Renting a safety deposit box at a bank

Reply #30

grwurston — Sun, 18 Dec 2016 19:38:30 GMT

Big wins do change people. They can now afford to travel, buy what they want, do things they normally never would have been able to do before.

As far as everybody else... People change big time, they get envious, jealous. You get the, Hey, I sure could use a new car! You can afford it. And then when you say no, they get pissed. Or you get the, Hey, you helped them, why not me? Or if you choose to keep working it's, What are you still doing here? You have enough money. Let someone who needs a... [ More ]

Reply #29

Stack47 — Sun, 18 Dec 2016 05:23:32 GMT

Just sign the ticket and have it validated as soon as possible

And that's probably what their lawyer will tell them or they might take their brother-in-laws advice and let him hold it.

Reply #28

lejardin — Sun, 18 Dec 2016 05:05:17 GMT

I dont have a comment on the safety deposit box grwurston but I do on your signature! What a perfect motto for lotto.

Everybody's so different, I haven't changed ............ I would love to think that would be me, but in all honesty, how could a jackpot win NOT change a person? I know it would me, I just hope it wouldnt be for the worst.

I love Joe Walsh! Especially when he played with the Eagles, one of my favorites along with number 1, Fleetwood Mac.

Reply #27

noise-gate — Sun, 18 Dec 2016 04:44:03 GMT

Thanks for the clarification there G. For a moment l thought your whole idea was keeping the family, friends co workers in the dark while you got your finances in order and then wham, G is gonna surprise them by saying sorry for all the secrecy not letting you all know, but l would like you all to share in my moment, so come along, off to the lottery office we go. I know l couldn't top that.

Reply #26

grwurston — Sun, 18 Dec 2016 00:14:17 GMT

Them is the legal- financial team who would go with you to lottery HQ. Telling the world about your big win, can create all kinds of problems, not always good ones.

It's tough to handle this fortune and fame

Everybody's so different, I haven't changed.

Joe Walsh, Life's been good...

Reply #25

noise-gate — Sat, 17 Dec 2016 22:34:45 GMT

Your post reads like this* to me.Don't tell your family or friends but have them* family friends, co workers go with you to claim your prize. What a guy

Reply #24

noise-gate — Sat, 17 Dec 2016 22:27:59 GMT

Music- should l win the CA Superlotto Plus jackpot tonight, l certainly will take under consideration your advice on renting a safety deposit box at a bank.What can l say- I like good ideas.

Reply #23

grwurston — Mon, 12 Dec 2016 00:53:43 GMT

Excellent point on the extra insurance. Just in case some unscrupulous person looking for a quick payday, throws them self off your porch, and then sues claiming they slipped on some water or sand, or un-shoveled snow.

Reply #22

MillionsWanted — Mon, 12 Dec 2016 00:42:46 GMT

I'm a registered player at my lottery company. Any wins are registered automatically and the wins above a set level will be transfered to my bank account the day after the draw.

Reply #21

grwurston — Mon, 12 Dec 2016 00:28:05 GMT

The best way to keep the ticket safe is to keep your mouth shut. Don't tell anyone, no family, friends, co-workers etc. Then get your legal and financial affairs in order and have them go with you when you claim the ticket.

Reply #20

Brcebrce — Sun, 11 Dec 2016 19:08:18 GMT

I'd rather buy a small fireproof safe. It won't be in there long anyways.

Reply #19

NightStalker — Tue, 06 Dec 2016 20:41:09 GMT

I've had a safety deposit box for about 15 years. Put the birth certificates, passports, and other legal documents. They can be very handy.

Reply #18

music* — Mon, 28 Nov 2016 22:32:51 GMT

you already have your ducks in a row, RIGHT? I would use the time that the ticket is safe to contact an insurance agent to buy Umbrella Insurance Excess Liability Coverage, CHUBB, Lloyds of London, USAA, and Dave Ramsey could supply this insurance. A Trust Estate Attorney. I will need a living trust. Plus help to create Asset Protection. I will contact a CPA Certified Public Accountant and get answers to tax questions. I will need a CFP Certified Financial Planner for his/her help planning my fu... [ More ]

Reply #17

mypiemaster — Mon, 28 Nov 2016 02:30:57 GMT

Just sign the ticket and have it validated as soon as possible{if you have been using LP all this time, you already have your ducks in a row, RIGHT?}. You know they are not going to hand over a gigantic jackpot {PB/MM} win that same day to you. If you live in a BLABBER-MOUTH STATE that will parade you around like a show dog and blabber your name all over the world, I say good luck with that.

Reply #16

LiveInGreenBay — Sat, 26 Nov 2016 20:34:59 GMT

I agree. I have a fireproof lock box in my basement. I keep all my important papers there. If I win a lot of money, that's where the ticket is going.

Reply #15

JustJim — Sat, 26 Nov 2016 20:24:01 GMT

I've already got a safe deposit box for some collectibles so it wouldn't be a problem for me to add that winning powerball ticket to my goodies

Reply #14

mikeintexas — Tue, 22 Nov 2016 09:36:15 GMT

Well, if the key would stay in your bra and considering you'd be super-rich, there'd be no way anyone could accuse you of being flat busted...either literally OR figuratively.

Reply #13

Lucky4Life — Sun, 20 Nov 2016 13:02:25 GMT

especially if it was on the weekend i would get a fireproof lock box and put the ticket in that. I would drive down to claim the prize with the box and they key in my bra

Reply #12

music* — Sun, 13 Nov 2016 19:39:14 GMT

Thank You LottoMetro for telling us about how banks have changed in the 21st Century.

You are correct that the winning ticket will not be insured against loss.

Reply #11

LottoMetro — Sun, 13 Nov 2016 04:12:56 GMT

If it was a very large prize I would probably put mine in a safety deposit box.

I have one and the security measures to access it are pretty robust (biometric + code + key).

Keep in mind that deposit boxes are not insured by the bank against loss, though. And you can't just walk into any bank and rent one the same day as your win. I had to make an appointment. Not all branches have vaults nowadays, so for the ones that do you might get put on a waiting list.

Reply #10

Unluckyone — Sat, 12 Nov 2016 01:26:23 GMT

I have never won anything over $7 so the thought of getting a safe deposit box has never crossed my mind. I'll address that concern if I ever win.

Reply #9

aux8b — Thu, 10 Nov 2016 17:59:11 GMT

No.

Reply #8

helpmewin — Thu, 10 Nov 2016 07:24:06 GMT

I say

Reply #7

LottoAce — Wed, 09 Nov 2016 23:01:12 GMT

After the ticket is validated and especially after the money is in your bank, a lawyer is a must.

Reply #6

Stack47 — Wed, 09 Nov 2016 19:04:26 GMT

I disagree with you on the lawyer part. I will probably need a Last Will and Testament, various Living Trusts, Asset Protection methods like an LLC or Family Limited Partnership

It's a good idea to get a lawyer before validating just for your benefit, but other than using a trust to collect the winnings, they can't change the rules and laws. After the ticket is validated and especially after the money is in your bank, a lawyer is a must.

Reply #5

music* — Wed, 09 Nov 2016 18:01:55 GMT

Stack47, Contact your lottery headquarters or local office. Compare with them the winning numbers, the 18 digit code, the correct game and date. I also agree with you about the tax accountant but I disagree with you on the lawyer part. I will probably need a Last Will and Testament, various Living Trusts, Asset Protection methods like an LLC or Family Limited Partnership.

I will have to remind myself that I now have millions and can afford all the Professionals I think I need.

Reply #4

Raven62 — Wed, 09 Nov 2016 17:47:36 GMT

What should I put in my bank safe-deposit box? Items experts recommend storing in a safety-deposit box include birth or marriage certificates, insurance policies, property deeds, rare coins, jewelry, irreplaceable family photos, stock or bond certificates, and foreign currency.

No Lottery Tickets! LOL

Reply #3

Stack47 — Wed, 09 Nov 2016 03:49:11 GMT

Sign the back of the ticket and call your lottery headquarters let them know you're holding the winning ticket. I wouldn't suggest putting the ticket in you wallet or pocket and doing your normal thing, but IMO the safest place is validating it. Lots of people talk about all the things they must do before validating the ticket, but are they really necessary? Can a tax accountant lower you tax rate before you have the money or can a lawyer change the lottery rules and state laws

Reply #2

LottoAce — Wed, 09 Nov 2016 02:20:38 GMT

I have discussed this topic before.

If I was in a lottery pool...yes

If I won the jackpot by myself....no

Reply #1

rcbbuckeye — Wed, 09 Nov 2016 00:27:12 GMT

If I rent one depends on the jackpot size and how long before I claim it.

Renting a safety deposit box at a bank

music* — Tue, 08 Nov 2016 22:44:30 GMT

I have read a lot of different opinions about safeguarding your winning ticket. From placing it in your Bible to hiding it in a spray painter. And more.