Welcome Guest
Log In | Register )
You last visited December 10, 2016, 5:39 am
All times shown are
Eastern Time (GMT-5:00)

Lottery winner demonstrates the right way to claim a big jackpot

Topic closed. 87 replies. Last post 9 years ago by DC81.

Page 6 of 6
53
PrintE-mailLink
rubberbandman's avatar - Spawn Classic.jpg
mn
United States
Member #59040
March 4, 2008
276 Posts
Offline
Posted: March 25, 2008, 8:58 am - IP Logged

KY Floyd, your answer is the best I have read by far as to how to remain anonymous.  Thanks!

I suppose,

I can't see how it is any different from what i've been saying.

    Avatar
    NY
    United States
    Member #23835
    October 16, 2005
    3475 Posts
    Offline
    Posted: March 26, 2008, 3:00 am - IP Logged

    Then perhaps you're having trouble reading it, understanding it, or both. I suppose it could also be confusion about what you've said, which wasn't much, and wasn't very informative. Go figure.

      rubberbandman's avatar - Spawn Classic.jpg
      mn
      United States
      Member #59040
      March 4, 2008
      276 Posts
      Offline
      Posted: March 26, 2008, 9:43 am - IP Logged

      Then perhaps you're having trouble reading it, understanding it, or both. I suppose it could also be confusion about what you've said, which wasn't much, and wasn't very informative. Go figure.

      Dude, why are you hatin on me, I didn't do anything to you?

       

      and ps Ive stated the first part or your comment about legal entities multiple times

      the second part on the other hand about generalization, i didnt know, your comment was GENIUS, I would've never thought of that, thanks,

       

      "Gee Brain, what do you want to do tonight?"
      "The same thing we do every night, Pinky- try to take over the world."

        Avatar
        NY
        United States
        Member #23835
        October 16, 2005
        3475 Posts
        Offline
        Posted: March 26, 2008, 3:58 pm - IP Logged

        If I choose to respond to a post I simply give it the response I think it deserves. I didn't see that you said anything useful about legal entities in this thread, but you felt it necessary to whine when appreciation was expressed for somebody else's answers. I thought your whining deserved a response.

        If you think my comment was genius, then you obviously see some difference. I thought it was a relatively simple assumption, which means I could be completely wrong*, but thanks, anyway.

        * It seems to me that the use of trusts or other legal entities is relatively new (or at least it wasn't at all common in the past) for claiming jackpots, which is why I'm guessing that some states may be offering general answers about "winners" and anonymity. Since any legal entity can generally own property and have rights to that property, I don't see that a lottery can refuse to pay the prize to, and release only the name of the lawful owner of the ticket, unless there is a specific state law that says only individuals can own tickets. FWIW, patents are one notable exception to ownership by entities other than individuals. Patents are only issued to individuals (at least in the US), but the rights to the patent can be assigned to a company. 


          United States
          Member #59765
          March 26, 2008
          6 Posts
          Offline
          Posted: March 26, 2008, 8:14 pm - IP Logged

          I haven't read this entire thread, but isn't there a Powerball ticket worth $95 million that hasn't been claimed?

            colthmn's avatar - Lottery-028.jpg
            Inglewood
            United States
            Member #41769
            June 22, 2006
            122 Posts
            Offline
            Posted: March 26, 2008, 9:03 pm - IP Logged

            I haven't read this entire thread, but isn't there a Powerball ticket worth $95 million that hasn't been claimed?

            Well,  I'm looking at the Powerball site right now and it lists a 97mil. dol  annuity hit on Jan 16, 08 as unknown

            cash value $48,478,863.05. perhaps this is the one you're referring to. Won in Louisiana!!! 


              United States
              Member #59765
              March 26, 2008
              6 Posts
              Offline
              Posted: March 27, 2008, 9:43 am - IP Logged

              Well,  I'm looking at the Powerball site right now and it lists a 97mil. dol  annuity hit on Jan 16, 08 as unknown

              cash value $48,478,863.05. perhaps this is the one you're referring to. Won in Louisiana!!! 

              That's it.  So I was off by $2 million.

                DC81's avatar - batman39
                MI
                United States
                Member #54830
                August 31, 2007
                985 Posts
                Offline
                Posted: March 28, 2008, 7:45 pm - IP Logged

                I haven't finished reading this topic yet and maybe someone else has said something but I had to stop and respond to this. 

                If you're referring to the case I think you are, you have absolutely none of the facts or the circumstances surrounding it. Feel free to do a minute's worth of research on Liebeck v. McDonald's Restaurants, P.T.S., Inc. 

                You can't predict random.

                  DC81's avatar - batman39
                  MI
                  United States
                  Member #54830
                  August 31, 2007
                  985 Posts
                  Offline
                  Posted: March 28, 2008, 8:11 pm - IP Logged

                  Probably the type of lawsuits where they hope the defendant will offer them a settlement that is less than the cost of going to court. It sounded like a frivolous lawsuit when that woman put a hot cup of coffee between her legs while driving her car so she could answer her cell phone, but look at what she got. 

                  It said "some taxes" and the limited partnership was formed before they cashed the ticket. If Uncle Fred had a 1% share, he might not have to pay a gift tax.

                  Ugh, I forgot to check that "quote" box before the previous post to show what/who it was directed to..

                  You can't predict random.

                    GamerMom's avatar - tails

                    United States
                    Member #60535
                    April 21, 2008
                    460 Posts
                    Offline
                    Posted: April 24, 2008, 3:26 pm - IP Logged

                    I wonder if they took 1/3 of her winnings.

                    exactly.  I wonder if sometimes you aren't better off on your own, really.

                      GamerMom's avatar - tails

                      United States
                      Member #60535
                      April 21, 2008
                      460 Posts
                      Offline
                      Posted: April 24, 2008, 3:58 pm - IP Logged

                      Smart to wait and get things in order befor claiming prize.  I know a lot of people who say that they would be at the lottery office the next day to claim their money (before the office is open). It would not be smart to think you can just stick all that money into a checking and savings account; that's as far as most folks assets are right now.  Your money is only FDIC insured up to a max amount.  Trust me, if this lady had a credit card back in college that she did not pay off, I assure you creditors will be trying to come after her some 25 yrs later trying to collect  with accumulated finance charges. Never mind if they are able to collect---this is where all the frivelous law suits and other crap would come in. On another note--she is a pharmacist and she is making GOOD money---surely not living pay check to pay check. My cousin's wife, his wife's brother, his wife's sister-in-law and his wife's cousin are pharmacists and they are banking!

                      You know, i'm glad you posted that.  It never crossed my mind that even my checking account was only FDIC insured up to 100,000.  What DO  people do w/ all that $$$??

                       

                      My aunt is a pharmacist but she's a penny pincher, outlet shops, drives a used Lexus and lives in a modest neighborhood.  smart woman!!!


                        United States
                        Member #59167
                        March 8, 2008
                        174 Posts
                        Offline
                        Posted: April 24, 2008, 6:45 pm - IP Logged

                        Were they really that smart?

                        $80,000,000 minus 25 per cent for Tax=$60,000,000

                        Invested at 3 per cent yields: $1,800,000 per year!

                        So waiting 3 months to claim the prize money cost: $450,000

                        Why is it that lottery winners should hide in the shadows, find strangers to evaluate how they should spend the money, and then loose the interest for the period of their worrying?  How long does it take to make a decision? 30-days? 60-days? 90-days? Why so long?  Isn't 30 days long enough? I think I could make initial evaluations much shorter then that. You can, and will, always change your investment posture in the future!  It is not like any decision made is there in concrete, impossible to change.

                        Every one has to know that if you claimed the prize 10 hours after the drawing, you do NOT get the money?  You can get a supplemental check for around a million, but the big money stays out of reach for around 30 days.  That means you already have a full month to assemble a team and make your initial decisions!  Wait 90 days to claim the prize? You still wait the additional month to get the actual transfer to your account of choice! That is 120 days.  In this case, they lost - forever - a extra half-million dollars to the state. You know the state is keeping the interest for that 90 days!

                        No one will ever convince me to light a match to a half million dollars and say I was being smart!

                          DC81's avatar - batman39
                          MI
                          United States
                          Member #54830
                          August 31, 2007
                          985 Posts
                          Offline
                          Posted: April 24, 2008, 11:23 pm - IP Logged

                          3% is kind of low, safe but low. With decent investing they potentially lost a lot more than that. Just look at the commodities market these days to get at least a small idea on what kind of money could've been made in that time.  *Deletes his ramblings about the price of corn.*

                          You can't predict random.