Why is there a need to consult an attorney upon winning the jackpot?

Reply #12

iGlenn — Thu, 25 Nov 2010 04:42:39 GMT

1. Taxes

2. To shield your money from potential lawsuits.

3. Estate planning. Everyone will eventually die, including you and I.

Screw the financial advisors. They are just glorified sales people. I've educated myself on investments and know exactly what I'd do if I won. I already manage my own investments, it would just be on a much larger scale if I won.

Reply #11

Coin Toss — Thu, 25 Nov 2010 03:07:34 GMT

In Las Vegas they tell the same joke but say coxtail waitresses instead of lawyers!

Q. What's the difference between a Vegas coxtail* waitress and a '57 Chevy?

A. Not everybody had a '57 Chevy.

* Intentional misspelling so as not to snip

Reply #10

psykomo — Thu, 25 Nov 2010 02:42:56 GMT

gee whiz BANGRJOHRJOh

don't BBBBBBBBBBBBBBBBBBBssssssssssssssssssssssooooooooooooooooooCCCCCCCCCCHEAP

GIRL'$$$$$$$$$$$$$$$$$$$$rrrrrrrrrrrrrrrrrrrrrrrrrrrrraaaaaaaaaaaaaaaaaaaBANG!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!

GIRL'$$$$$$$$RRRRRWONDERFUL!!!!!!!!

U don't need a LAWYER 2 get married

(I will not ever have lawyer @ me wed'g)

PSYKOMO

Reply #9

Stack47 — Wed, 24 Nov 2010 23:37:36 GMT

Question) Why don't sharks attack lawyers?

Answer) Professional courtesy.

Reply #8

rdgrnr — Wed, 24 Nov 2010 22:50:47 GMT

Question) What do you call a thousand lawyers on the bottom of the ocean?

Answer) A good start.

Disclaimer: No lawyers have been threatened or harmed in the telling of this old, lame joke.

Reply #7

sully16 — Wed, 24 Nov 2010 22:41:41 GMT

Gently remind the lawyer ...THEY WORK FOR YOU. HAVE A BIG LONG STORY BUT I just got home so it will wait for another time.

Reply #6

RJOh — Wed, 24 Nov 2010 22:29:26 GMT

Did you read the news story about the guy in England who had to give a potion of his winnings to his ex-wife? You may have legal obligations you haven't thought about and he can tell you how to best handle them.

Reply #5

ttech10 — Wed, 24 Nov 2010 22:18:24 GMT

As mentioned above you don't NEED to but in the case of accepting through a blind trust or LLC then you would want an attorney so they can set it up right and so they can go to the check acceptance for you.

It's not about being a legal thing, mainly only about that above. Plus the guy I'm thinking of using now (If I won) also deals with taxes so he could help with that as well.

Reply #4

lottolaughs — Wed, 24 Nov 2010 21:01:59 GMT

You don't need to, that would be your own personal choice. People freak out when they win a lot of money and panic so you do hear stories of them rushing to attornies or other advisors. I would think that would be something to decide later on. But if you are planning on not cashing the ticket in your name but rather under a trust instead then you would need an attorney to do that for you. But, anywho, why all the worry about what you're going to do after you win? You have to win first! Then the... [ More ]

Reply #3

Coin Toss — Wed, 24 Nov 2010 20:21:48 GMT

Why is there a need to consult an attorney upon winning the jackpot?

So you don't find yourself really wishing you did have later on.

Reply #2

four4me — Wed, 24 Nov 2010 18:59:26 GMT

All depends i guess if you already have a business education and know how to form a trust or want to divide money's up between friends or family you might not need an attorney.

Some people might be going through a divorce or are estranged from their spouse necessitating an attorney to delve up the winnings.

There are any number of reasons to get an attorney especially if you have any law suits against you.

This question has been asked and answered many times do a search... [ More ]

Reply #1

Luminus — Wed, 24 Nov 2010 18:57:34 GMT

Probably because people will try to sue you to get some money.

Why is there a need to consult an attorney upon winning the jackpot?

Annual Payments — Wed, 24 Nov 2010 18:44:31 GMT

I never understood why you would need to consult an attorney upon winning a jackpot prize. I can see a need for a financial advisor because of the large sum of money, but only for a limited time. Isn't winning the jackpot a clearcut case? I won, I have the ticket to prove it, here's my ID and bank information. Each account is FDIC insured up to $250,000. Isn't that all the winner would need to know