Alabama United States
Member #125,059
March 24, 2012
210 Posts
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It seems kind of crazy that they only waited less than 24 hours to claim this money.Planning is key before you can even begin to take the check .My first question would be how can we get away with this money and not have my name in the public eye.Second what are my options to put this money to work .Third question how much to retain you guys for future litigation purposes .Fourth wheres a jet to take me out of the country.
Bahamas
Member #133,456
September 30, 2012
7,146 Posts
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Attornies and Financial Planners treated their requests as prank calls and hung up the phone. So they decided to claim and make a big splash and have the clowns hunt them down.
Those thieves must be kicking themselves right about now.
"Do everything you can. Then, leave the rest to luck."
Nutley, New Jersey United States
Member #131,052
August 1, 2012
904 Posts
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Quote: Originally posted by bigboy90000 on Nov 30, 2012
It seems kind of crazy that they only waited less than 24 hours to claim this money.Planning is key before you can even begin to take the check .My first question would be how can we get away with this money and not have my name in the public eye.Second what are my options to put this money to work .Third question how much to retain you guys for future litigation purposes .Fourth wheres a jet to take me out of the country.
I already know the laws in my state about public disclosure. The lottery commission is obligated by law to release the name of the jackpot winner but attending a press conference is a choice. If I win, I'm claiming as soon as possible and I'll skip the press conference.
People will know your name but not your face. If you have a common enough name like Dave Smith, you can just tell people you are not Dave Smith the lottery winner, that is some other Dave Smith.
As far as putting the money to work, it takes about 4 to 6 weeks for the lottery commission to wire the money to your bank account. I'd claim the day after the drawing. Then I'd use the next 4 to 6 weeks to talk to financial advisors and lawyers.
I don't see any advantage in delaying the claims process whatsoever unless you bought the ticket in one of the very few states that allows anonymity.
Snohomish, WA United States
Member #135,228
November 19, 2012
29 Posts
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Quote: Originally posted by whiteballz on Nov 30, 2012
I already know the laws in my state about public disclosure. The lottery commission is obligated by law to release the name of the jackpot winner but attending a press conference is a choice. If I win, I'm claiming as soon as possible and I'll skip the press conference.
People will know your name but not your face. If you have a common enough name like Dave Smith, you can just tell people you are not Dave Smith the lottery winner, that is some other Dave Smith.
As far as putting the money to work, it takes about 4 to 6 weeks for the lottery commission to wire the money to your bank account. I'd claim the day after the drawing. Then I'd use the next 4 to 6 weeks to talk to financial advisors and lawyers.
I don't see any advantage in delaying the claims process whatsoever unless you bought the ticket in one of the very few states that allows anonymity.
Well my assumption would be taxes. For instance I assume that claiming as a company (LLC or what have you) you would have to pay less money than an individual to redistribute the money to loved ones and charities etc.
Whereas if you claim as John Smith then want to give your parents money you're bound by the "Gift" tax and other things. I'm pretty sure to move the money from an individual to the set company would cause more taxes to be taken out as well.
I've never contacted a lawyer and asked specially but it makes sense from what I've read and what I know of the law and government taxes.
Nutley, New Jersey United States
Member #131,052
August 1, 2012
904 Posts
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Quote: Originally posted by WaLottoDude on Nov 30, 2012
Well my assumption would be taxes. For instance I assume that claiming as a company (LLC or what have you) you would have to pay less money than an individual to redistribute the money to loved ones and charities etc.
Whereas if you claim as John Smith then want to give your parents money you're bound by the "Gift" tax and other things. I'm pretty sure to move the money from an individual to the set company would cause more taxes to be taken out as well.
I've never contacted a lawyer and asked specially but it makes sense from what I've read and what I know of the law and government taxes.
I don't know where you got that idea that you pay less to redistribute money to people using a company. When you get money from a company, the IRS considers that taxable income. So by claiming the money with a company and then giving money to someone, you've shifted the tax burden from yourself to that person.
If you're planning to give a large amount of the winnings to family members, you can file a multiple ownership claim. Your family member will get the money directly from the lottery commission and the money will only be taxed once.
United States
Member #130,809
July 25, 2012
1,636 Posts
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Quote: Originally posted by bigboy90000 on Nov 30, 2012
It seems kind of crazy that they only waited less than 24 hours to claim this money.Planning is key before you can even begin to take the check .My first question would be how can we get away with this money and not have my name in the public eye.Second what are my options to put this money to work .Third question how much to retain you guys for future litigation purposes .Fourth wheres a jet to take me out of the country.
Maybe they decided to not overthink it and just claim their money....I mean they live in a town with 458 people in it who the heck doesn't know they won.....the only reason I would have waited longer is my brother would have to fly in from out of town to claim it with me and my sisters....otherwise I'd have been there when they opened the door the next morning...LOL
NY United States
Member #23,834
October 16, 2005
4,760 Posts
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"I don't see any advantage in delaying the claims process whatsoever unless you bought the ticket in one of the very few states that allows anonymity."
I'd say you've got that completely backwards. If you can remain anonymous you can claim the prize and make some plans while waiting for the money to be transferred. When you can't be anonymous you want the time to get things in order. These people probably didn't even get their phone turned off before rushing to claim the prize.
"they live in a town with 458 people in it who the heck doesn't know they won"
Everyone in every other town in the country. Well, until 36 hours after they won, anyway.
United States
Member #124,487
March 14, 2012
7,021 Posts
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Quote: Originally posted by bigboy90000 on Nov 30, 2012
It seems kind of crazy that they only waited less than 24 hours to claim this money.Planning is key before you can even begin to take the check .My first question would be how can we get away with this money and not have my name in the public eye.Second what are my options to put this money to work .Third question how much to retain you guys for future litigation purposes .Fourth wheres a jet to take me out of the country.
Nutley, New Jersey United States
Member #131,052
August 1, 2012
904 Posts
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Quote: Originally posted by KY Floyd on Dec 1, 2012
"I don't see any advantage in delaying the claims process whatsoever unless you bought the ticket in one of the very few states that allows anonymity."
I'd say you've got that completely backwards. If you can remain anonymous you can claim the prize and make some plans while waiting for the money to be transferred. When you can't be anonymous you want the time to get things in order. These people probably didn't even get their phone turned off before rushing to claim the prize.
"they live in a town with 458 people in it who the heck doesn't know they won"
Everyone in every other town in the country. Well, until 36 hours after they won, anyway.
There is no difference if you claim the day after the drawing if you can't be anonymous. Like I wrote, it takes about 4 to 6 weeks for the money to be made available to you. You can make plans, talk to lawyers and get everything in order during the 4 to 6 weeks.
What difference would it make if you get your phone turned off before your name has been released to the newspapers or after? Start the claims process in the morning and call the phone company to cancel your phone in the afternoon. No problem.
If you delay the claims process, a million horrible things can happen to your winning ticket. I know what everyone says about putting the ticket in a safety deposit box, and while I will admit the chances of anything bad happening to your ticket while stored at the bank are miniscule, the chances are not zero percent.
That's like people telling you you shouldn't play the lottery because the chances of you winning are miniscule but as small as your chances were you manage to beat the overwhelming odds and win. Miniscule odds doesn't mean it will never ever happen. You'll be laying in bed at night wondering if anything wrong will happen to the ticket while at the bank or if anything bad will happen after you take the ticket out of the safety deposit box and make your way to the lottery headquarters.
I'd start the claims process immediately, that way the lottery officials will possess the winning ticket and the chances of me collecting my prize money are a 100 percent certainty.
Egg Harbor twp.south Jersey shore United States
Member #112,963
June 29, 2011
4,160 Posts
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Quote: Originally posted by whiteballz on Nov 30, 2012
I already know the laws in my state about public disclosure. The lottery commission is obligated by law to release the name of the jackpot winner but attending a press conference is a choice. If I win, I'm claiming as soon as possible and I'll skip the press conference.
People will know your name but not your face. If you have a common enough name like Dave Smith, you can just tell people you are not Dave Smith the lottery winner, that is some other Dave Smith.
As far as putting the money to work, it takes about 4 to 6 weeks for the lottery commission to wire the money to your bank account. I'd claim the day after the drawing. Then I'd use the next 4 to 6 weeks to talk to financial advisors and lawyers.
I don't see any advantage in delaying the claims process whatsoever unless you bought the ticket in one of the very few states that allows anonymity.
Do you know if the perposal for 1 year anonynimty passed in our state ?
after that one article was published on here, I did'nt hear any more about it.
even on the states website.
Extraordinary Popular Delusions & the Madness of Crowds -- Charles Mackay LL.D.