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You just won a huge lottery jackpot! Now what?

Topic closed. 137 replies. Last post 3 years ago by MsBee18.

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KY Floyd's avatar - sunflowers avatar.jpg
NY
United States
Member #23834
October 16, 2005
4558 Posts
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"why would I spend money on some CPA's and whatnot"

It may not be a reason that works for you, but not being a moron is one of the possible reasons.

    CDanaT's avatar - Nolz june15.jpg
    Central TN
    United States
    Member #121187
    January 4, 2012
    6073 Posts
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    My opinion - if I win Powerball jackpot I'm going to use the common sense; why would I spend money on some CPA's and whatnot - that money is MINE and MINE only so I'll spend it the way I want and just like someone already said - my plan would be only mine and nobody would know what is it  Smile

    Raki...common sense is a wonderful tool to utilize, IF you have been exposed to the situation(s). What is common to someone with extreme wealth would not be common to the average person. A CPA is the professional that can give/get you answers about various accounting rules, regulations & concerns. Spending a few dollars, out of hundreds of millions, for sound advice & guidance is reasonable. 

    Oh I hear ya on the "money and plan is mine" thing. Unless you know everything about legalities, taxes, investments and prevention of massive loss, a consultation with a professional to ensure your plan is 100% is a great thing. Perhaps the CPA or other professionals can give you options you hadn't thought of that may resonate with your plan... A few bucks spent on an education is always a good thing. Knowledge is power

    BUT, in the end, only you know if you have the knowledge and skills to handle that kind of wealth. Best of luck should you win.

    Integrity: There is no substitute.

    "If some among you fear taking a stand because you are afraid of reprisals . . . recognize that you are just feeding the crocodile hoping he'll eat you last."

      Raki-77's avatar - Lottery-062.jpg
      New Member
      Phoenix, AZ
      United States
      Member #193310
      October 26, 2018
      2 Posts
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      Raki...common sense is a wonderful tool to utilize, IF you have been exposed to the situation(s). What is common to someone with extreme wealth would not be common to the average person. A CPA is the professional that can give/get you answers about various accounting rules, regulations & concerns. Spending a few dollars, out of hundreds of millions, for sound advice & guidance is reasonable. 

      Oh I hear ya on the "money and plan is mine" thing. Unless you know everything about legalities, taxes, investments and prevention of massive loss, a consultation with a professional to ensure your plan is 100% is a great thing. Perhaps the CPA or other professionals can give you options you hadn't thought of that may resonate with your plan... A few bucks spent on an education is always a good thing. Knowledge is power

      BUT, in the end, only you know if you have the knowledge and skills to handle that kind of wealth. Best of luck should you win.

      I haven't experienced such a huge win as of yet; few small ones here and there and yes, extreme wealth can do a number on a person but then again it doesn't have to; I think that I'm more than able to remain one cool dude regardless. As far as the whole CPA's etc I am someone who knows a lot about the whole financial planning(career choice) so that would save me some serious time and money right there; for everything else if I'm not 100% sure or can't find it myself I know where to find it. And in the end - I totally agree with you - knowledge is and always will be a power.

      Too bad I'll never win LOL

      Life is a dream worth living

        Artist77's avatar - batman14

        United States
        Member #121739
        January 16, 2012
        7893 Posts
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        I haven't experienced such a huge win as of yet; few small ones here and there and yes, extreme wealth can do a number on a person but then again it doesn't have to; I think that I'm more than able to remain one cool dude regardless. As far as the whole CPA's etc I am someone who knows a lot about the whole financial planning(career choice) so that would save me some serious time and money right there; for everything else if I'm not 100% sure or can't find it myself I know where to find it. And in the end - I totally agree with you - knowledge is and always will be a power.

        Too bad I'll never win LOL

        I am an attorney but still plan on consulting an attorney who handles trusts 24/7 and a financial planner and a cpa. A sign of intelligence is that you know when to seek expert advice since no one person could be up on every nuance and new rule out there. I want to uncover every option so having common sense and intellectual curiosity will always help you make the right decision.

        His time is up.

         

        Foul

        Job killing

        Barbarians

          larry3100's avatar - larry icon2.jpg
          Redwood City,California
          United States
          Member #70501
          February 3, 2009
          211 Posts
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          I have bee reading it a lot here on Lottery Post, the first thing you don't do is not sign that winning Power Ball or Mega Millions ticket is because your going to put your winnings into a trust so no one will know who won all of that jackpot! I know what you are going to do first is call your best friend or at least you think is your best friend! and say to him or her, I won the lottery jackpot! and your friend is going to say, don't go anywhere, I am coming over to your place, and the next thing, your friend is at your home and wants to see that winning ticket and immediately looks at it and glances on the back of your winning ticket and sees you didn't put your signature on that ticket! Watch-out! So, my advice is put your signature on the back of your ticket right after you purchase it,just to be safe!, that's what I do!

            Avatar
            Kentucky
            United States
            Member #32651
            February 14, 2006
            9573 Posts
            Offline

            I have bee reading it a lot here on Lottery Post, the first thing you don't do is not sign that winning Power Ball or Mega Millions ticket is because your going to put your winnings into a trust so no one will know who won all of that jackpot! I know what you are going to do first is call your best friend or at least you think is your best friend! and say to him or her, I won the lottery jackpot! and your friend is going to say, don't go anywhere, I am coming over to your place, and the next thing, your friend is at your home and wants to see that winning ticket and immediately looks at it and glances on the back of your winning ticket and sees you didn't put your signature on that ticket! Watch-out! So, my advice is put your signature on the back of your ticket right after you purchase it,just to be safe!, that's what I do!

            "I have bee reading it a lot here on Lottery Post"

            Have you read where a LP member actually won a multi-million jackpot?

              Artist77's avatar - batman14

              United States
              Member #121739
              January 16, 2012
              7893 Posts
              Offline

              I have bee reading it a lot here on Lottery Post, the first thing you don't do is not sign that winning Power Ball or Mega Millions ticket is because your going to put your winnings into a trust so no one will know who won all of that jackpot! I know what you are going to do first is call your best friend or at least you think is your best friend! and say to him or her, I won the lottery jackpot! and your friend is going to say, don't go anywhere, I am coming over to your place, and the next thing, your friend is at your home and wants to see that winning ticket and immediately looks at it and glances on the back of your winning ticket and sees you didn't put your signature on that ticket! Watch-out! So, my advice is put your signature on the back of your ticket right after you purchase it,just to be safe!, that's what I do!

              You should not sign the ticket with your name if you can claim in your state with a trust.  Search the New Hampshire news story on this issue. Make a copy of both sides of the ticket and sign with the name of your trust...it can be anything.

              His time is up.

               

              Foul

              Job killing

              Barbarians

                Avatar
                New Member
                florida
                United States
                Member #178722
                December 13, 2016
                42 Posts
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                You should not sign the ticket with your name if you can claim in your state with a trust.  Search the New Hampshire news story on this issue. Make a copy of both sides of the ticket and sign with the name of your trust...it can be anything.

                I could have sworn I read somewheres that copying a ticket ruined its barcode or something like that

                  kd110705's avatar - 8ball
                  New Member
                  Los Angeles, CA
                  United States
                  Member #193606
                  November 6, 2018
                  2 Posts
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                  Hello hello, I'm new here!See Ya!

                  One quick question!

                  ...approaching the 6th week of waiting, is there any way we could check a winning claim status??Sleep

                    KY Floyd's avatar - sunflowers avatar.jpg
                    NY
                    United States
                    Member #23834
                    October 16, 2005
                    4558 Posts
                    Offline

                    I could have sworn I read somewheres that copying a ticket ruined its barcode or something like that

                    Yeah, but at least it won't steal your soul, like having your picture taken does.

                      Tucker Black's avatar - Kleber Vieira.jpg
                      Reno, NV
                      United States
                      Member #173296
                      February 25, 2016
                      334 Posts
                      Offline

                      I could have sworn I read somewheres that copying a ticket ruined its barcode or something like that

                      That's absurd.

                        CDanaT's avatar - Nolz june15.jpg
                        Central TN
                        United States
                        Member #121187
                        January 4, 2012
                        6073 Posts
                        Offline

                        Hello hello, I'm new here!See Ya!

                        One quick question!

                        ...approaching the 6th week of waiting, is there any way we could check a winning claim status??Sleep

                        kd.... I would check the lottery rules in CA as far as payouts are concerned. If you won $$ from PB or MM it may take longer than a state sponsored game like your Superlotto,Fantasy 5 or a scratch-off ticket.

                        https://static.www.calottery.com/~/media/Publications/Popular_Downloads/winners-handbook-October%202018-%20English.pdf

                        I did see it could take "up to 6 weeks" on page 6 in the FAQ.... My suggestion is to wait until week(7) and then head down to your nearest office to inquire......................Good luck

                        Integrity: There is no substitute.

                        "If some among you fear taking a stand because you are afraid of reprisals . . . recognize that you are just feeding the crocodile hoping he'll eat you last."

                          CDanaT's avatar - Nolz june15.jpg
                          Central TN
                          United States
                          Member #121187
                          January 4, 2012
                          6073 Posts
                          Offline

                          I could have sworn I read somewheres that copying a ticket ruined its barcode or something like that

                          Take a picture with your phone,do a selfie with the ticket, heck take a video, then go to a CVS and use their equipment to print a nice color photo. Then you have zero concerns about a copy

                          Integrity: There is no substitute.

                          "If some among you fear taking a stand because you are afraid of reprisals . . . recognize that you are just feeding the crocodile hoping he'll eat you last."

                            rcbbuckeye's avatar - Lottery-062.jpg
                            100
                            Texas
                            United States
                            Member #55887
                            October 23, 2007
                            13265 Posts
                            Offline

                            I could have sworn I read somewheres that copying a ticket ruined its barcode or something like that

                            Don't believe everything you read.

                            I've taken hundreds of pix of work pool tix for members and the barcodes were fine.

                            CAN'T WIN IF YOU'RE NOT IN

                            A DOLLAR AND A DREAM (OR $2)

                              kd110705's avatar - 8ball
                              New Member
                              Los Angeles, CA
                              United States
                              Member #193606
                              November 6, 2018
                              2 Posts
                              Offline

                              Hi CDanaT!!! Thanks for the reply.

                              Yep, will just wait for it. Talked to our investigator and he said check will be released today, but I don't know what that means. Lol! Will the 6weeks start from thw claim date or on the date the check is being released. :D

                              Have a great weekend! :))

                                 
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