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How much an attorney charge to claim lottery prize $25 Mil?

Topic closed. 18 replies. Last post 6 years ago by JWBlue.

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dingo's avatar - lottery of-birth.jpg
San Jose, California
United States
Member #42003
June 26, 2006
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Posted: January 9, 2009, 12:42 am - IP Logged

Have anyone ever known how much an attorney would charge to claim a lottery prize like $25 millions or even $350 millions?

 

would it be outrageous if the fee is in percentage of the prize like 3%?

 

    guesser's avatar - Lottery-017.jpg

    United States
    Member #41383
    June 16, 2006
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    Posted: January 9, 2009, 1:29 am - IP Logged

    Have anyone ever known how much an attorney would charge to claim a lottery prize like $25 millions or even $350 millions?

     

    would it be outrageous if the fee is in percentage of the prize like 3%?

    It's like everything else in why or how you hire an Attorney - it all depends on how good they are, based on what you want them to do...

      Todd's avatar - Cylon 2.gif
      Chief Bottle Washer
      New Jersey
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      Posted: January 9, 2009, 8:29 am - IP Logged

      Have anyone ever known how much an attorney would charge to claim a lottery prize like $25 millions or even $350 millions?

       

      would it be outrageous if the fee is in percentage of the prize like 3%?

      It's not the kind of thing that an attorney would/should charge a percentage for.  Let's put it this way: if you paid an attorney a percentage of the jackpot, you'd be suckered.

      Attorneys do work like this on an hourly rate.  When you first hire them they should tell you what the hourly rate is.  It will probably be $250 or greater for a good attorney. 

      Then, when you sign the agreement to hire them, you pay a retainer, which is bascally a down payment on a certain number of hours.  Once you eat up the retainer they normally will send bills monthly for the hours worked that month.

      A percentage payment to an attorney is done in cases where you are seeking compensation for something through a lawsuit.  For the attorney, they tend to only take cases like that when they think the chances are good that you'll get something.

       

      Check the State Lottery Report Card
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      Sign the Petition for True Lottery Drawings
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        Scott311's avatar - 311 logo01.jpg
        N.C.
        United States
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        March 9, 2008
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        Posted: January 9, 2009, 8:33 am - IP Logged

        It's not the kind of thing that an attorney would/should charge a percentage for.  Let's put it this way: if you paid an attorney a percentage of the jackpot, you'd be suckered.

        Attorneys do work like this on an hourly rate.  When you first hire them they should tell you what the hourly rate is.  It will probably be $250 or greater for a good attorney. 

        Then, when you sign the agreement to hire them, you pay a retainer, which is bascally a down payment on a certain number of hours.  Once you eat up the retainer they normally will send bills monthly for the hours worked that month.

        A percentage payment to an attorney is done in cases where you are seeking compensation for something through a lawsuit.  For the attorney, they tend to only take cases like that when they think the chances are good that you'll get something.

        I bet Todd is an attorney

          Todd's avatar - Cylon 2.gif
          Chief Bottle Washer
          New Jersey
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          Posted: January 9, 2009, 9:02 am - IP Logged

          I bet Todd is an attorney

          Nope.

           

          Check the State Lottery Report Card
          What grade did your lottery earn?

           

          Sign the Petition for True Lottery Drawings
          Help eliminate computerized drawings!

            Omniscient's avatar - Lottery-017.jpg
            Florida
            United States
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            September 14, 2006
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            Posted: January 9, 2009, 9:03 am - IP Logged

             

            Here are your lottery billable rates! (attorney watches) ! ROFL

             See full size image                                               

             Don't Play more, Play Smarter!

              tnlottodreamer's avatar - lighthouse
              After the Win GATLINBURG,TN
              United States
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              March 31, 2008
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              Posted: January 9, 2009, 10:22 am - IP Logged

              Todd your right again, Why would you pay an attonery to claim money that is already yours .Pay them by the hour or take along some KY jelly with you cause anyone who pays an attonery a percent is crazy . especially when the jackpots get above say 120 million thats like 3.6 million for the attonery  nonononono they already make too much now

              I Agree!*** You Can't Win, If You Don't Enter***

                DC81's avatar - batman39
                MI
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                August 31, 2007
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                Posted: January 9, 2009, 3:14 pm - IP Logged

                IMO you shouldn't even tell the attorney that you won until after you get what their rates are and everything else to where they don't know until they're officially working for you.

                You can't predict random.

                  justxploring's avatar - villiarna
                  Wandering Aimlessly
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                  Posted: January 9, 2009, 3:55 pm - IP Logged

                  IMO you shouldn't even tell the attorney that you won until after you get what their rates are and everything else to where they don't know until they're officially working for you.

                  Todd is correct IMO. 

                  @ DC81 -  Attorney fees don't work that way.  I understand your point of view, since many people jack up the price after they know a person has money.  When I worked in retail stores, I often saw salespeople target people who appear to be rich.  However, you need to sit down with the attorney to establish why you are seeking his or her services.  It's not like calling up a salon and asking "How much is a shampoo & cut?"  Also, a reputable attorney would not be "officially working for you" until he/she knows why you called in the first place.  Attorneys specialize, so you wouldn't call a tax attorney if you had a DUI.  There are those one-size-fits all law offices, but I know what the results can be when you bargain hunt for an attorney, and it's just not worth it.

                    dingo's avatar - lottery of-birth.jpg
                    San Jose, California
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                    Posted: January 9, 2009, 7:24 pm - IP Logged

                    Thank you all for your explanations.

                     

                    Hey Omniscient,

                    I like those watches.Jester They'll fit attorneys well.

                     

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                      NY
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                      Posted: January 10, 2009, 1:49 am - IP Logged

                      What do you mean by "claim"? I'm assuming you're thinking about more than just strolling in to lottery HQ to hand over some paperwork and collect a check. For some services I expect some would want a percentage, or at least a fee that was somehow related to the size of the jackpot.

                      About 10 years ago a group won a PB jackpot of almost 300 million, and hired an attorney to handle things for them. He was able to keep them  anonymous, but his name got publicized in connection with the win. Many of the people here would prefer to remain anonymous because they're worried that  people would bother them. Do you suppose many of those people might bother the attorney instead, if that was the name that was readily available? I don't remember many details, but I remember that the lawyer fielded a lot of "offers" for them, including somebody who wanted to make a documentary about them, with the winners fronting the money, of course. Some of the work would be the same for a $1 million jackpot or for $300 million, but I would assume the hassles would be somewhat related to the size of the jackpot. If it's going to mean more work, you should expect to pay more.

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                        San Diego, CA
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                        Posted: January 10, 2009, 3:18 pm - IP Logged

                        F*ck attorneys.

                         

                        The least expensive way to claim a jackpot annonymously is to create a 'recovable living trust' with a software program like "Quicken® WillMaker Plus 2009" (step by step instructions, they say it is easy).  Then just go in to the lottery office yourself (or have a friend do it) and claim the jackpot on behalf of the trust. 

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                          New Member
                          Philadelphia, PA
                          United States
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                          September 23, 2008
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                          Posted: January 10, 2009, 4:49 pm - IP Logged

                          F*ck attorneys.

                           

                          The least expensive way to claim a jackpot annonymously is to create a 'recovable living trust' with a software program like "Quicken® WillMaker Plus 2009" (step by step instructions, they say it is easy).  Then just go in to the lottery office yourself (or have a friend do it) and claim the jackpot on behalf of the trust. 

                          Is it "public record" who runs the trust? Would it be as simple as someone looking up this information to find out who the person is behind the trust?

                            BuyLow's avatar - palm tree.jpg
                            Florida
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                            Posted: January 10, 2009, 7:58 pm - IP Logged

                            If you win a $25 mil jackpot it would be benefit you to find an attorney who has dealt with lottery winners before.  That way they know what they are doing.  Furthermore, you get what you pay for and buyer beware. Wink

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                              San Diego, CA
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                              Posted: January 10, 2009, 8:46 pm - IP Logged

                              Is it "public record" who runs the trust? Would it be as simple as someone looking up this information to find out who the person is behind the trust?

                              Probably is.  But they won't find out who owns the trust.