What amount of money would be fair?

Reply #10

BobP — Tue, 06 Dec 2005 06:50:43 GMT

I'd open a joint checking account in all their names for a million, give them each a check book and leave town. BobP

Reply #9

BaristaExpress — Tue, 06 Dec 2005 01:03:59 GMT

But you can also just give as much as you see fit to give by their past behavior in handling their own money situations. Have they always been a responsible person or have they always been the type to wait until the lights, phone and gas have been turned off before deciding to pay! These are all the things that need to go into consecration before just handing someone thousands and thousands of dollars! I know I'll be doing the trust thing for my family members (half brother, half sister). And it... [ More ]

Reply #8

Chewie — Mon, 05 Dec 2005 21:24:34 GMT

How much you share with relatives, or any one for that matter, should be based on the value of that person to you - before you had money to give away. Those who stood by me during down times have a greater value then those who showed up at Christmas time for the family dinner. I had heart surgery a few years ago. Those who showed an active interest in my health scored tons of points.

Reply #7

bellyache — Mon, 05 Dec 2005 14:09:45 GMT

If I won a big jackpot, I would take care of my mother and I would give a little to my sisters, nephews and nieces.

Reply #6

luckieStarr — Wed, 30 Nov 2005 22:06:01 GMT

100 and 110 are good numbers from how will I share my lottery winnings, oh, please

Reply #5

weshar75 — Wed, 30 Nov 2005 20:34:07 GMT

I think if I won the lottery I would make my mother debt free and buy some things my brother needed and some things my sister needed and that would be it. The rest would just sit in the bank after I was debt free too and had a couple of new things like new clothes, new truck, new glasses.

Reply #4

Fwup — Wed, 30 Nov 2005 20:25:02 GMT

pacattack05 said: Remember that story a few months ago, when a guy wanted to donate, I forget, I think 5 million to the Salvation Army, but they said they don't accept monies that come from gambling. He won a big jackpot, and just wanted to help the needy. What a bunch of idiots. That's called integrity . If their organization has an official position against gambling, they can't very well benefit from the proceeds of gambling.

Reply #3

MrBobb — Wed, 30 Nov 2005 20:15:15 GMT

Sorry about the formatting - I didn't turn on the boldface font.

Reply #2

MrBobb — Wed, 30 Nov 2005 20:12:33 GMT

whodeani said: I would take care of all their debts and give some additional cash. My siblings and their spouses would get $11,000 each to avoid any paying any gift tax. But as far as taking care of them beyond that I am not sure. You start paying of all their debts (houses and cars) and whatnot, I think that would be good way to see that money disappear... What do you think would be fair? The question that probably needs to be asked first is what amount of money (beyond the $11,000 you mentio... [ More ]

Reply #1

pacattack05 — Wed, 30 Nov 2005 19:25:37 GMT

Since I have one sister, I would probably give her, out of say 3 million, a hundred thousand, and my dad, I would give 2 hundred thousand. As for my cousins, they can all go Eff themselves since they wouldn't help me out in the past.My mother is in Holland, and deserted me many many moons ago, like when I was 7 years old, so she owes me.I would probably give 20 grand to my grandmother in England, who is 100 years old. She lives with my aunt, so the 20 grand would just be for some play money, lik... [ More ]

What amount of money would be fair?

whodeani — Wed, 30 Nov 2005 19:13:34 GMT

Hey all,I am curious to know how other LP members would handle sharing money from a lottery win with family members. When I say lottery win I am not saying a Mega Millions or Powerball type jackpot either. Winning the average jackpot of either of those which is probably somewhere $80 million or even more there would be plenty of money to go around. I am talking about your own state's lotto jackpot (6/49 or similar) where the jackpot might be $5-$10 million. After taxes you would be left with som... [ More ]