Question about winning Jackpot

Reply #4

whiteballz — Sat, 10 Nov 2012 15:39:50 GMT

yes. Ask for a Multiple Ownership Claim Form at the lottery office.

Reply #3

Mr-Smith — Sat, 10 Nov 2012 13:53:32 GMT

Blind trust....... is the way to go.

Reply #2

Piaceri — Sat, 10 Nov 2012 12:54:46 GMT

I would think you could claim with an entity like a Family Limited Partnership where you can have unequal beneficiaries. But then again, you'd need to check with an estate atty to be sure. With a big jackpot win, I'd think the first phone call would be to an estate atty long before the investment guy. You've got to get the money before you can invest the money.

Reply #1

BobP — Sat, 10 Nov 2012 12:42:58 GMT

In my opinion, no. Though there is enough difference from game to game to make it worth actually checking with the lottery you plan to play. Some lotteries require a group be formed prior to the draw(s). Most groups are an equal split based on return on equal ticket purchase per member. Otherwise you would have to consult a tax attorney to form a unequal partnership or coporation to claim the prize, pay taxes and distribute the cash as agreed.

BobP

Question about winning Jackpot

Artemis — Sat, 10 Nov 2012 07:57:38 GMT

Is it possible to split a Powerball/Megamillions Jackpot however you want to?

For example, if I won $120 million, but just wanted to give my sister a $10 million split, could she claim it legally/publically (the way a group would)?

Hope this makes sense lol

Thanks