottery HQ the first business day after the win- some people, like the above,  are SMARTer than that...

           

          DD

           

                                         

                        

           

           

            justxploring's avatar - villiarna
            Wandering Aimlessly
            United States
            Member #25360
            November 5, 2005
            4457 Posts
            Offline
            Posted: August 2, 2006, 5:02 pm - IP Logged

            I Agree!

            So many times I read on the FL site that "Joe Brown, an 82 year old retired machinist" or "Sally Johnson, a 78 year old retired secretary" won amulti-million $$ jackpot.  It will go on to say they plan to share some of their good fortune with their children and grandchildren.  I'm not an attorney, but the little I know about gift & estate tells me it makes more sense to either form a Trust, LLC or just let one of your children or grandchildren claim the prize when your that age.

            Yikes, another bad storm...bye 4 now!  

              bellyache's avatar - 64x64a9wg

              United States
              Member #12618
              March 18, 2005
              2060 Posts
              Offline
              Posted: August 2, 2006, 5:06 pm - IP Logged

              I also agree. I think it was a good idea for them to take their time and not go rushing in. I never understood why people have this need for others to come forward right away.

              Dance like no one is watching.

                Kidzmom's avatar - cold
                NC
                United States
                Member #11741
                February 23, 2005
                1232 Posts
                Offline
                Posted: August 2, 2006, 5:25 pm - IP Logged

                I think people will claim their prize in their own time depending on their personal circumstances.  My financial planner is a relative and my  lawyer is a relative also , so I will be really good on that end when I win the lottery.  I just feel that if you've been financially planning for years for retirement then you should  have no problem with a large sum of money should it happen. Retirement for me is basically 30yrs off so either way I am planning.  I would more than likely claim my money within a week or two of winning based solely on what I've already been doing in life.


                  United States
                  Member #16612
                  June 2, 2005
                  3493 Posts
                  Offline
                  Posted: August 3, 2006, 11:40 pm - IP Logged

                  Good for them taking cash value. This is a great story.