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Ohio lottery winner owes more than taxes on his prize

Topic closed. 39 replies. Last post 10 years ago by Lucky$even.

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Delaware
United States
Member #30273
January 14, 2006
494 Posts
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Posted: June 13, 2006, 8:45 pm - IP Logged

If he dies, the balance becomes part of his estate and hopefully he will have a will that will distribute his winnings to his heirs.

If he dies before receiving all his payments, most likely his heirs will have to pay estate taxes on the FULL annuity, including what would not have been paid out at the time.

Whatever....If he is dead, he won't give a rip , since he would be worm food at that point. His kids will get the money they deserve.

DD

The kids deserve better...they should each get a lump sum.

Am I the only one here who thinks that CASH might not be old enough to legally play the lottery?


    United States
    Member #379
    June 5, 2002
    11296 Posts
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    Posted: June 14, 2006, 10:03 am - IP Logged

    If he dies, the balance becomes part of his estate and hopefully he will have a will that will distribute his winnings to his heirs.

    If he dies before receiving all his payments, most likely his heirs will have to pay estate taxes on the FULL annuity, including what would not have been paid out at the time.

    Whatever....If he is dead, he won't give a rip , since he would be worm food at that point. His kids will get the money they deserve.

    DD

    The kids deserve better...they should each get a lump sum.

    Am I the only one here who thinks that CASH might not be old enough to legally play the lottery?

    I will be 43 next month (7/29.) I will have been old enough to play for a quarter-century.

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      Delaware
      United States
      Member #30273
      January 14, 2006
      494 Posts
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      Posted: June 14, 2006, 10:33 am - IP Logged

      Act like it please.


        United States
        Member #379
        June 5, 2002
        11296 Posts
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        Posted: June 14, 2006, 12:29 pm - IP Logged

        Act like it please.

        Not all my comments are about cash v annuity. I have opinions on other lottery issues as well.

          LOTTOMIKE's avatar - cash money.jpg
          Tennessee
          United States
          Member #7853
          October 15, 2004
          11338 Posts
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          Posted: June 15, 2006, 4:06 am - IP Logged

          cash only is a unique part of the lottery post family.he will turn on you like a vicious dog at the mere mention of annuities.......

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            Delaware
            United States
            Member #30273
            January 14, 2006
            494 Posts
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            Posted: June 15, 2006, 8:57 am - IP Logged

            My whole comment was about his lack of maturity. I seriously wonder if he's (she's?) just a teenager who's trolling this forum. Even after declaring his age and birthday (a dumb thing to do IMO), I still am not convinced. Oh well, I won't loose any sleep over it. I'd rather just ignore it.


              United States
              Member #379
              June 5, 2002
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              Posted: June 15, 2006, 11:11 am - IP Logged

              My whole comment was about his lack of maturity. I seriously wonder if he's (she's?) just a teenager who's trolling this forum. Even after declaring his age and birthday (a dumb thing to do IMO), I still am not convinced. Oh well, I won't loose any sleep over it. I'd rather just ignore it.

              Why is giving my age and birthday stupid? BTW I am a man.

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                Delaware
                United States
                Member #30273
                January 14, 2006
                494 Posts
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                Posted: June 16, 2006, 10:11 am - IP Logged

                Public forum.


                  United States
                  Member #379
                  June 5, 2002
                  11296 Posts
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                  Posted: June 16, 2006, 10:18 am - IP Logged

                  Public forum.

                  I doubt anybody on LP is going to come to Mahopac and look for me. I don't look 42/43 anyway.

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                    Ann Arbor, MI
                    United States
                    Member #20017
                    August 10, 2005
                    20 Posts
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                    Posted: July 2, 2006, 7:01 pm - IP Logged

                    One of the benefits of remaining single. My advice is to not marry unless:

                    A) you're in love,

                    B) you can handle kids; and

                    C) you're responsible and mature