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rundown99

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Sep 8, 2008, 3:47 am

http://www.youtube.com/watch?v=CMDKs_CZGMs

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!

People can talk about strategies and gimmicks all they want, but unless your ticket actually matches at least 5 of those 6 balls, you are just another person who tried to win a game yet ultimately failed.
Kaptainess

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Sep 8, 2008, 5:31 am

Good idea, I can think of a lot of things that can crop up.... Like some jerk taking you to court saying you would share half of the pot. It has happened.

I'm not worried about relatives, they know they can go to hell.

When I hit big I'll just gather up the most important things I can grab and put in a suitcase, check into the best hotel in the city and call my lawyer. Oh, and keep the ticket on my person at all times. AND remember to sign that dern ticket as soon as you find out that you have won.

Get the dough and never stop traveling around the world for the rest of my life!
JackpotWanna

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Sep 8, 2008, 8:02 am

Some state does not allow that option. I do like the hotel and travel idea.

Give 12 grand to each family member. Nothing more.
savagegoose

adelaide sa
Australia
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Sep 8, 2008, 8:47 am

annonymous is an option to claiming here in oz, but that said a radio station did get the identity of 1 big winner.

we have a box at back of ticket where we can put our name NFP [_] not for publication, so ill say ill take annonymous

" Still swinging, still missing "
2014 = -1016; 2015= -1409; 2016 = -1171; 2017 = -1257 ; 2018 = - 1380 = TOT = - 6233

keno historic = -2291 ; 2015= -603; 2016= -424; 2017 =-427; 2018= -223 TOT = -3968

:
konane

USA
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Sep 8, 2008, 9:10 am

If it bleeds it leads ..... press follows someone 'out there' like Jack waiting for an attention grabbing headline, with an undertone that (Huge Amount of) money is evil ... unless they can tell someone how to use it. Opinions are like other things all of us have but opinions are not hard facts.

In the case of one British lottery winner the press had sniping remarks about how she dressed, her weight, her everyday actions apparently hoping to provoke a headline reaction on her part.

Have fun and the best of luck to everyone!
grengrad

Raleigh
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Sep 8, 2008, 9:57 am

I would love to remain anonymous, but the problem was poor decision making as much or more than anything else.

$2,000 a week and 4 cars to a 17 year old?

I can almost get my head around 4 cars, but what on earth is a 17 year old going to buy with $2,000 a week?

He is an adult and should have taught her responsibility.

For example: Oh, you want a corvette now, instead of that pickup. Okay, honey, but you only get 1 car, so we can trade the pickup in towards a corvette, or you can keep the pickup.

I feel bad for Jack. He is a cautionary tale of why we should put checks and balances on ourselves and those we care about, even if we or they do not like it.
JackpotWanna

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Sep 8, 2008, 10:25 am

Instead of giving her $2 grand a week he could have hired 2 body guards and a personal nanny to watch over her. Forget the 4 cars.
AlecWest

Vader, Washington
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Sep 8, 2008, 12:48 pm

Quote: Originally posted by JackpotWanna on Sep 8, 2008
Some state does not allow that option. I do like the hotel and travel idea.

Give 12 grand to each family member. Nothing more.

State lottery law on anonimity concerns varies widely from one state to another. Kansas, for example, has a law "mandating" anonimity of winners unless they sign a release form. Washington and other states allow attorneys acting as trustees of blind trusts to claim the money. Oregon and other states require that ticket redemption be performed by a "natural person" (meaning no trusts). Other states require you submit to a photo shoot ... still others require you submit to a press conference. One state (Illinois, I think) requires you to sign an affidavit agreeing to an "ongoing" public relations role. In short, 3 years after you win, they could call you on the phone and require you to come in to "do an ad" for them (kinda like Publishers Clearinghouse).

But, even in states where attorneys can act as a trustee of a blind trust, your identity can still be revealed if their state "open records" laws require it (and someone files a disclosure request form). Kansas is the exception ... and has made lottery winners exempt from open records laws.

The good news? Even with open records laws, the state cannot give out any information other that what they'd normally be required to provide. In most states, that's (1) your name, (2) your city/state of residence, (3) the amount of the jackpot, and (4) the name/address of the retailer who sold the ticket.

The solution to this problem? Assuming your state doesn't require photo shoots or press conferences, do a legal name-change BEFORE redeeming the ticket. Then afterward, change your name back. Media hounds and others will be looking for a person who only exists on paper (grin).

Then, AFTER winning, put the money into a blind trust. State open records laws may require that information on state money being paid "directly" to a trust is public domain info ... but information on blind trusts in general is not subject to those laws (without a court-order ... and a legal reason for requiring the info).

One note on blind trusts. Every trust requires a "legal name." But the name can be completely serendipitous and unrevealing. For example, I could name a trust the Beaufort Family Benevolent Trust. My name doesn't have to be "Beaufort" nor does the trust have to represent the interests of a "family" - it only requires a name be associated with it.

That's pretty much what I'd do with winnings ... gifting charities, relatives and friends FROM the trust without revealing that I'm the real benefactor. Hehehe, I'd even have the trustee/attorney cut a check to ME. Then, if friends or relatives mentioned their own good fortune to me, I could show them a photocopy of my own check and say, "By golly, I got a check from the Beaufort Family Benevolent Trust myself! Any idea who they are???" Sneaky, huh (grin).

In any case, there's no way I'd want ANYBODY to know about it if I won a lottery jackpot ... except perhaps my banker, my attorney, and the IRS.

Regards -- J. Alec West
AlecWest

Vader, Washington
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Sep 8, 2008, 1:59 pm

Quote: Originally posted by rundown99 on Sep 8, 2008
http://www.youtube.com/watch?v=CMDKs_CZGMs

That is a great cautionary tale. Generosity does not equal love. Frankly, I think the old geezer was just trying to "impress" his granddaughter. If I had been in his situation, the first thing I'd have done is keep my mouth shut. In West Virginia, they allow ticket redemption by Registered Mail - a clear sign that the state does not require either a photo shoot or press conference. And, as I understand it, multi-state lotteries allow member states to make the rules regarding anonimity.

In short, the old geezer (Jack Whittaker), blew it from the get-go ... voluntarily agreeing to make a public spectacle of himself. Perhaps he thought he'd be immune from the publicity seeing as how he was already a multimillionaire businessman ($117 million, net worth) prior to winning. He thought wrong.

Giving what he gave to his 17-year-old granddaughter is about the stupidest thing I've ever heard of. I suppose he thought, since he was already wealthy and could handle his wealth, that his granddaughter would do likewise. Again, he thought wrong.

Had it been me, I'd have told her that out of my own wealth (lottery unmentioned), I'd set up a trust fund that would pay for her complete college education - in any institution she wished to attend - up to and including Masters and Doctorate work - as well as medical school or law school if she wished. I'd also include a liberal but "reasonable" monthly allowance to cover personal expenses. Only AFTER she'd proven herself to be a responsible adult (and after graduating from college) would I even "hint" that I'd give her more.

Regards -- J. Alec West
psykomo

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May 30, 2004
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Sep 8, 2008, 5:16 pm

Quote: Originally posted by JackpotWanna on Sep 8, 2008
Instead of giving her $2 grand a week he could have hired 2 body guards and a personal nanny to watch over her. Forget the 4 cars.

BY now>>>>it may B too late 4-me <<<<<<<<<<<<<<<<<<<<<<<<<<<<<<<!!!!!

MOST people on the POST know's who PSYKOMO>>>>>>>>>>>>>>>>>>>>>>IS!!

MOST people WON't tell until PSYKOMO "HIT'sssssss A BIG JACKPOT$$$

that is what>>>>>>>>>>>>>>>>>"FRIEND's ARE FOR" $$$$$$$$$

LOL

PSYKOMO
grengrad

Raleigh
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Sep 8, 2008, 6:31 pm

AlecWest

Your posts are a breath of fresh air.
four4me

MD
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Sep 8, 2008, 11:49 pm

I hope when people win they don't base there win on what happened to the down trodden people who carried on or acted foolishly with the new found fortune.

Each of us has his her own personality and that personality will be greatly exaggerated should you win. People who are calm, cool and collected will probably remain as cool as is if not cooler. People who are extroverted will probably act up more than ever.

Winning millions of dollars is is a life altering experience and many can handle it and some cannot.

Just make sure if you should win that you take precautionary steps to preserve your sanity.

Big John says. You don't hit the number. The number hits you!!!!

I'm not Big John, I'm Four4me, Big John's a friend.
DC81

MI
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Sep 9, 2008, 12:22 am

Jack was a good ol'boy so he couldn't just go quietly, he had to make a spectacle of himself and I've found his regretting winning the jackpot and wishing he tore up to just be disingenuous seeing how if the lottery "ruins" your life, would you play it ever again? Jack did and won another 10 grand. Then again, he supposedly went broke due to lawsuits and claimed that thieves broke into multiple accounts of his at the same time and drained his funds while in court over his grand daughter's boyfriend's wrongful death suit, somehow an event with such a huge security breach evaded the media. It's just a way to pass blame to an inanimate object and not taking true responsibility for ones actions. I'm fairly sure the lottery win didn't force Jack to drive around with hundreds of thousands of dollars in a car so they could be broken into... Twice. Or go to strip clubs, or drive drunk or run into problems in Atlantic city and so on.

I've looked and I'm sure they do, but Michigan does allow a trust to claim a jackpot right? With the only person that needs to show up being the representative or trustee? I think that's what I read awhile back... Just that no one here has enough sense to do that if they win a MM jackpot. State games allow anonymity though.

You can't predict random.
AlecWest

Vader, Washington
United States
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January 5, 2006
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Sep 9, 2008, 1:04 pm

DC81,

You raise a VERY good point. Michigan does allow winners of $10K or more to remain anonymous if they win an in-state game. Michigan rules for MegaMillions differ, however. But if you win a MegaMillions jackpot (grin), this is one of those situations where you could do a legal name change BEFORE redeeming your ticket ... then change your name back afterward.

It's sad - but I've heard horror stories about winners who had to change their names after winning to escape salespersons, charities, con-artists, relatives, "former" friends, etc. And every time I hear such a story, I want to reach out to them and say, "You stupid idiot! Why didn't you change your name FIRST ... then redeem the jackpot ... and then change your name back?" That way, everybody would be looking for a person who will only exist on paper "temporarily."

Name changes are dirt cheap in most states. And the laws/forms are so uncomplicated that many people do their own name changes WITHOUT a lawyer. I did ... back in 1992 ... to change my name from my adopted name back to my birth name (long story).

Now ... I'm going to give web addresses to get a free name-change form (should be good in all jurisdictions and all states) and an example form (filled out with made-up names and info). This is the form I used myself.

However ...

Because I'm still considered a "newcomer" in this forum (ahem ahem - check my member date), they won 't allow me to post an actual "link" ... so you'll have to extrapolate these links:

Free Blank Name-Change Form

LuckyYou-dot-atspace-dot-com/generic-dot-pdf

Sample Name-Change Form (filled out with made up names/info)

LuckyYou-dot-atspace-dot-com/example-dot-gif

Regards -- J. Alec West
DC81

MI
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August 31, 2007
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Sep 9, 2008, 6:58 pm

I dunno, I think having a blind trust set up would still be a better option for claiming. Now, you could change your name and still be the trustee to claim it (with a disguise since they will probably want a picture) and then just change it back but wouldn't all that be public record? As well as if you don't have a trust claim it, have to notify the lottery of the name change? Or are you just a number to them after winning? You'd probably want to set up a PO box with your new name too, probably in another town to help ensure no one you might know will find out, including postal workers.

Of course there's the upside of not having to deal with a lawyer as much. But I'd much rather just leave my name or even an alias out of the paper. Hopefully without getting over charged for the lawyer's services. My main goal, as I've said before is to have my identity be kept out of the press release which will not only be put in every major (for a big win anyway) and local newspapers as well, though at least when it comes to that, the name and what I would look like would be quickly forgotten as long as I don't be an idiot and make a spectacle out of myself. The bigger issue to me is that not only will the press release be in the papers but it will be all over the internet as well and once it's online it'll pretty much always be there for anyone to find by just typing your name into a search engine. Changing your name would certainly help reduce that unless the media decides for some reason to keep paying attention to you, which they probably won't do, unless maybe, you win a record breaking amount, at least you could still claim as a blind trust in some states anyway.

By some here it's looked down on but a tiny bit of paranoia/caution isn't exactly a bad thing in my opinion.

You can't predict random.