If you won either the MM/PB JP: How soon would you claim your prize?

Reply #43

jjtheprince — Thu, 30 May 2013 14:08:36 GMT

Right away if it's a smaller JP like $100,000,000 or less because those don't even make headlines anymore.

If it's over $100 mil. I'd probably hold off for about 3 to 4 months.

Reply #42

whiteballz — Thu, 30 May 2013 11:19:46 GMT

Reply #41

helpmewin — Thu, 30 May 2013 06:34:26 GMT

Reply #40

dallascowboyfan — Thu, 30 May 2013 02:25:13 GMT

But he invented the Internet

Reply #39

rdgrnr — Thu, 30 May 2013 02:03:58 GMT

Yeah, no more talk about hurricanes.

Or Polar Bears, lol.

Reply #38

marcie — Wed, 29 May 2013 15:51:21 GMT

At least 2 weeks to a month.....

Reply #37

Jill34786 — Wed, 29 May 2013 15:46:23 GMT

With hurricane activity being way down the global warming contingent jumped all over the recent tornadoes to further push their agenda.

Reply #36

rdgrnr — Wed, 29 May 2013 14:54:29 GMT

Oddly enough, hurricane activity has been way down ever since Al Gore said it was going to be epidemic every year from now on a few years ago.

Reply #35

jerryb*49 — Wed, 29 May 2013 08:58:12 GMT

Wait until the next big hurricane to deflect the publicity.

Reply #34

Stack47 — Wed, 29 May 2013 04:24:29 GMT

Really great response though my point was, to be truly anonymous after a huge jackpot win like the recent PB winner, the player probably blended into any crowd before the win.

Like buying tickets in a large city at several different locations so the clerk checking the video of the transaction wouldn't recognize you. Or not being a regular customer at a bank on first name bases with a teller. The bank record of your deposit is confidential, but any teller will notice the balance and if they kn... [ More ]

Reply #33

sookie — Tue, 28 May 2013 20:20:30 GMT

For the blind trust I think I used the wrong term and meant Revocable Trust

For the rest of the dicussion let's break this down:

but the name and location of the store selling the ticket will be published

Which isn't an issue for me since I buy my ticket in large city and I live outside it.

The people at the lottery will know your business

And they will not release the info if it's anonymous and don't know who you are. believe it or not there are anonymous people out there who hav... [ More ]

Reply #32

JoshUK — Tue, 28 May 2013 18:25:50 GMT

Well, in the UK they send a person to your house to deal with the final parts etc and to verify then I guess you get the money in your bank within the week.

Reply #31

Stack47 — Tue, 28 May 2013 17:24:07 GMT

Claiming using a blind trust is reason enough to justify needing a lawyer because with a blind trust you won't know how much money you have and where and how it's invested. Blind trusts are usually used by Legistlators so they won't be accused of creating legislation to benefit their financial holdings.

The only benefit of claiming anonymous is your name won't be published, but the name and location of the store selling the ticket will be published. The people at the lottery will know your bu... [ More ]

Reply #30

sookie — Tue, 28 May 2013 16:38:51 GMT

I don't need a financial planner, I do that myself. What I do need is a lawyer for the trusts and such, estate ect I need an accountant for the total tax due before I start investing. Lawyers will also charge by the hour to set up a trust. You also need to interview them. I'm also lucky in that a family member's husband is a lawyer in another state so they will know what to ask and look for.

My state allows you to be anonymous so that's where the blind trusts come in. If i win I am telling no... [ More ]

Reply #29

rdgrnr — Tue, 28 May 2013 16:36:03 GMT

Americans have been conditioned (by lawyers) to seek out lawyers for anything that concerns money.

Sometimes it can be expedient and/or necessary.

A lotta times you're just a tool for financing his new Beemer.

Reply #28

Stack47 — Tue, 28 May 2013 16:26:48 GMT

Other than claiming with a trust, I still haven't seen the number one reason why anyone needs a lawyer to validated their ticket. The process for claiming the winnings is legislated and there is nothing a lawyer can do to change that process. Just the fact we're talking about multi-million dollars will raise lawyers fees considerably and to compound future problems, some are suggesting speaking with financial planners before validating the ticket who will create investment strategies so they wil... [ More ]

Reply #27

rdgrnr — Tue, 28 May 2013 16:19:47 GMT

With the current instability, ineptitude and corruption rampant in the scandal-plagued US government, I'd take the lump sum the nano-second it became available.

They are already admitting to plans to make direct withdrawals from our bank accounts for Obamacare so there's no telling what they're capable of with your large sum of money. It's best to get it out of their hands as soon as humanly possible before they come up with new reasons to keep it or skim some more off the top or keep the who... [ More ]

Reply #26

Ronnie316 — Tue, 28 May 2013 15:51:45 GMT

it's none of their business to be honest.

That may not be entirely true if you win the lottery.

Reply #25

sookie — Tue, 28 May 2013 15:45:04 GMT

I'd have to to set up trusts and take care of some issues for estate and such.

But if there was a way to stay anonymous I would take that option I don't want anyone to know how much money I have it's none of their business to be honest.

Reply #24

Ronnie316 — Tue, 28 May 2013 15:32:30 GMT

I'm not afraid to tell people, and I would not bother with a lawyer.

Reply #23

sookie — Tue, 28 May 2013 15:29:46 GMT

I'd claim it about 2 to 4 weeks after I found out I'd won. It takes a few days to collect the money from all the states and I need the time to meet with my lawyer and CPA or accountant. During that time I would not tell anyone. I'd need to be sure I knew how to protect the money and get an idea of how much the money would yield from interest payments so I had an idea of income. Once the financial stuff was set up and the money was ready to be collected then I'd go and have it validated and claim... [ More ]

Reply #22

lottoguysocal — Tue, 28 May 2013 08:35:57 GMT

the answer for me is simple, when I win, no more than a week or two. Maybe even that Friday, if it's the tuesday or wednesday drawing. No student loans, no mortgage, no kids, single, so no annuity for me, in the words of randy moss, straight cash homey . The family would be taken care of, then i'd travel, first destination, Dubai. I've been there three times before and I loved it everytime. Then i'd hit the road and visit historical military places across the US, with Gettysburg being number one... [ More ]

Reply #21

redhot7 — Tue, 28 May 2013 08:17:13 GMT

I don't feel comfortable given a large sum of money all at once. It will make me feel more comfortable if the money is split over the years but that is just me.

Reply #20

yoho — Tue, 28 May 2013 08:12:40 GMT

yes you can, but unless you win hundreds of millions, you may not make enough with your annuity investments to even cover day to day living expenses.

Yes, you shouldn't live your life based on other people's standards. If you want to choose annuity, go ahead. As I said, there could be good reasons for it, and it may suit you personally. But it's kind of silly if the reason you're not choosing lumpsum is simply because many people who would could lumpsum seems to have different political... [ More ]

Reply #19

redhot7 — Tue, 28 May 2013 07:52:10 GMT

1, 2. It may not be true for you but it is true for me. Other people may see it differently but I don't live my life based on other people standard.

3. In case you haven't noticed, this forum is tainted with political and religious confrontations that have nothing to do with the lottery. And it is heavily tilted to the right.

4. I don't have any children and I am single and the only one I may help are other family members. If they are irresponsible, it would do them more damage if I... [ More ]

Reply #18

yoho — Tue, 28 May 2013 07:28:02 GMT

1. This is not true.

2. This is true

3. Well, I absolutely am completely 100% apathetic about politics, and I don't even live in the US, but its for me, lump sum is just so much better than annuity. Reason on 4th point

4. It's good you want to stay grounded and not become one of those spend-a-holics. But another thing you should consider is, do you really just want the lottery to benefit yourself? Let's not look so far at saving the world for a sec, that takes a lot of wo... [ More ]

Reply #17

redhot7 — Tue, 28 May 2013 07:09:43 GMT

Because it is much easier to manage my money with annuity.

Because I will be less tempted to do stupid things with my money.

Because I am not going to listen to political indoctrination from people who choose the lump sum. Every time we have a discussion about lump sum vs annuity, the reason to choose the lump sum is always 95% political, 5% economics. I am not going to listen to people who are politically motivated.

Because I am perfectly happy with just 125K per year. I am no... [ More ]

Reply #16

ttech10 — Tue, 28 May 2013 06:17:54 GMT

I'd hope around a month. No longer than two, definitely.

The longest part would be from talking to those who I would be sharing with and then finding an attorney and setting up a trust/LLC. None of that should take too long.

Reply #15

yoho — Tue, 28 May 2013 05:29:51 GMT

annuity is almost always a horrible choice. Almost. Why do you tend to choose annuity?

@noise-gate; it's not british influence. litres are standard across the world. Only the US and british use gallons, miles, feet, etc. It's really inconvinent.

Reply #14

noise-gate — Tue, 28 May 2013 04:41:39 GMT

l Don't know where to find a good financial planner - you in California right, no problem, l could come to you,l will be your FP no sweat. My fees are not burdensome in the least. You can trust me- l am not a Lawyer.

Reply #13

redhot7 — Tue, 28 May 2013 04:34:01 GMT

I tend to choose annuity but I would talk to a financial planner to hear what they have to say. How long? I don't know. I never hire a financial planner before and I don't know where to find a good one. That's what would take most of my time. Finding a good one among many.

Winning a lottery is once in a lifetime opportunity so I want to be careful.

Reply #12

noise-gate — Tue, 28 May 2013 04:22:53 GMT

What's with the British influence on litres, while visiting Africa years ago we bumped into that gasoline price per litre stuff as well. The price of gas is a little over $4.00 a gal out here in the San Francisco bay area at present plus that price is pretty steep out there in your neck of the woods. ...just saying.

Reply #11

yoho — Tue, 28 May 2013 03:47:38 GMT

around 1.46 per litre recently - 5.53 per gallon. But CAD is a bit cheaper than USD right now, so I'd say around 5.35 per gallon.

Reply #10

noise-gate — Tue, 28 May 2013 03:38:18 GMT

You cross the Border to fill up on gas Yoho- what's the price there

Reply #9

dallascowboyfan — Tue, 28 May 2013 02:30:17 GMT

I would say 2-4 weeks.

Reply #8

yoho — Tue, 28 May 2013 00:13:54 GMT

if i win a lottery while going to the us to fill up on gas or buy stuff, I'd wait anytime from 2 weeks to 2 months, so I get my money immediately, since it takes time for them to get money from the states.

If I won a lottery in canada, I'd wait like 3-5 months, or however long it takes for me to change my name, etc. But if I won online, I wouldn't have the choice.

Reply #7

noise-gate — Mon, 27 May 2013 23:44:27 GMT

How much time do you need to come up with a decision, days, weeks or months? It's not rocket science to know what you want. At least that is how l was raised. Know what you want and go for it, he who hesitates is lost.

Reply #6

Teddi — Mon, 27 May 2013 21:17:15 GMT

It would depend on the size of the JP and how crazy the media frenzy is. If it's a small JP , I don't think there's any need for any major prep work. The media isn't going to be going crazy, so for the most part you'll be able to skate by without too much notice. So the most I'd probably do at that point is to get a PO Box a new phone number. Stuff like that. That'll all take a week or 2 at most.

But if it's like the big JP and everyone is waiting to see who the $590M winner is, then at LEAS... [ More ]

Reply #5

whiteballz — Mon, 27 May 2013 19:58:28 GMT

as soon as possible. time is money.

Reply #4

redhot7 — Fri, 24 May 2013 21:55:41 GMT

As soon as I can make a decision between lump sum vs annuity. Everything else could come later.

Reply #3

Artist77 — Fri, 24 May 2013 21:39:44 GMT

Unless it was a record Jackpot, I think I would claim it in 2-4 weeks. Under 4 million, maybe in 2-3 weeks.I would not want to wait longer than a month or I am afraid they'd be posting some video of me buying the ticket. $1200 is a lot! One HB and one other number in hot lotto makes me a little ancy to get it claimed. lol

But I think if you have a plan, hopefully that training will kick in with a big win. I think the winners who want to play the big shots (when they don't have to do a press c... [ More ]

Reply #2

haymaker — Fri, 24 May 2013 21:12:40 GMT

I know I'd be anxious to cash it ASAP but if if the prize were bigger than ...say the starting JP on MM w/a clear of 4 mils.

then I think I might take longer to get my ducks in a row.

I already have a finance and tax guy so first step is to call him and find out what step 2 is.

Won $1200.00 last year and that made me anxious to collect, can't imagine how $4mil. would make me feel,

but it did give me a preview.

Reply #1

Ronnie316 — Fri, 24 May 2013 20:49:51 GMT

I would wait a couple of months for the suspense to grow and then announce myself on LP.

If you won either the MM/PB JP: How soon would you claim your prize?

noise-gate — Fri, 24 May 2013 20:06:07 GMT

First business day of the week following your win, months later or close to expiration?

* People who say it cannot be done should not interrupt those who are doing it.

George Bernard Shaw.