Interesting way to avoid being hassled ?

Reply #44

KY Floyd — Sat, 11 Mar 2017 23:52:05 GMT

When he went public to collect, it would show he gave it all away except about $100,000.

So if he won powerball tonight his plan would be to donate $62.3 million even though the most he could actually collect would be $46.8 million. And he thinks that telling everyone that he gave away $62.3 million will keep the losers from bothering him when the lottery tells everybody that he won $104 million.

Is that his plan

Reply #43

kreative1 — Sat, 11 Mar 2017 20:01:50 GMT

your name

How far can you throw one

Reply #42

C0w Pi3 — Sat, 11 Mar 2017 18:27:33 GMT

I'm glad where I live I can remain anonymous. I would only have to worry about my close family.

Reply #41

Stack47 — Sat, 11 Mar 2017 04:35:57 GMT

Does it really make any sense if a jackpot winner claims their prize anonymously and then appears on a TV show telling how they are spending/saving/blowing their winnings.

Why don't people who claim anonymously seek publicity if it is so attractive to people?

Just a wild guess; they don't want hundreds of people asking for a handout.

Reply #40

rcbbuckeye — Sat, 11 Mar 2017 01:48:51 GMT

Actually, in my town it's not unusual to see Ferraris, Jaguars, Maseratis, and Porsches. So, if I won a jackpot and bought one of those, I would fit right in.

But, I would probably buy a Ford F250 King Ranch 4x4 diesel.

Reply #39

GeneralMac — Fri, 10 Mar 2017 18:31:23 GMT

When I first saw this post I thought you meant that doctor who assisted in suicides.

Reply #38

Redd55 — Fri, 10 Mar 2017 17:51:18 GMT

Of course if you suddenly drive a Ferrari the town will talk about you, but it will be contained more locally.

Ha! You made me think of billionaire, Kirk Kerkorian, whose favorite car to drive was a Ford Taurus.

Reply #37

mikeintexas — Fri, 10 Mar 2017 16:16:51 GMT

UK may just be an outlier.

I wouldn't argue against that. What I posted was only to point out people who COULD have stayed anonymous, but didn't. As I've tried to point out in here several times in the past, a winner has much more to fear from their friends and family than they do total strangers. Anonymity might protect you from the latter, but it won't from the former. Facts prove that out.

The UK as a society is pretty unique...

I would agree with that and it's like I've alw... [ More ]

Reply #36

MaximumMillions — Fri, 10 Mar 2017 15:43:16 GMT

Interesting factoid, however that is one country out of so many that offer lotteries. If we are looking abroad we also have to look at France, Italy, Ireland, Spain, Portugal, Austria, Switzerland, China, Hong Kong etc, and we'll see that the amount of winners who seek publicity is tiny. UK may just be an outlier. Consider the fact that UK tabloids sent paparazzi after the Fritzl survivors when no other outlets did it. If there is blood in the water the UK press goes for a splash.

(I was sea... [ More ]

Reply #35

Redd55 — Fri, 10 Mar 2017 15:09:35 GMT

In Calif your name is flashed on computer screens where ever they sell lottery games for years. Unless you leave the state, it is impossible to just fade away or live under the wire. I think this is going too far. Legally, your name is public information for transparency purposes. But that does not mean they should use your name for free advertising for years.

Reply #34

rcbbuckeye — Fri, 10 Mar 2017 14:24:47 GMT

I rather think the anonymity thing is much ado about nothing. Shakespeare (the lottery winner) was about the dullest knife in the drawer. He was with the wrong crowd (surprise), and he trusted people he shouldn't have even been around. The idiots in TN that went on national tv before they even claimed the money.....people cause their own problems. Jack Whitaker, another bonehead who caused his own problems.

If you win a big jackpot, just learn to not answer your phone. I already have, if I do... [ More ]

Reply #33

mikeintexas — Fri, 10 Mar 2017 10:13:54 GMT

Around 25% of UK lottery winners opt for the publicity

Why it makes sense for Lottery winners to go public instead of remaining anonymous

Reply #32

MaximumMillions — Fri, 10 Mar 2017 05:21:11 GMT

Not important, else anyone who claims non-anonymously would consider appearing.

I would guess the majority, though. Why don't people who claim anonymously seek publicity if it is so attractive to people

Reply #31

Stack47 — Fri, 10 Mar 2017 04:47:21 GMT

How many of those lottery TV show participants claimed their prizes anonymously

Reply #30

Coin Toss — Thu, 09 Mar 2017 04:48:24 GMT

OOOPS! In the example I gave the taxes would be $39,600,000, not $396,000,000.

Still the entire scenario sounds fishy to me....sound like an individual surfaces that wants to collect winning without even have bought a ticket, just another example of the 'get over' mentality on both end, the actual winner who wants to beat the tax man and the 'beard' who is looking for 2 or 3 million.

Should you ever be on either end of something like this good luck.

Reply #29

GeneralMac — Thu, 09 Mar 2017 00:58:17 GMT

or the safest for those so scared of publicity................don't play

Reply #28

Novan60 — Thu, 09 Mar 2017 00:41:48 GMT

The reason why it is a bad option is because it is a colossal waste of money and the bigger the jackpot the bigger the waste.

The best way to avoid getting hassled is either to play in states that don't require public disclosure or allow a trust to collect the winnings.

Reply #27

GeneralMac — Thu, 09 Mar 2017 00:31:43 GMT

........... and settle for $1 or $2 million ........

and YOU have so many millions in your bank that an extra 1 or 2 are chicken feed ?

Remember, in this scenario you were entitled to NOTHING until this offer came up.

Evidently posting here pays so darn well that a 1 or 2 million offer wouldn't interest you .

Reply #26

Coin Toss — Thu, 09 Mar 2017 00:20:16 GMT

That is really some flawed logic.

Do some research here at LP.

If you're in a state that taxes lottery winnings when all is said and done the taxes are going to be about 39.6%

Let's say you're talking a multi-state game, PB or MM and the jackpot is $100,000,000.

You're going to shell out $396,000,000 in taxes and settle for $1 or $2 million?

Most people in insane asylums might do that but not most people.

Not to mention the IRS having you in their sights from then on in.

S... [ More ]

Reply #25

GeneralMac — Wed, 08 Mar 2017 21:53:12 GMT

for 99% of the people

Reply #24

GeneralMac — Wed, 08 Mar 2017 21:52:12 GMT

?????????????

Why not ?

I didn't buy the ticket.

I didn't win anything.

If the cash option is big enough that after splitting it and ...I..pay all the taxes and still have $1Million-$2Million left, most people would.

I guarantee for 995 of the people that would be the easiest 1-2 Million anyone ever acquired in their lifetime.

Reply #23

Raven62 — Wed, 08 Mar 2017 17:33:12 GMT

If Winning a Jackpot would be too much for you: Play Pick 3 Pick 4 Games

Reply #22

wander73 — Wed, 08 Mar 2017 16:43:43 GMT

First if I was possession of a major winning ticket I would have to find out who to trust the winnings with. The keyword is trust.

Second of all different things I have read from this site is making me laugh a little bit. Very simply you put in the financial institutions of up to $250 k because the financials are insured for that. Don't tell many people.

Reply #21

music* — Wed, 08 Mar 2017 16:38:46 GMT

Here in California, the Lottery Officials will do a Security Interview of all winners who have won more than $350,000.00 This idea that the holder of a winning ticket is the rightful owner may be only cheap talk. The Security personnel knows the questions to ask to determine if a crime is about to be committed.

Lottery tickets being like bearer bonds may not be fact. Security wants the buyer of the ticket to claim the prize.

Good Luck to all LP members and staff.

Reply #20

Coin Toss — Wed, 08 Mar 2017 16:29:10 GMT

GeneralMac,

Who, oh who, would agree to claim the prize, pay the taxes, and then split with the person who bought the ticket

Reply #19

GeneralMac — Wed, 08 Mar 2017 13:11:59 GMT

The Lottery considers whomever turns in the ticket to be the winner, thus that is who is liable for taxes.

Another guy told me he would give the winning ticket to a friend and only ask for $1Million in cash in return in order to remain anonymous.

Transferring $1Million cash from one person to another is not that easy w/o setting off all kinds of alarms involving gift taxes etc

If tranferring a Million dollars in cash was simple, the mob would not have to be laundering money.

Reply #18

Coin Toss — Wed, 08 Mar 2017 05:14:28 GMT

And just who would have to pay the taxes if someone other than the winner claimed the prize?

Not an ideal split.

Reply #17

GeneralMac — Wed, 08 Mar 2017 03:12:19 GMT

Some posters mention giving the winning ticket to someone else to claim the prize and you split it.

NEVER would I ever trust giving a big winning ticket to someone else to cash it for me !

I don't care how good of a friend or how close of a relative

Reply #16

LinCity — Wed, 08 Mar 2017 02:04:37 GMT

I can't help but think of Tevye from Fiddler on the Roof reading this thread when he said, 'He's right and he's right.' Let me add my two cents worth though. I believe that most people would and should remain anonymous so that they may live their remaining days as 'normal people.' The costs of fame whether through the lottery or in the films is not normal. These people live in bubbles - what in the world is appealing about that??

People who play the lottery play to win money. At least I do. I... [ More ]

Reply #15

MaximumMillions — Wed, 08 Mar 2017 00:07:02 GMT

Keep in mind participation in these lottery TV shows is voluntary. There is no contradiction. People who watch documentaries on free diving with sharks don't necessarily want to do it themselves.

Reply #14

GeneralMac — Tue, 07 Mar 2017 20:42:55 GMT

Your post nailed it

Reply #13

Stack47 — Tue, 07 Mar 2017 20:38:50 GMT

About 20 miles south of where I live, there are many rich people who don't have a problem saying NO to people who have their hand out.

Some people here must believe lottery winners are the only rich people . There are hundreds of 100 + acre farms within 15 miles where I live and I don't see a line of people waiting for handouts. One of the obvious problems with new found wealth is some of those people didn't know how to handle their finances before they won. I doubt Abraham Shakespeare even... [ More ]

Reply #12

music* — Tue, 07 Mar 2017 18:47:53 GMT

Raven62, Ask your potential Certified Financial Planner if he or she is a fiduciary. If he or she is then they must put your interests ahead of their personal and business interests.

Suitability is another term that you should know. It means that the investments that are sold to you are suitable for you. It is a lower and costly position to be in.

Remember the three P's.

Person: Is your CFP a fiduciary?

Pay: How do they get paid? Will you buy investments from them and then never se... [ More ]

Reply #11

Redd55 — Tue, 07 Mar 2017 16:02:49 GMT

There are all sorts of laws regarding how much you can give away without having that amount taxed. And you can only deduct a charitable donation from income earned and only up to 40%. Since I am not a tax acct, I dont know if these laws are current. I only post it to emphasize the necessity of speaking to a tax acct. if you win big.

Reply #10

GeneralMac — Tue, 07 Mar 2017 15:53:18 GMT

(regarding anonymity).........A Florida lottery winner was on a TV show that went back later and checked on lottery winners.

He stated he got lots of requests and him and his wife read many of them.

What really disappointed him was that every request he got was for $50,000 or more.

He said they only honored one request and that was for a young mother who needed a surgery to restore her eye sight. ( they checked it out completely to make sure it was legit

Reply #9

Raven62 — Tue, 07 Mar 2017 11:57:48 GMT

Your best bet is to find an honest financial planner who will look out for your best interests.

Reply #8

Coin Toss — Tue, 07 Mar 2017 05:11:54 GMT

Most financial advisers would tell him not to do that.

From 12 Things Not To Do IF You Win the Lottery;

Give away the whole enchilada.

This is probably not the case for most lottery players, but some people might want to give away just about all their money to a charity or to a religious institution. You can be more than generous without doing the unthinkable. Imagine what you will feel like down the road when a serious crisis arises in your life or your family's life, knowing that you... [ More ]

Reply #7

GeneralMac — Tue, 07 Mar 2017 00:20:21 GMT

(3rd paragraph, 1st sentence)

I agree with you.

I have no fear of my name being made public if I should win.

Reply #6

wander73 — Tue, 07 Mar 2017 00:19:54 GMT

Would you mind sharing what he played and won? The only ones that I would donate to would be the handicapped people in this country American Diabetes Association because my father passed away from it he had that for 20 years and the Child search Foundation.

To this day we still get soliciting phone calls from the scam Charities and I can't stand it

Reply #5

amber123 — Mon, 06 Mar 2017 23:49:04 GMT

Hardly worth it.

I have no problem saying NO to the vultures If I hit the JP. About 20 miles south of where I live, there are many rich people who don't have a problem saying NO to people who have their hand out.

My opinion is that If you have reservations about how to handle instant wealth, don't play, it's really that simple. Just like the recent news story on LP about that young Scottish/English? woman who blamed the lottery for her problems after winning a big prize, why did she play i... [ More ]

Reply #4

music* — Mon, 06 Mar 2017 23:35:06 GMT

If you give it all to Charity make sure she is honest.

Reply #3

Stack47 — Mon, 06 Mar 2017 21:23:49 GMT

The most he could get is the 25% the state lottery withheld in federal taxes.

Reply #2

Stack47 — Mon, 06 Mar 2017 21:22:23 GMT

State lotteries withhold 25% in federal taxes from all winnings over $50,000 and state taxes are deducted where it applies. For instance I live in Kentucky and 25% federal tax would be withheld and another 6% in state taxes is deducted. If I won a $50,000 prize I get a check for $29,500. From there if I donated 95% ($28,025) to charity, I could claim that against the $12,500 in withheld federal tax.

However, when he filed income tax next spring, he could claim maximum allowed charitable giv... [ More ]

Reply #1

amber123 — Mon, 06 Mar 2017 17:16:28 GMT

What portion of the 95% did he get back? I can't imagine it being a lot. I would never do such a thing, not that it matters because 99% of people who play won't win the JP in their lifetime.

Interesting way to avoid being hassled ?

GeneralMac — Mon, 06 Mar 2017 16:52:39 GMT

A friend of mine , who always was charitable, said if he won a big lottery, he would figure out how to divide up 95% to designate to charities.

When he went public to collect, it would show he gave it all away except about $100,000.

However, when he filed income tax next spring, he could claim maximum allowed charitable giving and the tax refund check would be his to keep anonymously.