Lottery tickets are a "bearer intrument"

Reply #17

CASH Only — Thu, 08 Dec 2005 01:08:23 GMT

$600.

Reply #16

Chewie — Wed, 07 Dec 2005 16:32:04 GMT

I wonder how an LLC works, if it is formed after the drawing. The IRS might question that when it comes to any tax manipulation planned. If the ticket was a multi-draw, say purchased in Novermber, and the winning draw was on December 5th, but the LLC was formed on December 8th. Also, can the money from the lottery office be sent to an LLC account, regardless of the formed date

Reply #15

hypersoniq — Wed, 07 Dec 2005 10:37:15 GMT

I don't sign tickets that pay less than $500, since that's the tax-free cutoff, I believe.I never won more than $100, so I haven't signed any yet...

Reply #14

justxploring — Wed, 07 Dec 2005 07:55:20 GMT

I rarely sign them any more. The suggestion about forming an LLC or Trust makes sense, although if I were the Trustee, I think the lottery would still honor it. However, why take chances? I don't need to sign my tickets since I would never lose one. I keep them in a safe place and, if I ever hit the jackpot, I'd wear it close to my body (like clipped to my bra) until I got to Tallahassee. I'm guessing right now there are so many tickets ready to expire in Jan because people are waiting to claim... [ More ]

Reply #13

ryanm — Tue, 06 Dec 2005 18:57:22 GMT

Yep, I'd only sign my Powerball (or Mega Millions) ticket if it was at least a 4+1 ticket.

Reply #12

Chewie — Tue, 15 Nov 2005 14:28:38 GMT

Agree.I have hit a two 4+1 (before they raised the value) and signed the slip; had to in order to collect the money. Hit a couple of 4+0 and didn't sign either, they gave me the money in the store. No sense in putting my name on something, that can come back to haunt me, when I don't have to.

Reply #11

pigsNtrees — Tue, 15 Nov 2005 03:25:28 GMT

Same here.

Reply #10

TheGameGrl — Tue, 15 Nov 2005 03:11:22 GMT

Chewie is correct. Read your home state lottery provision on ticket validation and claims.

Reply #9

Chewie — Mon, 14 Nov 2005 14:28:01 GMT

Whoever signs as the LLC has a title, and signs with their name. MyCatIsCute can be an LLC, but it not a legal signature.

Reply #8

BaristaExpress — Mon, 14 Nov 2005 05:49:26 GMT

I Vote No Never!I want to form an LLC to turn in the ticket. I might even have a trust turn it in, I have yet to decide which it's going to be. But in either case it can be done, because I didn't sign the ticket as an individual

Reply #7

bellyache — Mon, 14 Nov 2005 04:58:54 GMT

I would think that a person who tends to sign their tickets would be less likely to lose them...so yes I can agree with that.

Reply #6

acronym007 — Mon, 14 Nov 2005 04:55:26 GMT

This person signs all their tickets, I don't think they'll lose them. Hehe. But yes, people can lose tickets, do think a person that signs all tickets is going to lose them, I don't... Cheers,

Reply #5

bellyache — Mon, 14 Nov 2005 04:40:39 GMT

Trust me if you have the winning ticket you won't lose it...I don't think that is all-together true. There seems to be quite a few jackpots out there that never get claimed. Just look at some of the news stories posted here. So it can be said that some people do lose their winning tickets or don't check them.

Reply #4

rlevins — Mon, 14 Nov 2005 03:34:47 GMT

Have you seen signature of President of United States . It is signed by the person as his name occupying the office and not just as President of United States

Reply #3

acronym007 — Mon, 14 Nov 2005 03:09:31 GMT

Signing it before my be a mistake. What if your lawyer recommends signing as another entity (llc, trustee, etc..) and you alreay signed as an individual? I would reconsider that position and keep the lottery ticket safe until you win. Trust me if you have the winning ticket you won't lose it...

Reply #2

Chewie — Sun, 13 Nov 2005 21:50:32 GMT

I believe it is the lottery that claims the ticket is a bearer bond; not the courts. Otherwise, lawyers would not be in the lawsuit business.

Reply #1

bellyache — Sun, 13 Nov 2005 21:46:45 GMT

I don't sign my tickets. I usually win small prizes and so far I haven't felt the need to sign them.

Lottery tickets are a "bearer intrument"

Lawrence Connor — Sun, 13 Nov 2005 21:30:20 GMT

An on-line lottery ticket is a bearer instrument until signed.I sign my tickets before the drawing? How many of us do?Do you sign your tickets before the drawing? Always? Sometimes? never? Never have before but will now?Always have but will quit now? LOL