Kansas man claims state's largest Powerball lottery jackpot one day after winningPrevious TopicNext Topic

Why wait, he has reached three score and ten!  I hope he chose the lump sum option.  Enjoy and congrats!

He did choose it, check out the story.  I think most people say to wait long enough to get your financial situation in order, then claim the prize.

Even the Lottery recommends doing that.  Of course, anyone is free to do what they wish, but it does help to do a bit of planning first.

I understand you just sign what papers you need to sign when you go to the lottery office then I read you have to wait 2 weeks after that to get your money..You got 2 weeks to get a lawyer and whatever..He's 71...I'm almost his age and know what he's thinking..Get it and have a ball as soon as possible..Good for him and his family..

He had the choice of a 30 year annuity....

I don't think so!

Sure, collect his last check @ 100!

MarkP

With the exception of with holding taxes, the validation process isn't much different than cashing a $5000 pick-4 straight ticket. I can understand why someone who wanted to form a trust, a limited partnership, or have any other reason like remaining anonymous would wait until their lawyer made sure all the "T's" were crossed and all the "I's" were dotted. And I can understand why someone else would want to get the process started as quickly as possible.

It's all a matter of personal preference, the ticket was validated, and Donald Damon was declared the winner. There will be many opinions on what "they would have done" or "what he should have done", but at the end of the day, it's Damon's name on the check.

I'm just happy for the winner.

I don't get having to wait to claim a prize ?!?!?!

I think about my finances each day, I don't need to wait to claim a prize in order to make wise decisions !

If you are destined to make bad decisions, you will make them no matter how long you take to claim a prize.

Of course many people make it their business to tell others how to manage their affairs, I will do it my way without help from self proclaimed experts !

I already have advisors anyway !!!!!!!

Todd, he didn't even know how much he had won.  That leads me to believe he really didn't know what to do other than claim the prize.  This is a problem for a lot of players.  With that said...  If I ever won a jackpot I too would claim the prize soon.  Mainly because I don't trust a lot of people when it comes to money.  That doesn't mean I wouldn't do a little research first.

Stacker47, I agree with your version. The priliminary claim is to validate and decide how to slice the moola (annuity verses cash). In PA its 6-8 weeks before the money hits the bank ( that includes the ten days it sits in your account to be audited by the bank) . In researching the states average time- 2 weeks has yet to be the factual. Minimum of 4 is what is said when I've inquired for different states.

ITs true at the end of the day, its the claimers choice and no one elses ( except Uncle Sam.liens,judgments,support, fines, etc)

Amazing it was a 1$ QP! I'm in awe.

I just noticed something...ironic...sorta...

Go on Google Maps, put in this (is near where the ticket was sold):

Congratulations to the winner!

I would have that look on my face also if I was his wife.  How could he make the decision to claim a jackpot and not have his wife with him, even if it was the next day.  Also, the daughter, I didn't see her age but I guest like father, like daughter........ unbelievable.

The problem with that theory is that once you filll out the paperwork, that's who the check will be made out.......it's too late at that point to claim in a trust, you already made that decision to claim as an individaul.  Sure you can fund a trust or LLC later but that's not usually the point of claiming in a trust.  JMO........

The point you're missing is Damon didn't want to use a trust or LLC so he had the ticket validated and a check will be made out in his name.

Congratulations to the winner and for the Love of God please do NOT look across the street from where the ticket was sold!

I think people wait to claim the prize because they know it will have severe effect on their relations with everyone, friend, family, people they don't even know yet, and they have to think about how they will respond when they all come asking for money. It may be even a bit scary to approach the Store (don't look back!!!) knowing there may be a mob waiting so they want the beehive to quiet down a little first. Me? I'd head for Lawrenceville (been there) on a day off with nice weather. I'd not wait around too long though; it's a delicate little piece of paper (especially the new tickets in nj, they fall apart easily) and it belongs in nice strong gold boullion.

but having an annuity unil you are 100 years old sure is an incentive to stay alive till 100 to collect em all.

When you get his age,and I am almost there,get the money put it in the bank and go nuts..If your young and have many days ahead of you use your brains but if you have a lot more days behind you you can go nuts..I'm almost his age and almost nuts now I need the money..simple..