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Twelve things not to do if you win the lottery

Topic closed. 126 replies. Last post 3 years ago by fastball 9.

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mypiemaster's avatar - 2015021003pileofcash
JACKPOT HUNTER

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Posted: August 27, 2013, 6:06 pm - IP Logged

So if someone finds a winning ticket (as mentioned in the article) they can walk in to the lottery office and say "I found this winning ticket" and the lottery will cash it no questioned asked? I don't think so. 

No disrespect intended, but I think they "barer instruments" only in a technical sense.

Yes you can do that, if you like the words:- probable cause, suspect, detained, interrogation, criminal, disrespect and not to mention, unnecessary publicity and if you are really lucky, a trip to jail. I "found" it , in some quarters actually means, I"stole" it.

Seek and ye shall find -Matt. 7:7 ...Ask and ye shall receive -John 16:24 ...Give and it shall be given unto you -Luke 6:38 ...Be careful what you ask for!!! -Mypiemaster 1:1

Having Money Solves Problems That Not Having Money Creates Yes Nod ****John Carlton****

    Artist77's avatar - batman14

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    Posted: August 27, 2013, 6:08 pm - IP Logged

    So if someone finds a winning ticket (as mentioned in the article) they can walk in to the lottery office and say "I found this winning ticket" and the lottery will cash it no questioned asked? I don't think so. 

    No disrespect intended, but I think they "barer instruments" only in a technical sense.

    Ronnie, you are misconstruing what was said by Todd and others. The lottery ticket is a bearer instrument since it contains no ownership information upon purchase (unlike regular securities like stocks, etc, which are registered upon purchase with your name, etc.) and by having this instrument you are presumed to be the owner. I think common sense tells us all that anything financial has to be validated but in the case of bearer instruments, it is done after the fact, not when you purchase it.

    I really hope you secure legal advice if you ever win a jackpot. Your take on things would end up going viral on the internet. And bearer instruments are NOT a technicality. They are legally recognized in the Uniform Commerical Code in all states.

    J'aime La France.


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      Posted: August 27, 2013, 6:29 pm - IP Logged

      Ronnie, you are misconstruing what was said by Todd and others. The lottery ticket is a bearer instrument since it contains no ownership information upon purchase (unlike regular securities like stocks, etc, which are registered upon purchase with your name, etc.) and by having this instrument you are presumed to be the owner. I think common sense tells us all that anything financial has to be validated but in the case of bearer instruments, it is done after the fact, not when you purchase it.

      I really hope you secure legal advice if you ever win a jackpot. Your take on things would end up going viral on the internet. And bearer instruments are NOT a technicality. They are legally recognized in the Uniform Commerical Code in all states.

      Thanks for the unsolicited advice Artist77  But Im not the one who wrote an article that says anyone who holds a winning ticket can show up and cash it in. Perhaps you should be chastising the writer of the article concerning his understanding of a "barer instrument"? 

      "In a way, lottery tickets are the last form of bearer bonds that anyone collect on if they show up with the coupons and bonds."

      And by the way, no I wont be securing "legal advise" no matter how large a jackpot I win. Thanks.

        Artist77's avatar - batman14

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        Posted: August 27, 2013, 6:36 pm - IP Logged

        Thanks for the unsolicited advice Artist77  But Im not the one who wrote an article that says anyone who holds a winning ticket can show up and cash it in. Perhaps you should be chastising the writer of the article concerning his understanding of a "barer instrument"? 

        "In a way, lottery tickets are the last form of bearer bonds that anyone collect on if they show up with the coupons and bonds."

        And by the way, no I wont be securing "legal advise" no matter how large a jackpot I win. Thanks.

        Green laugh  It is legal "advice", not advise.

        J'aime La France.


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          Posted: August 27, 2013, 6:41 pm - IP Logged

          LOL Well I'm not paying for it, even if it is "advice" lol. With whatever gets deposited into my bank account I will write a check to a guy named "Moe" who will make sure I get a perminate income (no annuity) for the rest of my life, and I will spend the rest. Case clsoed. lol. Yes Nod


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            Posted: August 27, 2013, 6:50 pm - IP Logged

            Ronnie, you are misconstruing what was said by Todd and others. The lottery ticket is a bearer instrument since it contains no ownership information upon purchase (unlike regular securities like stocks, etc, which are registered upon purchase with your name, etc.) and by having this instrument you are presumed to be the owner. I think common sense tells us all that anything financial has to be validated but in the case of bearer instruments, it is done after the fact, not when you purchase it.

            I really hope you secure legal advice if you ever win a jackpot. Your take on things would end up going viral on the internet. And bearer instruments are NOT a technicality. They are legally recognized in the Uniform Commerical Code in all states.

            Are you suggesting that I should be the purrrr-fectionist that you are Artist77 ? Let no think about it.....

            No thanks. Green laugh

              Artist77's avatar - batman14

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              Posted: August 27, 2013, 7:01 pm - IP Logged

              Are you suggesting that I should be the purrrr-fectionist that you are Artist77 ? Let no think about it.....

              No thanks. Green laugh

              lol  Yes, why thank you very much. I know hard work and discipline is not your thing.

              J'aime La France.


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                Posted: August 27, 2013, 7:12 pm - IP Logged

                lol  Yes, why thank you very much. I know hard work and discipline is not your thing.

                Thats funny because the last time I checked being in control of everything and being a perfectionist has nothing to do with hard work or discipline. I could have missed my guess about you, but unless you work and manage a farm Im giving good odds that I can do more work before lunch time than you do in a month. lol.

                  Romancandle's avatar - moon
                  Upacreek
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                  Posted: August 27, 2013, 7:24 pm - IP Logged

                  Well, you're wrong.  Lottery tickets are bearer instruments.  If someone were to obtain a lottery ticket illegally, like through theft, and that theft could be proven, then most certainly the person could be arrested and they would not be paid the jackpot.  But that's because theft is a crime, and has absolutely nothing to do with the fact that lottery tickets are bearer instruments, which they are.

                  I've always wondered about this... they say "you" should sign the ticket right away... what if you formed a blind trust or LLC (not sure if I''ve got the terminology right).

                  But anyway... the intent would be to not broadcast yourself as the winner (anonymity).

                  Shouldn't the name of the trust be on ticket vs "your name" in that case?  Probably mixing a bunch of stuff up here.

                  -RC

                    Elizabeth03's avatar - cat anm.gif
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                    Posted: August 27, 2013, 7:24 pm - IP Logged

                    Always sign your lottery ticket as soon as you buy it!!

                      helpmewin's avatar - dandy
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                      Posted: August 27, 2013, 7:35 pm - IP Logged

                      Thats funny because the last time I checked being in control of everything and being a perfectionist has nothing to do with hard work or discipline. I could have missed my guess about you, but unless you work and manage a farm Im giving good odds that I can do more work before lunch time than you do in a month. lol.

                      some people work harder some people work smarter Yes Nod

                        helpmewin's avatar - dandy
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                        Posted: August 27, 2013, 7:36 pm - IP Logged

                        Always sign your lottery ticket as soon as you buy it!!

                        I Agree! and make some copies so you can show everyone Hurray!

                          helpmewin's avatar - dandy
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                          Posted: August 27, 2013, 7:41 pm - IP Logged

                          Automatically decide to take the up-front cash.

                          Supposedly some 70% of lottery winners end up broke again, many within a couple or few years.

                          If you get $172 million up front, it may sound better than having to receive a payout of $300 million slowly over the course of a lifetime.

                          After all, it is instant empire-making money.

                          Go see a tax pro and a legitimate investment advisor at a top money management firm, a theme you will see here throughout, before you automatically make this decision about a lump-sum or annuity option.

                           

                          don't you think that is why 70% of them winners end up broke because they take the money upfront? Yes Nod

                            Artist77's avatar - batman14

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                            Posted: August 27, 2013, 7:44 pm - IP Logged

                            Thats funny because the last time I checked being in control of everything and being a perfectionist has nothing to do with hard work or discipline. I could have missed my guess about you, but unless you work and manage a farm Im giving good odds that I can do more work before lunch time than you do in a month. lol.

                            Yet you are the one who posts all day long and I do not since I have a career. You seem to have real issues with women, especially ones who have education and expertise beyond your understanding. I recall how insulting you were to Jill.  I also recall the comment about women becoming realtors since only a HS education is needed. My money is on you having a GED at best and an occasional visit to unclog a toilet between posting all day is hardly work. But I think you assume any white collar work is not work. That says it all. You resent the "establishment" who you believe is holding you down.

                            All you do in the past 6 months is increasingly attack and pick fights with LP people and post idiotic icons over and over. You say things just to see if you can start an argument. It is old. I waited a long time before saying anything. Whatever you are so angry about, I hope you get some counseling. But again, your counselor may be a woman.

                            J'aime La France.

                              maringoman's avatar - images q=tbn:ANd9GcTbRxpKQmOfcCoUqF2FyqIOAwDo7rg9G-lfJLAALPGWJWwiz19eRw
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                              Posted: August 27, 2013, 7:52 pm - IP Logged

                              Since the hot topic is about bearer instruments, allow me to chime in. There was a story in LP and other media about a guy in BlackStone, MA who tossed a winning ticket in the store trash can. Some other guy who used to go through the trash can of that store was lucky that day. He found the winning ticket and went to claim the $1M. The person who bought the ticket sued and they settled out of court. Would lawyers of the one who found the ticket in the trash can "advice" him to settle if the lottery ticket is indeed a bearer instrument? There has to be more to this bearer instrument thing. 

                              http://www.lotterypost.com/news/121412

                              That money's gone fo ever