Marriage/Alimony and how it affects lottery winners

Reply #13

TheGameGrl — Sun, 29 Mar 2009 19:24:17 GMT

Valid lottery question to ask about protecting assets even upon marriage or heirs. Nothing wrong with seeking opinions here.

I am 110% in favor of pre-nups and protecting that which belongs to the individual. Marriage is not solely about the benefits one gains but rather a long term commitment of the NON financial kind. As to heirs, one neednt be married to have offspring and they do seem to come out of the wood work when a person gains fame or fortune.

Reply #12

BaristaExpress — Thu, 26 Mar 2009 16:44:50 GMT

The ONLY way to do it is to have already in place what's called a Legacy Trust! That will keep anyone and everyone away from the money and the money will go on for generations to come long after you are gone! Just think about all the future generations that will benefit from you and your thoughtfulness to start such a legacy for all of your future bloodline. All of the checks will go to them with your name on it!

How do you think the Kennedy's the Rockefeller's and the others do it? How does... [ More ]

Reply #11

charmed7 — Thu, 26 Mar 2009 14:20:08 GMT

I agree with Todd, i could not of said it better.

Reply #10

Todd — Thu, 26 Mar 2009 13:43:06 GMT

A prenup would be a good idea for any lottery winner. As a big winner you should have a steady stream of income from all of your investments, so you need to protect it.

On your last point, I think you're getting carried away. If you're thinking of children as property or bargaining chips in a divorce, you're not ready for children yet.

Reply #9

MaddMike51 — Thu, 26 Mar 2009 13:18:24 GMT

Lee Marvin,the late actor tried that a couple of decades ago.His ex-girlfriend sued him for palamony and cleaned him out.Of course that was in California where they tend to see things a little differently.

Reply #8

grandpajohn — Thu, 26 Mar 2009 08:52:09 GMT

hope they don't live together cause most states that is a marriage after so long

Reply #7

SmoothJuice — Thu, 26 Mar 2009 08:03:26 GMT

If I win the lottery, i would never get married. I would get a permanant girlfriend. One of my customers is a rich Orthodentist and he's been dating this nice woman for 30 years. Never got married.

Reply #6

SpanaUnlimited — Thu, 26 Mar 2009 06:00:11 GMT

Cool info.

Logistics with winning the lottery comes issues and problems one needs to be prepared for and planned out.

The lottery after is a potential asset that can be deemed necessary to litigation disputes involving the winner's creditors.

Reply #5

time*treat — Thu, 26 Mar 2009 05:28:47 GMT

A marriage is a 3-way contract between you, the spouse, and the state you live in and or get divorced in. The state you live in will determine the rules of prenupts, community property, divorce, alimony, child support, etc.

Your options living in NM will differ than your options living in TX, therefore the answer is it depends where you live.

As an aside, your future ex-wife could spend 3 days in Nevada and file for and be granted a divorce from you there.

Reply #4

iGlenn — Thu, 26 Mar 2009 03:45:25 GMT

I agree with you on all points. But, asking them to sign a pre-nup is basically telling them that you don't have that initial trust. It's not a good way to start off a marriage if you ask me.

The solution is to not get married.

Anyways... this isn't a marriage board. We should probably get back on topic.

Reply #3

RJOh — Thu, 26 Mar 2009 03:11:27 GMT

That's something you might want to consider if you have thoughts of finding a rich woman to marry.

Reply #2

SpanaUnlimited — Thu, 26 Mar 2009 02:55:10 GMT

It isn't necessarily all about trust. Half of all the marriages in the US ends up in divorce. Most marriages have initial good intentions and good trust. It is just that circumstances may cause the marriage to dissolve. It has nothing to do with money most of the time.

Anyways I think I answered my own question. I live in a community property state-- New mexico. Thus property acquired PRIOR to a marriage is considered seperate and sole custody of the owner. Joint or 50/50 only exists during t... [ More ]

Reply #1

iGlenn — Thu, 26 Mar 2009 02:50:21 GMT

Marriage shouldn't even be considered if you don't trust them.

Marriage/Alimony and how it affects lottery winners

SpanaUnlimited — Thu, 26 Mar 2009 02:20:47 GMT

Right now I am a SINGLE 25 yr old male. I have no children.

My question is shall I win the jackpot of a major lottery.......is that considered joint property if I would get married down the road in my lifetime.

Or is alimony, etc based only from the time of marriage until divorce.

I heard of prenuptial agreements. very useful apparently.....but aren't those meant for RICH successful individuals who have high steady income annually. With a jackpot....and a lump sum......that is not... [ More ]