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Banking Large Winnings

Topic closed. 47 replies. Last post 11 years ago by rabbitfoot.

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How does a bank handle and insure large lottery winnings?

Certificate of Account Deposit Registry [ 13 ]  [31.71%]
Brokeridge Firms [ 7 ]  [17.07%]
Several/Many Banks [ 21 ]  [51.22%]
Total Valid Votes [ 41 ]  
Discarded Votes [ 13 ]  
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Blaine WA
United States
Member #17275
June 15, 2005
117 Posts
Offline
Posted: August 16, 2005, 6:02 pm - IP Logged

why is it each time i read of someone winning the lottery and then filing for bankruptcy it has to do with their relatives.

complete secrecy is the answer as far as i am concerned.

don't give relatives reason to hire hitmen or to beg and plead for your winnings.

take the money as anonymously as possible, set up trusts to protect from relatives and beggars, insulate as much as you can.

there are people good people who will still think it is free money to you and you are required to share

the odds do not mean much to those who win the jackpot

    Avatar
    Sparta, NJ
    United States
    Member #18331
    July 9, 2005
    1977 Posts
    Offline
    Posted: August 21, 2005, 8:46 am - IP Logged

    Rabbitfoot-

    Thanks.  I have been on travel and missed your posting.  This is good news, and I live in the area of the company that has set this insurance up.  Much appreciation. 

    delS

    Thank you dels!  I spend alot of time at Bankrate.com. They even have a series of articles related to winning the lotto and on past lotto winners.  Moreover, one can get a could consumer education by reading their other articles.

    My wife and I travel too.  We have 6 cruises booked for this winter.  We're leaving for Corning, NY on Sun. 21th.  We have 22 banana boxes of Corning Ware cookware that we're donating to the Corning Museum Of Glass.

    Based on what you said, I went to bankrate, looking for lottery information. I just going in circles. Could you point me to the area where the lottery items are? MANY thanks.

    Cheers

    |||::> *'`*:-.,_,.-:*''*:--->>> Chewie  <<<---.*''*:-.,_,.-:*''* <:::|||

    I only trust myself - and that's a questionable choice

      rabbitfoot's avatar - 8ball

      United States
      Member #620
      August 25, 2002
      205 Posts
      Offline
      Posted: September 4, 2005, 6:30 pm - IP Logged

      Rabbitfoot-

      Thanks.  I have been on travel and missed your posting.  This is good news, and I live in the area of the company that has set this insurance up.  Much appreciation. 

      delS

      Thank you dels!  I spend alot of time at Bankrate.com. They even have a series of articles related to winning the lotto and on past lotto winners.  Moreover, one can get a could consumer education by reading their other articles.

      My wife and I travel too.  We have 6 cruises booked for this winter.  We're leaving for Corning, NY on Sun. 21th.  We have 22 banana boxes of Corning Ware cookware that we're donating to the Corning Museum Of Glass.

      Based on what you said, I went to bankrate, looking for lottery information. I just going in circles. Could you point me to the area where the lottery items are? MANY thanks.

      Okay Chewie,

       

      Goto: www.bankrate.com

      In the upper right hand corner is a SEARCH box.

      Type in the word Lottery.

      Bingo!  About 143 pages of information will appear.  Enjoy!

      I play to dream and dream of winning a major jackpot!