Florida couple claims share of historic $1.6 billion Powerball jackpot

Feb 17, 2016, 3:05 pm (80 comments)

Powerball

Includes video report

By Todd Northrop

A married couple from Melbourne Beach, Florida, have claimed their one-third share of the world's biggest lottery jackpot of all time.

Although the prize money was claimed under a trust, the winners identified themselves in a press conference Wednesday afternoon as David Kaltschmidt, 55, and Maureen Smith, 70.

The winners, originally from Long Island, New York, have been residents of Melbourne Beach since 1991. They have no immediate plans to move.

Although the annuity share of the $1.6 billion jackpot was $528.8 million, the winnings were claimed with the lump-sum cash option, which amounts to a payment of $327,835,077.79 before taxes. Maureen said that the decision to choose the cash was based on her age.

Because Florida does not impose state tax on lottery prizes, the couple only has Federal income taxes to worry about.

Lottery officials said the winners had up to 180 days to claim the $528.8 million or 60 days to take the lump sum of $327.8 million. 

The winning numbers from the Jan. 13 drawing were 4, 8, 19, 27, and 34, with Powerball number 10. The couple said they frequently shop at the Publix, located at 3830 Highway A1A in Melbourne Beach, where their winning ticket was purchased.

The historic jackpot was won by three tickets sold in California, Florida, and Tennessee. (See Record $1.6 billion Powerball jackpot won by 3 tickets, Lottery Post, Jan. 14, 2016.)

David is an employee of Northrop Grumman, a job he's held since 1980. He plans to retire, saying that instead of designing airplanes he will now concentrate on tax strategies, investments, and charities. Maureen is a homemaker.

The couple has been keeping the win a secret from everyone, including family, friends, and work, since winning the massive prize on January 13.

Keeping the secret was not easy. The first day after the win David arrived late for work, prompting employees to ask him if he was the winner. He told them he didn't purchase a ticket. (He didn't lie, because Maureen was the one who bought it.)

Finally the couple notified family members about their win about a week ago.

Their biggest concern is security, now that their identities are revealed. David said that he has been adding some security systems to the couple's home.

They refused to speak about children, citing privacy concerns. "Certain things we want to keep to ourselves," Maureen said during the press conference.

Maureen worried that she would become less friendly overall due to their security concerns. She said that winning the jackpot is "scary and unknown". She has been dreading the press conference.

The winning ticket was played with numbers that the couple has been using for the past 30 years, although not regularly.

The couple does not have immediate plans for the money, other than a new car. "My truck is falling apart, so it's time to get a new vehicle," David said.

Marueen said she has plans to "help special people in [her] life", but the only immediate plan was to get a massage.

It takes 2 days for the Florida Lottery to wire transfer the money into the winners' bank account, but they do get the entire amount in one fell swoop.

There is still one unclaimed ticket from the record Powerball drawing — the one sold in Chino Hills, California. The Tennessee winning ticket was claimed by a couple two days after the drawing. (See Tennessee couple claims share of $1.6 billion Powerball jackpot, Lottery Post, Jan. 15, 2016.)

VIDEO: Watch the press conference

News story photo(Click to display full-size in gallery)

News story photo(Click to display full-size in gallery)

Lottery Post Staff

Comments

mypiemaster's avatarmypiemaster

Thumbs UpWay to go. Does it really matter anymore, to claim via a trust in Florida when those knuckleheads are going to splash your name and pictures and the name of your trust all over the the world and parade you like cattle?. Kind of defeats the purpose!!!.

destinycreation

From a distance in the picture, this lady looks good to be 70 years old [He is 55] Wonder if they are married to each other, or related, or not ??

Florida is a Cougar StateLOL

Stack47

The second piece of the puzzle is in and while we're waiting for the third, we can sit back and read some negative criticism the LP members suffering from jackpot envy.

Lurking

Todd's avatarTodd

Quote: Originally posted by destinycreation on Feb 17, 2016

From a distance in the picture, this lady looks good to be 70 years old [He is 55] Wonder if they are married to each other, or related, or not ??

Florida is a Cougar StateLOL

Check the second word in the story.

HoLeeKau's avatarHoLeeKau

I don't get why they went public.  They obviously know the risks and are concerned about their security.  What in the world would make them wait this long to claim under a trust, then do the press conference?  Is this something Florida requires?

lejardin's avatarlejardin

Did they use the same lawyer from Tennessee?  Let's go public to control the interest lol. 

Why go to a claiming conference if you took the time to set up a trust?

Oh and let me be the first to admit to jackpot envy.

Saylorgirl's avatarSaylorgirl

Congratulations David and Maureen!!  May you enjoy your newfound wealth!

jacintasc

Quote: Originally posted by lejardin on Feb 17, 2016

Did they use the same lawyer from Tennessee?  Let's go public to control the interest lol. 

Why go to a claiming conference if you took the time to set up a trust?

Oh and let me be the first to admit to jackpot envy.

The press conference is optional.

But in Florida, they post the trustees of the trust no matter what. It is public record and open to public access, unfortunately.

Again, only the press conference part was optional.

lejardin's avatarlejardin

Quote: Originally posted by jacintasc on Feb 17, 2016

The press conference is optional.

But in Florida, they post the trustees of the trust no matter what. It is public record and open to public access, unfortunately.

Again, only the press conference part was optional.

Thank you for the info.  I was not aware the trustees are listed and all info has public access.  I still would never go to the press conference. 

Anyway good luck to the winners.  Hope they find security and some sort of privacy.

LottoLucy's avatarLottoLucy

Quote: Originally posted by mypiemaster on Feb 17, 2016

Thumbs UpWay to go. Does it really matter anymore, to claim via a trust in Florida when those knuckleheads are going to splash your name and pictures and the name of your trust all over the the world and parade you like cattle?. Kind of defeats the purpose!!!.

Even if a trust can't keep you anonymous there are other reasons to claim it that way.  It might be a prudent move for estate planning.

LottoLucy's avatarLottoLucy

Quote: Originally posted by HoLeeKau on Feb 17, 2016

I don't get why they went public.  They obviously know the risks and are concerned about their security.  What in the world would make them wait this long to claim under a trust, then do the press conference?  Is this something Florida requires?

I have read a lot of information from various lotteries on winning a large jackpot and one thing they all say, even when a press conference is optional, is to do the press conference.  Supposedly it will get it all over with and the press will leave you alone.  Now, I don't really believe that and think it is pretty self serving advice from the lottery but I imagine to some people it might make sense when presented like that.

TheMeatman2005's avatarTheMeatman2005

Quote: Originally posted by mypiemaster on Feb 17, 2016

Thumbs UpWay to go. Does it really matter anymore, to claim via a trust in Florida when those knuckleheads are going to splash your name and pictures and the name of your trust all over the the world and parade you like cattle?. Kind of defeats the purpose!!!.

Claiming via a trust or LLC is more for legal reasons.

If you are (G-D forbid) in an accident, the other person can sue you for every penny you have. If you have an LLC it is an entity on its own and protects your assets.

It takes a few weeks to form a trust / LLC. 

mypiemaster's avatarmypiemaster

Quote: Originally posted by LottoLucy on Feb 17, 2016

Even if a trust can't keep you anonymous there are other reasons to claim it that way.  It might be a prudent move for estate planning.

Sure I get that, but if you are willing to expose yourself to the masses, why wait all this time to form a trust, why not just claim the next day, like the country-boy lawyer and his clients who went on national TV and then form a trust?.

mypiemaster's avatarmypiemaster

Quote: Originally posted by TheMeatman2005 on Feb 17, 2016

Claiming via a trust or LLC is more for legal reasons.

If you are (G-D forbid) in an accident, the other person can sue you for every penny you have. If you have an LLC it is an entity on its own and protects your assets.

It takes a few weeks to form a trust / LLC. 

I get all that. But the article clearly stated, "Their biggest concern is security, now that their identities are revealed". Apparently they did not want their identities revealed, but rules are rules. So Florida lottery decided to screw them just for cheap publicity, like they really need it. SMH.

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